Business & Finance
Business and Finance
Business and Finance
Fri, January 21, 2011
Thu, January 20, 2011 MorphoSys Reports Preliminary, Unaudited Financial Results for 2010 and Provides First Outlook on 2011
MARTINSRIED, GERMANY and MUNICH, GERMANY--(Marketwire - January 20, 2011) -
MorphoSys AG / MorphoSys Reports Preliminary, Unaudited Financial Results for 2010 and Provides First Outlook on 2011 Processed and transmitted by Thomson Reuters. The issuer is solely responsible for the content of this announcement.
MorphoSys AG (FSE: MOR; Prime Standard Segment; TecDAX) today reported preliminary, unaudited financial results for the full-year 2010 according to International Financial Reporting Standards (IFRS). For 2010, MorphoSys expects full year revenues of approximately EUR 87 million (2009: EUR 81.0 million) and an operating profit of approximately EUR 10 million (2009: EUR 11.4 million). The deviation from guidance issued by the Company on December 10, 2010 (revenues of EUR 91-94 million and operating profit of EUR 13-16 million) is related to the final accounting treatment of the recently signed Pfizer deal. This accounting treatment has no impact on the overall economics of the agreement with Pfizer, or on any cash flows arising from the deal.
For 2011, MorphoSys projects full year revenues of at least EUR 105 million and an operating profit of at least EUR 10 million.
"2010 was a stellar year for MorphoSys," commented Dave Lemus, Chief Financial Officer of MorphoSys. "Our growth story is very strong and we expect to see revenue growth in excess of 20% in 2011."
About MorphoSys:
MorphoSys is an independent biotechnology company that develops novel antibodies for therapeutic, diagnostic and research applications. The Company's HuCAL technology is one of the most powerful methods available for generating fully human antibodies. By successfully applying this and other proprietary technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human health-care. Through its alliances with some of the world's leading pharmaceutical companies, MorphoSys has created a pipeline of more than 60 drug candidates. The Company is expanding its drug pipeline by adding new partnered programs, and by building a portfolio of fully-owned therapeutic antibodies. For its proprietary portfolio, the Company is focused on the areas of oncology and inflammation. Its most advanced program MOR103, a first-in-class, fully human antibody against GM- CSF, is currently being tested in a Phase Ib/IIa trial in rheumatoid arthritis patients. Via its business unit AbD Serotec, MorphoSys is expanding the reach of its technologies in the diagnostics and research markets. MorphoSys is headquartered in Munich, Germany and listed on the Frankfurt Stock Exchange under the symbol "MOR". For further information, visithttp://www.morphosys.com/ HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay® and RapMAT® are registered trademarks of MorphoSys; arYla™ is a trademark of MorphoSys.
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.
--- End of Message ---
MorphoSys AG Lena-Christ-Str. 48 Martinsried / München Germany
WKN: 663200;ISIN: DE0006632003;Index:TecDAX,CDAX,Prime All Share,TECH All Share,HDAX,MIDCAP; Listed: Freiverkehr in Börse Stuttgart, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf, Freiverkehr in Bayerische Börse München, Freiverkehr in Niedersächsische Börse zu Hannover, Prime Standard in Frankfurter Wertpapierbörse, Regulierter Markt in Frankfurter Wertpapierbörse;
Press Release (PDF): [ http://hugin.info/130295/R/1481300/416579.pdf ]
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: MorphoSys AG via Thomson Reuters ONE
[HUG#1481300]
