To this: MorphoSys AG announces preliminary Monjuvi sales for 2022, publishes financial guidance for 2023 and reduces financial liability
Request FREE:
Stock market calendar 2023 as a wall poster!
EQS-Ad-hoc: MorphoSys AG / Key word(s): Forecast
To this: MorphoSys AG announces preliminary Monjuvi sales for 2022,
publishes financial guidance for 2023 and reduces financial
liability
05.01.2023 / 11:33 CET/EST
Publication of inside information in accordance with Article 17 of the Ordinance
(EU) No. 596/2014, transmitted by EQS News – a service of EQS Group
AG.
The issuer / publisher is responsible for the content of the notification.
Publication of an inside information according to article 17 paragraph 1 of the
Regulation (EU) No. 596/2014
Planegg/Munich, January 05, 2023
To this: MorphoSys AG announces preliminary Monjuvi sales for 2022,
publishes financial guidance for 2023 and reduces financial
liability
*Preliminary Monjuvi net product sales in the US in 2022
$89.4 million (EUR 84.9 million)
* Expected Monjuvi net product sales in the US in 2023 in the
In the range of US$ 80 to 95 million
* Preliminary unaudited financial liability from the collaboration
with Incyte of around EUR 220 million, a reduction of 360
EUR million
Die MorphoSys AG (FSE: MOR; NASDAQ: MOR) today announces the preliminary
Net product sales of Monjuvi® in the US for the full year 2022 announced
and publishes the financial guidance for 2023. In this context
reduced MorphoSys its financial liability from the collaboration
with Incyte and records corresponding financial income.
Preliminary US net product sales of Monjuvi (tafasitamab-cxix).
amounts to US$ 25.3 million (EUR 24.0 million) for the fourth quarter of 2022
and for the full year 2022 to US$ 89.4 million (EUR 84.9 million). The results
for the fourth quarter and full year of 2022 will be on March 15, 2023
released. Expected for the full year 2023 MorphoSys for Monjuvi in
net product sales in the U.S. in the range of $80 million to $95 million
US-$.
Due to the adjusted sales expectations for Monjuvi, the
Balance sheet item “Financial liabilities from collaborations” of 580
EUR million (as of September 30, 2022) to around EUR 220 million (as of December 31
2022; unchecked). The difference between the two is included in financial income
amounts recorded. The balance in “Financial liabilities from
Collaborations” reflects an accounting view of the expected
future profits on Monjuvi’s net product sales in the United States
for the treatment of relapsed or refractory diffuse large cell disease
B-Zell-Lymphoms (R/R DLBCL) wider, die MorphoSys his partner Incyte
owes. Reducing financial liabilities from
Collaborations has no impact on cash and cash equivalents.
Financial guidance for the full year 2023:
Fina- Comments on the 2023 Financial Outlook
nz-
pro-
gno-
with
2023
Monjuvi 80 100% of Monjuvi’s US net sales
Net pro to are included in the profit and loss account of
ductum- 95 MorphoSys recorded, and the related
rate in million profit/loss will be half between MorphoSys and
the USA US$ Incyte divided.
Gross Mar- 75% 100% of Monjuvi’s cost of sales in the US
ge for to are included in the income statement from
US-Net- 80% MorphoSys recorded, and the related
to-Product Profit/Loss will be split in half MorphoSys and
revenue Incyte divided.
von
Monjuvi
Expenses 290 2023 will be due to the expansion of
gene for up Pelabresib development program with a
Research 315 expected a slight increase compared to 2022.
and million
Development EUR
lung
(F&E)
Expenses 140 45% to 50% of the mean expenses for
gen for to sales, administration and general
Distribution, 155 represent distribution costs of Monjuvi in the
Administration million USA, of which 100% in the
and EUR Profit and Loss Account of MorphoSys
General. Incyte refunded MorphoSys die
nes half of those distribution costs.
Additional information on the 2023 financial outlook:
* The Tremfya royalties will continue to be recognized as revenue excluding
Cost of sales in MorphoSys’s income statement
expelled. These royalties will be MorphoSys but not liquid
Inject funds as 100% of royalties go to Royalty Pharma
will.
* MorphoSys expects to receive royalties on Minjuvi® sales outside of the
to get United States.
* MorphoSys does not expect any significant cash-effective sales
Milestone payments in 2023.
* MorphoSys anticipates sales of both commercial and clinical
Material from tafasitamab outside the US to its partner Incyte. the
Proceeds from these deliveries are included in the profit and loss account
von MorphoSys in the category “Licenses, Milestones and Miscellaneous”
expelled. These sales result in a gross profit/one
Zero gross margin. Therefore there MorphoSys none for these transactions
forecast off.
***
END OF AD HOC NOTICE
Information and explanations of the issuer to this communication:
above MorphoSys:
at MorphoSys we have a clear mission: we want people with cancer
enable a better and longer life. As a global, commercial
focused biopharmaceutical company, we use cutting-edge science and
Technologies to discover, develop and
to make available to patients. MorphoSys has its headquarters in
Planegg, Germany and conducts its business in the USA from Boston,
Massachusetts. More information can be found at www.morphosys.de. consequences
us on LinkedIn and Twitter.
Monjuvi® is a registered trademark of MorphoSys AG.
Forward-Looking Statements
This release contains certain forward-looking statements about
die MorphoSys-Group of companies. They include known and unknown
Risks and uncertainties that may cause the actual
Results, financial position, liquidity, performance or achievements
von MorphoSys or the results of the industry significantly different from the historical
or future results, financial position, liquidity, performance
or the achievements described in such forward-looking statements
expressed or implied. Even if the results that
performance, financial condition and liquidity of MorphoSys as well as the
Development of the industry in which MorphoSys is active with the
forward-looking statements, these may not apply to the
infer results or developments in future periods. to
the factors that can lead to discrepancies include the fact that
the expectations of MorphoSys might be inaccurate, the inherent
Uncertainties related to developments in competition, clinical
Studies and product developments as well as official approval requirements,
the dependence on cooperation with third parties, the assessment of the
commercial potential of the development programs of MorphoSys and other
Risks included in the risk factors in the annual report of MorphoSys on
Form 20-F and others filed with the US Securities and Exchange Commission
documents are listed. In view of these uncertainties,
Readers are advised not to inappropriately refer to such
to rely on forward-looking statements. These forward-thinking
Statements speak only as of the date of this publication
Document. MorphoSys expressly disclaims any obligation contained in this
document contained forward-looking statements to update them
to changed expectations or to changed events, conditions or
to adjust the circumstances on which these statements are based or which
Probability affect the actual results from the
in the forward-looking statements, except to the extent that
is required by law or regulation.
For more information please contact:
dr Julia Neugebauer
Head of Investor Relations
Tel: +49 (0)89 / 899 27 179
julia.neugebauer@morphosys.com
01/05/2023 CET/CEST The EQS distribution services include statutory
reporting requirements, corporate news/financial news and press releases.
Media archive at https://eqs-news.com
Language: German
Company: MorphoSys AG
Semmelweisstr. 7
82152 Planegg
Deutschland
Phone: +49 (0)89 899 27-0
Fax: +49 (0)89 899 27-222
E-Mail: investors@morphosys.com
Internet: www.morphosys.com
ISIN: DE0006632003
WKN: 663200
indices: SDAXTecDAX
Stock exchanges: Regulated market in Frankfurt (Prime Standard);
Open market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange; Nasdaq
EQS News ID: 1527931
End of message EQS News Service
1527931 05.01.2023 CET/CEST
°
Source: dpa-AFX