Form 6-K MorphoSys AG For: Jul 26
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF A FOREIGN ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For July 26, 2021
Commission File Number 1-38455
MorphoSys AG
Semmelweisstrasse 7
82152 Planegg
Germany
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
MORPHOSYS AG (Registrant) | ||||||
Date: July 26, 2021 | By: | /s/ i.A. Dr. Julia Neugebauer | ||||
Name: Dr. Julia Neugebauer | ||||||
Title: Senior Director Investor Relations | ||||||
By: | /s/ i.A. Isabelle Degbegni | |||||
Name: Isabelle Degbegni | ||||||
Title: Director Investor Relations |
Exhibit 99.1
Publication of an inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014
Planegg/Munich, Germany, July 26, 2021
Ad hoc: MorphoSys AG to update financial guidance for 2021 and reduce financial liabilities
MorphoSys AG (FSE: MOR; NASDAQ: MOR) announces today an update of its financial guidance for 2021 after preliminary completion of the latest evaluation of MorphoSys half year 2021 financial performance.
Based on the preliminary unaudited consolidated results for the first six months 2021, MorphoSys now expects Group revenues in the range of 155 to 180 million (previously: 150 to 200 million, provided on March 15, 2021 and reiterated on May 5, 2021). The updated revenue guidance primarily reflects updated Monjuvi® product sales expectations.
MorphoSys now expects Group operating expenses, which is comprised of R&D and Selling, as well as General & Administrative expenses, in the range of 435 to 465 million (previously: 355 to 385 million). R&D expenses now are expected to comprise 52 to 57% of Group operating expenses (previously 45-50%), excluding one-time transaction-related costs. The updated guidance for Group operating expenses mainly reflects the acquisition of Constellation Pharmaceuticals (Constellation), which was completed on July 15, 2021. The revised Group range also includes one-time transaction costs of 36 million, related to the agreements with Constellation and Royalty Pharma.
As a result of the updated Monjuvi product sales expectations, the balance sheet position Financial Liabilities from Collaborations, Net of Current Portion is reduced from 547.6 million (balance as of March 31, 2021) to 445.9 million (balance as of June 30, 2021). The balance in Financial Liabilities from Collaborations, Net of Current Portion, reflects an accounting view of expected profits from the net product sales of Monjuvi in the U.S. in the r/r DLBCL setting owed to our partner Incyte. The reduction in Financial Liabilities from Collaborations has no impact to cash.
Full results will be published as planned on July 28, 2021.
***
END OF AD HOC RELEASE
Page 1 of 2
About MorphoSys
MorphoSys (FSE & NASDAQ: MOR) is a biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies for people living with cancer and autoimmune diseases. Based on its leading expertise in antibody and protein technologies, MorphoSys is advancing its own pipeline of new drug candidates and has created antibodies that are developed by partners in different areas of unmet medical need. In 2017, Tremfya® (guselkumab) developed by Janssen Research & Development, LLC and marketed by Janssen Biotech, Inc. for the treatment of plaque psoriasis became the first drug based on MorphoSys antibody technology to receive regulatory approval. In July 2020, the U.S. Food and Drug Administration granted accelerated approval of the companys proprietary product Monjuvi® (tafasitamab-cxix) in combination with lenalidomide for patients with a certain type of lymphoma. Headquartered near Munich, Germany, the MorphoSys Group, including the fully owned U.S. subsidiaries MorphoSys US Inc. and Constellation Pharmaceuticals, Inc., has more than 750 employees. For more information visit www.morphosys.com.
Monjuvi® is a registered trademark of MorphoSys AG.
Tremfya® is a registered trademark of Janssen Biotech, Inc.
Forward Looking Statements
This communication contains certain forward-looking statements concerning the MorphoSys group of companies. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve known and unknown risks and uncertainties, which might cause the actual results, financial condition and liquidity, performance or achievements of MorphoSys, or industry results, to be materially different from any historic or future results, financial conditions and liquidity, performance or achievements expressed or implied by such forward-looking statements. In addition, even if MorphoSys results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of 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, estimating the commercial 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 advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. MorphoSys expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation.
For more information, please contact:
Dr. Julia Neugebauer
Senior Director Investor Relations
Tel: +49 (0)89 / 899 27 179
Myles Clouston
Senior Director Investor Relations
Tel: +1 857-772-0240
Page 2 of 2
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MorphoSys To Present New Phase 3 MANIFEST-2 Data on Pelabresib in Myelofibrosis in Oral Presentation at 2024 ASCO Annual Meeting
- Rogers Communications Announces Voting Results from Annual and Special Meeting of Shareholders
- ROSEN, LEADING INVESTOR COUNSEL, Encourages Doximity, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – DOCS
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!