MorphoSys AG : Sufficient financial headroom to capitalise on promising MANIFEST-2 study
>Mixed Q2 results with lower sales and substantially lower operating losses - MorphoSys has published Q2 2023 sales of € 53.2m (y-o-y -10%), which is 8% below our estimates and 7% below the consensus. Monjuvi US sales were exactly at the previous year’s level of € 21.7m and 6% below our projections but 1% above the consensus. The EBIT loss of -€ 50.5m was some €5m below Q2 2022, €7m below our estimate and even €13m below consensus estimates of €63.3m. Net earnings lo...MorphoSys is engaged in development and commercialization of antibodies for therapeutic applications. Co. operates in two segments: Partnered Discovery, which operates therapeutic development programs for drug candidates in cooperation with biotechnology and pharmaceutical companies; and Proprietary Development, which is engaged in the development of therapeutic antibodies in the area of inflammatory disease and oncology on a proprietary basis. As of Dec 31 2013, Co.'s proprietary antibody compounds in clinical trials included MOR103 in the areas of rheumatoid arthritis and multiple sclerosis; MOR202 in the field of multiple myeloma; and MOR208 in the field of malignant B-cell diseases.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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