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MorphoSys 2018 Loss Narrows

MorphoSys AG(MOR) reported that its net loss for fiscal year 2018 narrowed to 56.2 million euros from 69.8 million euros last year. Loss per share for 2018 was 1.79 euros, compared to net loss per share 2.41 euros in the prior year.

Group revenues for 2018 increased 14% to 76.4 million euros from last year's 66.8 million euros.

For the financial year 2019, MorphoSys will continue to invest strongly in the development of its proprietary candidates, with the primary goal of driving MOR208 to market and preparing the Company for its commercialization. Revenues in the 2019 financial year are expected to be below those achieved in 2018, mainly due to a positive one-time payment of EUR 47.5 million in 2018 in connection with a global licensing deal for MOR106.

For 2019, MorphoSys expects to generate Group revenues in the range of 43 million euros to 50 million euros. Revenues are expected to include royalty income from Tremfya of between EUR 23 and 30 million at constant exchange rate to the US dollar. Expenses for proprietary R&D are anticipated in a corridor of EUR 95 to 105 million.

The company expects earnings before interest and taxes (EBIT) of -127 million euros to -137 million euros. This guidance does not include a potential larger milestone for the start of a phase 3 clinical trial for MOR103/GSK3196165 that could occur in the course of 2019.

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