MorphoSys AG Raises FY19 Guidance - Quick Facts

(RTTNews) - MorphoSys AG (MOR, MPSYY.PK) increased its financial guidance for 2019 due to a milestone payment from GSK. For fiscal 2019, MorphoSys now expects revenues in the range 65 million euros to 72 million euros (up from prior guidance range of 43 million euros to 50 million euros). For the fiscal year, the company now projects a negative EBIT in the range of 105 million euros to 115 million euros (prior guidance range was a negative EBIT in the range of 127 million euros to 137 million euros).

GSK earlier announced the start of a phase 3 clinical development program with otilimab in rheumatoid arthritis. This triggers a milestone payment of 22 million euros to MorphoSys.