Morphosys AG

Latest Results (13.06.2024):

Revenue Decline in Q4 2023

MorphoSys AG reported a decrease in total revenues for the fourth quarter of 2023, amounting to €59.0 million compared to €81.6 million in the same quarter of the previous year. This significant reduction primarily resulted from the absence of revenue from a prior year's out-licensing agreement with Novartis.

Annual Financial Performance

For the full year of 2023, MorphoSys AG's total revenues reached €238.3 million, marking a decrease from €278.3 million in 2022. The decline was largely due to reduced income from out-licensing agreements, despite stable Monjuvi product sales and increased royalty income.

Operational Expenses and Losses

MorphoSys AG's operational expenses for the fourth quarter of 2023 included €80.3 million in R&D and €22.6 million in selling expenses. The company reported an operating loss of €81.4 million for the quarter, which widened from a loss of €68.4 million in the same period in 2022.

Net Loss for Q4 and Full Year

The consolidated net loss for MorphoSys AG in the fourth quarter of 2023 was €48.3 million, an improvement from a net loss of €329.4 million in the fourth quarter of 2022. For the entire year of 2023, the consolidated net loss was €189.7 million, compared to a net loss of €151.1 million in 2022.

Financial Outlook and Strategic Moves

Following the sale of tafasitamab rights to Incyte in early 2024, MorphoSys AG has withdrawn its previously issued financial guidance for 2024. The company now focuses on advancing its remaining pipeline, including the development of pelabresib and tulmimetostat, with adjusted expectations for R&D and administrative expenses.