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Net sales of Monjuvi products in the US of 23.3 million US dollars (21.7 million euros) in the second quarter of 2022Updated financial guidance ranges for Monjuvi’s net product sales in the US in 2022 (now $90 million to $110 million), R&D expenses (now €275 million to €300 million) and expenses sales, general and administrative (now from 150 to 165 million euros)


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PLANEGG/MUNICH, GERMANY / ACCESS CABLE / July 26, 2022 / MorphoSys AG (FSE: MOR)(NASDAQ:MOR) today announces an update to its financial guidance for 2022, following the preliminary completion of the latest evaluation of MorphoSys’ financial performance in the half of 2022.

MorphoSys updates its financial guidance based on preliminary unaudited consolidated results for the first six months of 2022 and following recent license agreements with Human Immunology Biosciences, Inc. (HIBio) for felzartamab and MOR210. Preliminary net product sales of Monjuvi® (tafasitamab-cxix) in the US are US$23.3 million (€21.7 million) for the second quarter of 2022 and US$41.9 million (€38 .3 million) for the first half of 2022. For the full year of 2022, MorphoSys now expects net sales of Monjuvi products in the US to be in the range of US$90 to US$110 million (previously : US$110 to US$135 million). In addition, MorphoSys now expects R&D expenses in the range of €275 million to €300 million (previously: €300 million to €325 million) and SG&A expenses in the range of €150 million to €165 million ( previously: from 155 to 170 million euros). Previous financial guidance for 2022 was provided by MorphoSys on January 7, 2022 and reiterated on March 16, 2022 and May 4, 2022 and can be found at www.morphosys.com. Guidance for gross margin for Monjuvi’s net product sales in the US remains unchanged.

Financial guidance for the full year 2022:

amounts in millions


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Updated 2022 Financial Guidance

Previous financial guidance of 2022

Guidance Outlook 2022

Net sales of Monjuvi products in the US

$90m to 110m

$110m to 135m

100% of Monjuvi’s US product sales are recorded on MorphoSys’ income statement and related profit/loss is split 50/50 between MorphoSys and Incyte.

Gross margin of net sales of Monjuvi products in the US

75% to 80%

75% to 80%

100% of the cost of sales of Monjuvi’s products in the US is recorded on MorphoSys’ income statement and related profit/loss is split 50/50 between MorphoSys and Incyte.

R&D expenses

€275m to 300m

€300m to 325m

Reduction in target range primarily driven by felzartamab license agreement with HIBio executed on July 14, 2022.

Selling, general and administrative expenses

€150m to 165m

€155m to 170m

Between 53% and 58% of midpoint SG&A represent Monjuvi’s US costs of sales, of which 100% are recorded on MorphoSys’ income statement. Incyte reimburses MorphoSys for half of these selling expenses.

Full results will be released on August 3, 2022, followed by a conference call on August 4, 2022.

***

END OF AD HOC PUBLICATION

Information and Explanation of the Issuer of this Notice:

About MorphoSys

At MorphoSys, we are driven by our mission: more life for people with cancer. As a commercial-stage global biopharmaceutical company, we use innovative science and technologies to discover, develop and deliver innovative cancer medicines to patients. MorphoSys is headquartered in Planegg, Germany, with its US operations anchored in Boston, Massachusetts. For more information, visit us at www.morphosys.com and follow us on Twitter Y LinkedIn.

Monjuvi® is a registered trademark of MorphoSys AG.

Forward-looking statements

This release contains certain forward-looking statements about the MorphoSys group of companies. The forward-looking statements contained in this document represent the judgment of MorphoSys as of the date of this release and involve known and unknown risks and uncertainties, which could cause the actual results, financial condition and liquidity, performance or achievements of MorphoSys, or industry results, be materially different from any historical or future results, financial conditions and liquidity, performance or achievements expressed or implied by such forward-looking statements. In addition, even if the results, performance, financial condition and liquidity of MorphoSys, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not predict results or developments in future periods. Among the factors that may result in differences are that MorphoSys’ expectations may be incorrect, the inherent uncertainties associated with competitive developments, clinical trial and product development activities and regulatory approval requirements, MorphoSys’ reliance on collaborations with third parties, estimation of the business potential of its development programs and other risks indicated in the risk factors included in MorphoSys’ Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission given these uncertainties, the reader is cautioned not to place undue reliance on any such forward-looking statements. These forward-looking statements speak only as of the publication date of this document. MorphoSys expressly disclaims any obligation to update any forward-looking statements in this document to reflect any changes in its expectations with respect thereto or any changes in events, conditions or circumstances on which such forward-looking statements are based or which may affect the likelihood of that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation.

For more information, contact:

Dr Julia Neugebauer
Senior Director of Investor Relations
Telephone: +49 (0)89 / 899 27 179
[email protected]

Myles Clouston
Senior Director of Investor Relations
Phone: +1 857-772-0240
[email protected]

FONT: MorphoSys AG

See source version at access cable.com:
https://www.accesswire.com/709793/MorphoSys-AG-Reports-Preliminary-Q2-2022-Monjuvi-US-Sales-and-Updates-Financial-Guidance-for-2022

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