MorphoSys Posts Wider Loss In Q1; Confirms 2018 Financial Guidance - Quick Facts

(RTTNews) - MorphoSys AG (MOR, MPSYY.PK) reported a first-quarter consolidated net loss of 19.5 million euros compared to a loss of 15.0 million euros, prior year. Loss per share was 0.67 euros compared to a loss of 0.52 euros. EBIT was negative at 19.0 million euros compared to a negative EBIT of 14.9 million euros. The company said the the operational loss reflects ongoing activities in the clinical development of the drug candidates as well as the expected revenue decrease.

First-quarter Group revenues totaled 2.8 million euros, compared to 11.8 million euros in the first quarter of 2017. The Group said the expected decline is mainly driven by the completion of the active partnership with Novartis, which ended in accordance with the contract in November 2017.

For the financial year 2018, MorphoSys continues to expect Group revenues in the range of 20 to 25 million euros. The company confirmed its guidance for negative EBIT in a range of 110 to 120 million euros.