MorphoSys Turns To Loss In Q1; Revenues Fall 81%

German biotechnology company MorphoSys AG (MOR,MPSYY.PK) on Wednesday posted first-quarter net loss of 41.6 million euros or 1.27 euros per share, compared to net income of 195.5 million euros or 6.11 euros per share in the same period last year.

Quarterly revenues dropped 81 percent to 47.2 million euros from 251.2 million euros in the previous-year period.

Looking ahead, the company reaffirmed its revenue guidance of 150 million euros to 200 million euros for fiscal year 2021.

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