logo
Plus   Neg
Share
Email

MorphoSys Posts Wider Loss In Q1; Reaffirms Guidance - Quick Facts

MorphoSys AG (MOR) recorded a wider loss year-on-year in the first quarter due to higher expenses mainly driven by increased R&D, selling and general & administrative expenses. Looking forward, the company reaffirmed its guidance for 2019.

First-quarter consolidated net loss was 22.7 million euros compared to a loss of 19.5 million euros, previous year. Loss per share was 0.72 euros compared to a loss of 0.67 euros. EBIT was negative at 23.6 million euros compared to a negative EBIT of 19.0 million euros, a year ago.

First-quarter Group revenues were 13.5 million euros, compared to 2.8 million euros, last year. Revenues for the first quarter of 2019 included 11.0 million euros for success-based payments received primarily from Janssen and I-Mab.

For 2019, MorphoSys continues to expect Group revenues in the range of 43 million euros to 50 million euros.

Simon Moroney, CEO of MorphoSys AG, said: "From now on MOR208 will be called tafasitamab. Rolling submission to the FDA continues according to plan, which could support a potential approval in the U.S. in mid-2020."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Canada's new regulations that provide extra protection for airline passengers will kick in Monday, July 15. The new rules from the Canada Transportation Agency, which has received severe backlash from industry and consumer advocates, requires airlines to compensate passengers up to $2,400 if they... California-based Fieldsource Food Systems Inc. has recalled about 13,000 pounds of diced beef and chicken products due to misbranding and undeclared allergens. The company says the product contain wheat, a known allergen, but is not declared on the product label. The uncooked, marinated, diced beef... The U.S. may approve certain companies to re-start new sales to Chinese telecom equipment giant Huawei in as soon as two weeks, Reuters reported Sunday, citing a senior U.S. official. According to the report, licenses will be issued to the U.S. companies on a case-by-case basis, starting in the next two to four week. Huawei is the world's largest telecom equipment maker.
Follow RTT