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MorphoSys Raises 2020 Outlook

MorphoSys AG (MOR,MPSYY.PK) said that it raised its outlook for the financial year 2020, due to higher revenues from partnerships and collaborations and Tremfya royalties are expected to be at the upper end of guidance.

The updated guidance now also includes revenues from product sales of Monjuvi following its approval and subsequent launch in the U.S.

For 2020, the company now expects an EBIT to be in the range of 10 million euros to 20 million euros compared to the prior estimation of negative 15 million euros to positive 5 million euros.

The company projects annual group revenues to be in the range of 317 million euros - 327 million euros compared to the prior outlook of 280 million euros - 290 million euros.

In the first nine months of 2020, MorphoSys reported preliminary group revenues of 291.7 million euros and an EBIT of 101.8 million million euros.

The company will publish its third-quarter results on November 11.

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