DGAP-News: MorphoSys AG / Key word(s): Conference Planegg/Munich, Germany, London, UK, September 5, 2017
- Company is exploring fastest path to market for proprietary blood cancer program MOR208 - Working to secure a deal for proprietary blood cancer program MOR202 - Phase 1 data for MOR106 in atopic dermatitis expected very soon - New early stage programs announced - Ambition to bring one new compound into the clinic every 18 months - Financial guidance for FY 2017 re-confirmed MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX; OTC: MPSYY), a leader in the field of therapeutic antibodies, is today hosting its Capital Market Day in London. The Management of MorphoSys AG updated analysts and investors on the Company's growth and development strategy and confirmed its financial guidance for 2017. "We're excited about the progress in our pipeline. The main focus of our attention is our blood cancer program MOR208, for which we have promising clinical data in DLBCL, a particularly aggressive form of lymphoma. We're working hard to identify the fastest possible path to market for this novel drug candidate", said Dr. Simon Moroney, Chief Executive Officer of MorphoSys AG in his opening remarks. "Based on the clinical data we've seen in our clinical trial L-MIND, MOR208 may offer an efficacious, safe, convenient, and affordable treatment to bring patients into remission and keep them there." Beyond MOR208, MorphoSys is working to secure a deal for its second blood cancer program MOR202, now based on a data package from the phase 1b/2 trial. For MOR106, an antibody in joint development with Galapagos for atopic dermatitis, headline data from an ongoing phase 1 clinical trial is expected to be released soon. The Company's rights to MOR209, an immunotherapeutic for the treatment of metastatic castration resistant prostate cancer, which was in joint development with its originator Aptevo Therapeutics, were recently returned to Aptevo following a portfolio review. Ambition to bring one new compound into clinic every 18 months Announcement of new, early-stage programs Financial guidance for FY 2017 re-confirmed For the financial year 2017, MorphoSys continues to expect Group revenues in the range of EUR 46 to 51 million. Proprietary R&D expenses were confirmed to be in a corridor of EUR 85 to 95 million. The Company confirmed its guidance for earnings before interest and taxes (EBIT) of EUR -75 to -85 million. This guidance does not include any additional revenue from potential future collaborations and/or licensing partnerships nor effects from potential in-licensing or co-development deals for new development candidates. "With our strong cash position, we continue to drive forward our proprietary portfolio. In particular, we are focused on the pivotal development of our blood cancer candidate MOR208. Our maturing partnered pipeline is expected to generate increasing cashflows from royalties in the years to come. This will contribute to the funding of our proprietary development activities," said Jens Holstein, Chief Financial Officer of MorphoSys AG. "We see blockbuster potential for Janssen's TremfyaTM, not only for the US psoriasis market, but also in other jurisdictions and indications." The Capital Markets Day is taking place in London on September 5, 2017 and in New York on September 6, 2017. Presentations and other information material given at the Capital Markets Day are available on our website: http://www.morphosys.com.
HuCAL(R), HuCAL GOLD(R), HuCAL PLATINUM(R), CysDisplay(R), RapMAT(R), arYla(R), Ylanthia(R), 100 billion high potentials(R), Slonomics(R), Lanthio Pharma(R) and LanthioPep(R) are registered trademarks of the MorphoSys Group. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated. MorphoSys does not intend to update any of these forward-looking statements as far as the wording of the relevant press release is concerned. Jochen Orlowski Alexandra Goller Tel: +49 (0) 89 / 899 27-404 Additional features: Document: http://n.eqs.com/c/fncls.ssp?u=NFJYERMFJI Document title: Media Release 05.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | MorphoSys AG |
Semmelweisstr. 7 | |
82152 Planegg | |
Germany | |
Phone: | +49 (0)89 899 27-0 |
Fax: | +49 (0)89 899 27-222 |
E-mail: | investors@morphosys.com |
Internet: | www.morphosys.com |
ISIN: | DE0006632003 |
WKN: | 663200 |
Indices: | TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |