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.€2042.4m
Last close€77.36
High / Low (52 weeks)€78.6 / €53.0
Stock market listingDE
Forecast net cash (€m)329.5
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual13.58.640.7
Relative *4.36.736.5

* % Relative to local index

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Company news

MorphoSys AG Reports Results for the First Nine Months of 2014

Fri, 07 Nov 2014 06:11:15 GMT

Ad hoc: MorphoSys Updates its 2014 Financial Guidance

Wed, 22 Oct 2014 21:56:15 GMT

MorphoSys to Host Q3 2014 Conference Call on 07 November 2014

Thu, 30 Oct 2014 16:07:30 GMT

Emergent BioSolutions Strikes Deal With MorphoSys Over Cancer Drug

Wed, 20 Aug 2014 19:28:15 GMT

MorphoSys Receives Research Grant to Develop Novel Therapeutic Antibodies ...

Mon, 15 Sep 2014 05:39:19 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 27.9 277.3 856.6
2013A 78.0 14.8 10.7 30.1 257.0 21.0
2014E 61.8 (7.0) (5.4) (10.2) N/A N/A
2015E 62.9 (13.2) (11.6) (26.9) N/A N/A

Last updated on 24/10/2014

Investment summary

MorphoSys has a broad portfolio of 20 antibodies in clinical studies, including three proprietary products with considerable potential and one other about 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. MOR208 recently achieved US and EU orphan status in CLL and small lymphocytic leukaemia (SLL). MorphoSys has 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 has just advanced Guselkumab into Phase III triggering a milestone payment. MorphoSys had a cash position of €374m on 30 June.

Last updated on 03/11/2014

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 03/11/2014

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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