MorphoSys Reports Profit In Q1; Affirms Guidance - Quick Facts

(RTTNews) - MorphoSys (MOR, MPSYY.PK) reported first quarter net profit of 195.5 million euros compared to a loss of 22.7 million euros, prior year. Basic profit per share was 6.12 euros compared to a loss of 0.72 euros. The company's first quarter was positively impacted by upfront payment of Incyte collaboration. EBIT was at 213.6 million euros compared to a negative EBIT of 23.6 million euros, with the increase primarily driven by the collaboration and licensing agreement with Incyte.

First quarter Group revenue increased to 251.2 million euros from 13.5 million euros, last year, mainly driven by the upfront payment from the Incyte collaboration.

For fiscal 2020, MorphoSys confirmed its financial guidance. The company continues to expect Group revenues in the range of 280 million euros to 290 million euros.