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.

Share price chart

Share chart

Stock data

Market cap.€1781.2m
Last close€67.31
High / Low (52 weeks)€86.8 / €57.2
Stock market listingDE
Forecast net cash (€m)297.1
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual1.8(10.2)(0.6)
Relative *3.5(12.5)(15.4)

* % Relative to local index

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Company news

Annual General Meeting of MorphoSys AG Elects New Supervisory Board ...

Fri, 08 May 2015 13:52:30 GMT

MorphoSys AG Reports Results for the First Three Months of 2015

Tue, 05 May 2015 05:03:45 GMT

MorphoSys AG: Announcement of the Convening of the AGM in Munich ...

Mon, 30 Mar 2015 11:48:45 GMT

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

Thu, 26 Mar 2015 16:18:45 GMT

MorphoSys AG : MorphoSys to Receive Milestone Payment for Guselkumab ...

Mon, 13 Apr 2015 05:26:15 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2013A 78.0 18.1 14.0 43.5 154.7 18.2
2014A 64.0 (1.8) (1.6) (1.3) N/A N/A
2015E 104.6 15.4 17.1 59.2 113.7 N/A
2016E 48.5 (41.3) (41.3) (105.7) N/A N/A

Last updated on 18/05/2015

Latest research

Investment summary

MorphoSys has a broad portfolio of 23 antibodies in clinical studies, including four proprietary products with considerable potential after MOR209 entered Phase I. MOR103 was licensed to GSK in a €450m (c $590m) deal for development in RA and other autoimmune indications and we expect a Phase IIb trial to start soon. MOR202 was partnered with Celgene, but the alliance was recently ended, so MorphoSys will complete the current Phase I/II study in multiple myeloma before looking for a new partner. A Phase II study with MOR208 in non-Hodgkin's lymphoma, acute lymphoblastic leukaemia and chronic lymphocytic leukaemia is ongoing. MorphoSys and its partner Emergent BioSolution have recently started a Phase I study in castration resistant prostate cancer. In its partnered pipeline, J&J has now initiated five Phase III studies with guselkumab in psoriasis, but Roche terminated one of the Phase III trials with gantenerumab in Alzheimer's disease in Q414. MorphoSys had a cash position of €353m on 31 December.

Last updated on 06/05/2015

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 06/05/2015

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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