Morphosys AG Preliminary Results for the Fiscal Year 2020 Exceeding Guidance

MorphoSys AG has announced preliminary results for the fiscal year 2020, reporting revenues of €327.7 million, exceeding its previous guidance of €317 to 327 million.

Rhea-AI Summary

MorphoSys AG has announced preliminary results for the fiscal year 2020, reporting revenues of €327.7 million, exceeding its previous guidance of €317 to 327 million. This includes €18.5 million from Monjuvi(R) sales and €42.5 million in royalties from Tremfya(R). The expected EBIT stands at €27.4 million, significantly above the guidance range of €10 to 20 million. R&D expenses are projected at €141.4 million, slightly over the guided range. Full financial results will be disclosed on March 15, 2021.

Positive

• Revenues of €327.7 million exceeded the upper end of guidance.
• Expected EBIT is €27.4 million, notably above the upper guidance.
• Inclusion of €18.5 million from Monjuvi sales contributes positively.

Negative

• R&D expenses are projected at €141.4 million, slightly above guidance.

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PLANEGG & MUNICH, GERMANY / ACCESSWIRE / March 01, 2021 / MorphoSys AG preliminary results for the fiscal year 2020 exceeding guidance MorphoSys AG (FSE:MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ:MOR) today announces that according to the analysis of the preliminary results during the ongoing year-end closing process, MorphoSys' outlook has been exceeded. Group revenues for 2020 are expected to amount to € 327.7 million and therefore slightly above the upper end of the guidance range from € 317 to 327 million. Group revenues include € 18.5 million (USD 22.0 million) revenues from product sales of Monjuvi(R) as well as € 42.5 million for royalties on net sales of Tremfya(R). EBIT (Earnings before Interests and Taxes) for 2020 is expected to be € 27.4 million, and therefore significantly above the upper end of the guidance range of € 10 to 20 million. Expenses for research and development are expected to amount to € 141.4 million and therefore slightly above the guided range of € 130 to 140 million. All figures are preliminary. Full results will be published as planned on March 15, 2021. Information and Explanation of the Issuer to this News: About MorphoSys MorphoSys (FSE & NASDAQ: MOR) is a commercial-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative therapies for patients suffering from cancer and autoimmune diseases. Based on its leading expertise in antibody, protein, and peptide technologies, MorphoSys, together with its partners, has developed and contributed to the development of more than 100 product candidates, of which 27 are currently in clinical development. In 2017, Tremfya(R), developed by Janssen Research & Development, LLC and marketed by Janssen Biotech, Inc., for the treatment of plaque psoriasis, became the first drug based on MorphoSys' antibody technology to receive regulatory approval. In July 2020, the U.S. Food and Drug Administration (FDA) granted accelerated approval of MorphoSys' proprietary product Monjuvi(R) (tafasitamab-cxix) in combination with lenalidomide in patients with a certain type of lymphoma. Headquartered near Munich, Germany, the MorphoSys group, including the fully owned U.S. subsidiary MorphoSys US Inc., has more than 600 employees. More information at www.morphosys.com or www.morphosys-us.com. Monjuvi(R) is a registered trademark of MorphoSys AG. Tremfya(R) is a registered trademark of Janssen Biotech. MorphoSys Forward-Looking Statements This communication contains certain forward-looking statements concerning the MorphoSys group of companies, including the expectations regarding Monjuvi's ability to treat patients with relapsed or refractory diffuse large B-cell lymphoma, the further clinical development of tafasitamab, including ongoing confirmatory trials, additional interactions with regulatory authorities, and expectations regarding future regulatory filings and possible additional approvals for tafasitamab as well as the commercial performance of Monjuvi. The words 'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'predict,' 'project,' 'would,' 'could,' 'potential,' 'possible,' 'hope' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve known and unknown risks and uncertainties, which might cause the actual results, financial condition and liquidity, performance or achievements of MorphoSys, or industry results, to be materially different from any historic or future results, financial conditions and liquidity, performance or achievements expressed or implied by such forward-looking statements. In addition, even if MorphoSys' results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. Among the factors that may result in differences are MorphoSys' expectations regarding risks and uncertainties related to the impact of the COVID-19 pandemic to MorphoSys' business, operations, strategy, goals and anticipated milestones, including its ongoing and planned research activities, ability to conduct ongoing and planned clinical trials, clinical supply of current or future drug candidates, commercial supply of current or future approved products, and launching, marketing and selling current or future approved products, the global collaboration and license agreement for tafasitamab, the further clinical development of tafasitamab, including ongoing confirmatory trials, and MorphoSys' ability to obtain and maintain requisite regulatory approvals and to enroll patients in its planned clinical trials, additional interactions with regulatory authorities and expectations regarding future regulatory filings and possible additional approvals for tafasitamab as well as the commercial performance of Monjuvi, MorphoSys' reliance on collaborations with third parties, estimating the commercial potential of its development programs and other risks indicated in the risk factors included in MorphoSys' Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. MorphoSys expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements unless specifically required by law or regulation. For more information, please contact: Dr. Julia Neugebauer Senior Director Investor Relations Tel: +49 (0)89 / 899 27 179 julia.neugebauer@morphosys.com Myles Clouston Senior Director Investor Relations Tel: +1 857-772-0240 myles.clouston@morphosys.com

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:	MDAX, TecDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Nasdaq
EQS News ID:	1172226

SOURCE: MorphoSys AG

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https://www.accesswire.com/632807/Morphosys-AG-Preliminary-Results-for-the-Fiscal-Year-2020-Exceeding-Guidance

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are MorphoSys' preliminary revenue results for 2020?

MorphoSys reported preliminary revenues of €327.7 million for the fiscal year 2020.

How did MorphoSys' EBIT perform in 2020?

The expected EBIT for MorphoSys in 2020 is €27.4 million, significantly exceeding the guidance.

When will MorphoSys publish its full 2020 results?

MorphoSys plans to publish its full financial results on March 15, 2021.

What revenue contributions did Monjuvi and Tremfya make?

Monjuvi contributed €18.5 million from sales, while Tremfya generated €42.5 million in royalties.

What are the projected R&D expenses for MorphoSys in 2020?

MorpohSys expects its R&D expenses to be €141.4 million, slightly above guidance.