MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX OTC: MPSYY) today increased its financial guidance for the current year. For the full-year 2013, MorphoSys now expects an EBIT of EUR 7 million to EUR 10 million (up from previously EUR 2 million to EUR 6 million) and revenues at the upper end of the previously communicated guidance range of EUR 74 million to EUR 78 million. The change of the EBIT range is mainly driven by the positive revenue development and lower than originally anticipated costs for the development of the cancer program MOR202 under the co-development and cost-sharing agreement with Celgene.
"The successful development of our proprietary portfolio and our partnered programs is reflected in the strong financial performance this year. We believe MorphoSys is well positioned and well-funded to broaden and advance its proprietary development activities and to continue to build significant value," stated Jens Holstein, Chief Financial Officer of MorphoSys AG.
MorphoSys developed HuCAL, the most successful antibody library technology in the pharmaceutical industry. By successfully applying this and other patented technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human healthcare.
Together with its pharmaceutical partners, MorphoSys has built a therapeutic pipeline of more than 70 human antibody drug candidates for the treatment of cancer, rheumatoid arthritis, and Alzheimer`s disease, to name just a few. With its ongoing commitment to new antibody technology and drug development, MorphoSys is focused on making the healthcare products of tomorrow. MorphoSys is listed on the Frankfurt Stock Exchange under the symbol MOR. For regular updates about MorphoSys, visit http://www.morphosys.com.
HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT®, arYla®, Ylanthia® and 100 billion high potentials® are registered trademarks of MorphoSys AG.
Slonomics® is a registered trademark of Sloning BioTechnology GmbH, a subsidiary of MorphoSys AG.
This communication contains certain forward-looking statements concerning the MorphoSys group of companies. 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.
For more information, please contact:
Dr. Claudia Gutjahr-Löser
Head of Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-122
Associate Director Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-454
Specialist Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-332
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Source: MorphoSys AG via Thomson Reuters ONE