MorphoSys Turns To Profit In Q4

MorphoSys AG (MOR) reported that its net profit for the fourth quarter 2022 was 329.4 million euros compared to a net loss of 381.0 million euros in the prior year. The net profit in the latest-quarter was driven mainly by the recognition of finance income triggered by the reduction in financial liabilities from collaborations.

Operating loss narrowed to 68.4 million euros from the prior year's 325.0 million euros, primarily driven by the impairment of goodwill amounting to 230.7 million euros recognized in the prior year.

Total revenues for the fourth quarter rose to 81.6 million euros from the prior year's 52.9 million euros, reflecting higher revenues from the global licensing agreement with Novartis executed in the fourth quarter 2022.

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