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Entertainment: MorphoSys shares approaching twelve-month low in the pre-market period: MorphoSys plans higher expenses in 2021

MorphoSys share wins: MorphoSys exceeds forecasts for 2020 with sales and EBIT

 MorphoSys share wins: MorphoSys exceeds forecasts for 2020 with sales and EBIT Despite the corona pandemic, the biotech company MorphoSys performed better than it expected last year. © Provided by Finanz.net PHILIPPE HUGUEN / AFP / Getty Images The MDAX company benefited from the share in the sales of the psoriasis agent Tremfya from the Danish partner Janssen. According to preliminary calculations, the management now expects earnings before interest and taxes (EBIT) of EUR 27.4 million for the full year 2020, as announced to MorphoSys late on Monday evening.

MorphoSys expects increasing expenses in the current year, particularly in the area of ​​research and development.

TORU YAMANAKA/AFP/Getty Images © Provided by Finanz.net TORU YAMANAKA / AFP / Getty Images

The biopharmaceutical company listed in the MDAX and TecDAX also confirmed the preliminary figures for the past financial year. The group was in the black despite a loss in the final quarter.

"Despite the challenges posed by the global pandemic, we have had one of the most successful years as a company," said CEO Jean-Paul Kress, according to the announcement.

As announced earlier this month, sales increased to 327 from 72 million euros. The EBIT was 27.4 million euros after a loss of 108 million euros.

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The final figures show that research and development expenses increased by 30 percent to 141 million euros. The total operating expenses increased by 72 percent to 310 million euros. The bottom line is that MorphoSys earned 97.9 million euros. In the previous year, the group had made a loss of 103 million euros. The diluted earnings per share were EUR 2.97.

In the final quarter, however, the operating loss was 74.5 million euros, the group deficit was 16.5 million euros.

In 2021, MorphoSys expects operating expenses of 355 to 385 million euros, with research and development accounting for 45 to 50 percent. Sales should reach 150 to 200 million euros. The outlook also takes into account the recently announced milestone payment from Glaxosmithkline of over 16 million euros. Other potential milestone payments are not included.

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This is how the MorphoSys share reacts

After a disappointing outlook, the MorphoSys shares came under pressure on Tuesday before the trading session. The antibody specialist's shares are slipping at broker Lang & Schwarz to their latest twelve-month low at 80.76 euros. They lost up to 3.5 percent to 81 euros.

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