|Over a week ago|
MorphoSys downgraded to Sector Perform from Outperform at RBC Capital » 05:3606/2506/25/20
RBC Capital analyst Zoe…
RBC Capital analyst Zoe Karamanoli downgraded MorphoSys to Sector Perform from Outperform with a EUR 130 price target. The analyst sees potential for strong uptake in relapsed or refractory diffuse large B-cell lymphoma but notes the progress of Tafa in other indications has been slow.
|Over a month ago|
AstraZeneca cancer drug shows signs of helping in severe COVID-19, Reuters says » 14:1106/0506/05/20
AZN, REGN, SNY, RHHBY, MOR, GSK
Preliminary research involving 19 patients shows signs that AstraZeneca's (AZN) blood cancer drug Calquence may help hospitalized COVID-19 patients get through the worst of the disease, Reuters reported, citing results in a paper co-authored by the drugmaker's head of oncology research. The executive, Jose Baselga, told Reuters: "These patients were in a very unstable situation, they would have had a dire prognosis ... Within one to three days the majority of these patients got better in terms of ventilation and oxygen needs." Other autoimmune disease drugs that are being tested for their ability to combat the over-reaction of the immune system, known as "cytokine storm," that is seen in severe COVID-19 cases include Regeneron (REGN) and Sanofi's (SNY) Kevzara, Roche's (RHHBY) Actemra and Morphosys (MOR) and GlaxoSmithKline's (GSK) otilimab, the report noted. Reference Link
MorphoSys announces long-term follow-up results from L-MIND study of tafasitamab » 09:5405/1405/14/20
MorphoSys (MOR) and…
MorphoSys (MOR) and Incyte (INCY) reported updated results from the ongoing Phase 2 L-MIND study investigating the combination of tafasitamab and lenalidomide in patients with relapsed or refractory diffuse large B-cell lymphoma, or r/r DLBCL. The results, based on a November 30, 2019 data cut-off, corroborate previously reported primary analysis data, the companies said. In this long-term analysis of the L-MIND data, 80 study patients receiving tafasitamab plus lenalidomide were included in the efficacy analysis. After a minimum of two years' follow-up, outcomes from the L-MIND study are consistent with the primary analysis and confirm the durability of the response and overall survival of tafasitamab in combination with lenalidomide followed by tafasitamab monotherapy in autologous stem cell transplantation-ineligible patients with r/r DLBCL. Assessment by an independent review committee at data cut-off showed an objective response rate of 58.8%, or 47 out of 80 patients, and a complete response rate of 41.3%, or 33 out of 80 patients. Median duration of response was 34.6 months, with median overall survival of 31.6 months and median progression-free survival of 16.2 months. The safety profile was consistent with that observed in previously reported studies of tafasitamab in combination with lenalidomide. The full analysis will be presented virtually at the EHA Annual Congress to be held June 11-14.
MorphoSys price target raised to EUR 105 from EUR 100 at Barclays » 11:3005/1305/13/20
Barclays analyst Emmanuel…
Barclays analyst Emmanuel Papadakis raised the firm's price target on MorphoSys to EUR 105 from EUR 100 and keeps an Equal Weight rating on the shares.
MorphoSys upgraded to Hold from Reduce at HSBC » 06:5705/1205/12/20
HSBC analyst Julie Mead…
HSBC analyst Julie Mead upgraded MorphoSys to Hold from Reduce with a price target of EUR 114, up from EUR 109,m, stating that the tafasitamab risks appear more balanced after the FDA accepted the company's submission in r/r DLBCL based on data from the L-MIND and RE-MIND studies. While tafasitamab risks remain, they appear more balanced at the current valuation, Mead argues.
