MorphoSys (MOR)

Business description

MorphoSys is a German biotechnology company that uses its proprietary antibody platforms to produce human antibodies for therapeutic use across a range of indications for partners and to develop its own pipeline.

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Stock data

Market cap.€1817.9m
Last close€68.70
High / Low (52 weeks)€86.8 / €54.5
Stock market listingDE
Forecast net cash (€m)257.2
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual(11)(9.8)3.8
Relative *(15.9)(24.6)(18.3)

* % Relative to local index

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Company news

MorphoSys AG : MorphoSys and Celgene Mutually Agree to End MOR202 ...

Thu, 26 Mar 2015 16:18:45 GMT

MorphoSys AG Reports Results for Fiscal Year 2014

Thu, 26 Feb 2015 06:10:20 GMT

MorphoSys AG Reports Results for the First Nine Months of 2014

Fri, 07 Nov 2014 06:11:59 GMT

Invitation to Year End 2014 Conference Call of MorphoSys AG on 26 February ...

Fri, 20 Feb 2015 10:18:45 GMT

MorphoSys to Present at Leerink Global Healthcare Conference

Tue, 10 Feb 2015 13:05:07 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2012A 51.9 8.8 7.1 27.9 246.2 760.8
2013A 78.0 18.1 14.0 43.5 157.9 18.6
2014E 62.4 (2.5) (1.2) (0.4) N/A N/A
2015E 62.4 (25.9) (25.1) (62.4) N/A N/A

Last updated on 25/02/2015

Investment summary

MorphoSys has a broad portfolio of 22 antibodies in clinical studies, including three proprietary products with considerable potential and one other soon to start Phase I. In 2013, two proprietary products, MOR103 and MOR202, were licensed to GSK in a €450m (c $590m) deal for development in all indications globally and to Celgene in an $818m (c €630m) co-development agreement for multiple myeloma and other haematological cancers, respectively. A Phase II study with MOR208 in non-Hodgkin's lymphoma, acute lymphoblastic leukaemia and chronic lymphocytic leukaemia is ongoing. MorphoSys signed a co-development agreement in August with Emergent BioSolutions for MOR209/ES414, due to enter Phase I for prostate cancer during the next six months. In its partnered pipeline, J&J advanced guselkumab into Phase III, but Roche terminated one of the Phase III trials with gantenerumab in Alzheimer's disease in Q414. MorphoSys had a cash position of €364m on 30 September. FY14 results are due on 26 February.

Last updated on 02/03/2015

Industry outlook

The pharmaceutical industry is out-licensing more drug discovery and developing more biological products, both trends that should benefit MorphoSys. Also, there is increasing demand for novel therapies, such as those in MorphoSys's proprietary pipeline.

Last updated on 02/03/2015

Key management

Gerald Moller, Chairman
Simon E. Moroney, CEO
Jens Holstein, CFO

Company address

Lena-Christ-Str. 48
82152 Martinsried/Planegg
Germany
+49 (0)89 / 899 27-0
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