MorphoSys' financial results show positive '06

Published: 1-Mar-2007

MorphoSys has announced its financial results for the three-months' period and fiscal year ending December 31, 2006.


MorphoSys has announced its financial results for the three-months' period and fiscal year ending December 31, 2006.

The company achieved group revenues of Euro 53m, a positive cash flow from operations of €6.3m, and a net profit of €6m.

The firm's therapeutic segment formed three new multi-year partnerships with Schering-Plough, OncoMed Pharmaceuticals and Japanese pharmaceutical group Daiichi Sankyo, and extended and expanded three existing collaborations including Pfizer, Roche and Novartis.

Morphosys' partnered pipeline grew from 29 to 43 therapeutic antibody projects over the course of 2006. European Phase 1 clinical trials are ongoing with the company's Roche-partnered HuCAL-derived antibody to treat Alzheimer's disease.

Clinical trials for MOR103 for rheumatoid arthritis are planned for the second half of 2007, and a formal pre-clinical candidate MOR202 was selected.

The company privately placed 384,338 shares raising gross proceeds of approximately €17.1m.

'Antibodies comprise the largest class of biotherapeutic agents and one of the most important life sciences research tools,' said Simon Moroney, MorphoSys ceo.

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