MorphoSys, I-MAB announce 1st patient dosed in multiple myeloma study in China » 16:4304/2704/27/20
I-Mab (IMAB) and…
I-Mab (IMAB) and MorphoSys (MOR) jointly announced that the first patient has been dosed in a phase 3 clinical study in mainland China to evaluate MorphoSys' investigational human CD38 antibody TJ202/MOR202 in combination with lenalidomide plus dexamethasone in patients with relapsed or refractory multiple myeloma (r/r MM). Under a licensing agreement with MorphoSys, I-Mab has exclusive rights for development and commercialization of TJ202/MOR202 in mainland China, Taiwan, Hong Kong and Macao.The clinical trial in mainland China is a randomized, open-label, parallel-controlled, multi-center study to evaluate the efficacy and safety of the combination of TJ202/MOR202, lenalidomide and dexamethasone versus the combination of lenalidomide and dexamethasone in patients with r/r MM who received at least one prior line of treatment. This multi-center study has already started at sites in Taiwan in April 2019 and now officially started in mainland China as part of the coordinated effort to accelerate the study. "TJ202/MOR202 is a front-runner candidate that adequately demonstrates our fast-to-market development strategy, representing a highly differentiated clinical development approach to provide new treatment options for unmet medical needs," said Dr. Joan Shen, CEO of I-Mab. "The phase 3 study is the second registrational trial of TJ202 as a potential second line treatment option for patients with multiple myeloma in Greater China." "We are delighted that our partner I-Mab has dosed the first patient in the ongoing phase 3 study for TJ202/MOR202 in mainland China, which marks an important step in the development of this compound," commented Dr. Malte Peters, Chief Research & Development Officer of MorphoSys. "There is a high need for the treatment of patients with r/r multiple myeloma in the Greater China area and we look forward to the further development of TJ202/MOR202 by our partner I-Mab in this indication."
MorphoSys names Roland Wandeler as Chief Commercial Officer » 16:2704/2104/21/20
MorphoSys (MOR) announced…
MorphoSys (MOR) announced the appointment of Roland Wandeler, Ph.D., as Chief Commercial Officer of MorphoSys, effective May 5, 2020. Mr. Wandeler will be responsible for all commercialization activities worldwide and will oversee the company's U.S. operations with its planned launch of MorphoSys' proprietary anti-CD19 antibody tafasitamab, which is currently under priority review with the FDA. Prior to MorphoSys, Mr. Wandeler held positions of increasing responsibility at Amgen (AMGN)., including General Manager Germany in Munich and General Manager Spain & Portugal in Barcelona, before most recently serving as Corporate Vice President and General Manager of Amgen's US Bone Health and Cardiology Business Unit in Thousand Oaks, California.
|Over a quarter ago|
Incyte price target lowered to $85 from $99 at Oppenheimer » 08:0903/2503/25/20
Oppenheimer analyst Jay…
Oppenheimer analyst Jay Olson lowered the firm's price target on Incyte (INCY) to $85 from $99 and keeps an Outperform rating on the shares. The analyst is adjusting his 2020 revenue and earnings estimates based on systemic headwinds from COVID-19 which he expects to interrupt office visits and new prescriptions. Meanwhile, Incyte partner MorphoSys (MOR) confirmed no delays in the tafasitamab BLA review process despite COVID-19, he adds. Olson remains optimistic about potential synergies as overlap between tafasitamab and Jakafi in the community setting is over 90%.
MorphoSys sees FY20 revenue EUR 280M-EUR 290M » 18:0003/1803/18/20
For FY20, MorphoSys will…
For FY20, MorphoSys will continue to invest strongly in the development of its proprietary candidates, with the primary goal of driving tafasitamab to market and preparing the company for its commercialization. For 2020, MorphoSys expects to generate group revenues in the range of EUR 280M-EUR 290M. This guidance does not include revenues generated from tafasitamab and revenues from future collaborations and/or licensing agreements. Revenues are expected to include royalty income from Tremfya of EUR 37M-EUR 42M. R&D expenses are anticipated in a corridor of EUR 130M-EUR 140M. The company expects earnings before interest and taxes of (EUR 15M)-EUR 5M. The guidance is based on constant currency exchange rates and does not include any contributions from tafasitamab revenues and any effects from potential in-licensing or co-development deals for new development candidates. The operational and financial guidance does not include a potential impact of the ongoing global COVID-19 crisis on MorphoSys' business operations including but not limited to the company's supply chain, clinical trial conduct, as well as timelines for regulatory and commercial execution.
MorphoSys reports FY19 revenue EUR 71.8M vs. EUR 76.4M last year » 17:5703/1803/18/20
The company reported EUR…
The company reported EUR 357.4M in cash at year-end 2019.