MorphoSys ups guidance, signs deal with Pfizer and earns three milestones
Germany biotechnology firm MorphoSys (FSE: MOR) had a busy day last Friday, upgrading its financial forecasts, signing a deal with Pfizer and announcing the achievement of three clinical milestones from previous collaborations, and so drawing to the close of a year which the company says has been outstanding.
As a result of the achievement of revenues from additional commercial activities, resulting from the acquisition of Sloning BioTechnology GmbH in October, MorphoSys now expects full-year revenues between 91 million euros ($121.8 million) and 94 million euros (up from its previous guidance of 89 million euros to 90 million euros. Correspondingly, the operating profit guidance is also increased, and expected to range between 13 million euros and 16 million euros (previously 7 million euros to 9 million euros). Under the acquisition deal, Sloning’s shareholders were paid 19 million euros in cash.
Long-term alliance with Pfizer on Sloning technology platform
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