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MorphoSys 9-Month Profit Rises

MorphoSys AG (MOR) Wednesday reported nine-months net profit of 114.4 million euros or 3.53 euro per share, compared to last year's loss of $52.7 million euros or 1.67 euro per share.

EBIT for the period was 101.8 million euros, compared to an EBIT loss of 52.7 million euros last year.

Group revenues for the first nine months of 2020 totaled 291.7 million euros, up from 60.7 million euros last year.

Third-quarter net loss was 65.3 million euros or 2.00 per share, wider than last year's loss of 24.2 million euros or 0.76 euros per share.

Group revenues for the third quarter increased to 22.0 million euros from 12.5 million euros last year, driven largely by the first-time recognition of Monjuvi product sales and from service fees for the assignment of personnel to R&D collaboration.

Earnings before interest and taxes for the Group amounted to a loss of 61.7 million euros, wider than last year's EBIT loss of 27.0 million euros.

Looking forward to 2020, MophoSys now expects revenues of 317 million to 327 million euros, and an EBIT 10 million to 20 million euros, Previously, the company expected revenues of 280 million to 290 million euros and EBIT loss of 15 million to earnings 5 million euros.

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