Hot stock to watch: Morphosys Ag (NASDAQ: MOR)

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Morphosys Ag (NASDAQ: MOR) stock rose over 0.2% on 14th march, 2019 (as of 11:41 am GMT-4; Source: Google finance) though the company for FY 18 has reported 14% rise in the revenue to to EUR 76.4 million compared to 2017, which is more than the guidance to be in the range of EUR 67 to 72 million. Tremfya(R) royalty revenues increased from EUR 1.9 million in 2017 to EUR 15.4 million in 2018 (royalty income for 2018 negatively affected by EUR 1.7 million due to contractually triggered currency conversion effect). EBIT loss 2018 as expected at EUR -59.1 million, which is within  the guidance to be in the range of EUR -55 to -65 million. The company had EUR 454.7 million cash at year-end 2018 (December 31, 2017: EUR 312.2 million).

Hot stock to watch: Morphosys Ag (NASDAQ: MOR)

Meanwhile, in 2018, MorphoSys continued to focus on applying its proprietary technology and expertise to the research and development of innovative drug candidates, both for partners and for its own account. In its Proprietary Development segment, MorphoSys focuses on the research and clinical development of its own drug candidates. In 2018, this segment recorded revenues of EUR 53.6 million (2017:EUR 17.6 million), mainly due to the upfront payment of EUR 47.5 million received from Novartis in connection with a global licensing agreement for MOR106.

For FY 19, MOR will continue to invest strongly in the development of its proprietary candidates, with the primary goal of driving MOR208 to market and preparing the Company for its commercialization. Revenues in the FY 19 are expected to be below those achieved in 2018, mainly due to a positive one-time payment of EUR 47.5 million in 2018 in connection with a global licensing deal for MOR106. For 2019, MorphoSys expects to generate Group revenues in the range of EUR 43 to 50 million. Revenues are expected to include royalty income from Tremfya [(R)] of between EUR 23 and 30 million at constant exchange rate to the US dollar. Expenses for proprietary R&D are anticipated in a corridor of EUR 95 to 105 million. The Company expects earnings before interest and taxes (EBIT) of EUR -127 to -137 million.

Moreover, in 2019, MOR expects to Complete data evaluation for primary completion analysis for all 81 patients enrolled under the current study protocol of the fully recruited L-MIND trial in r/r DLBCL and present the results at an upcoming scientific conference. The company plans to complete the submission of the Biologics License Application (BLA) to U.S. FDA for MOR208 by year-end.

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