MorphoSys raises 2006 guidance

Martinsried/Munich, Germany-based MorphoSys AG has provided an increased guidance for the financial year 2006. On the basis of new collaborations and the expansion of the collaboration with Novartis, an outperformance of revenues versus guidance was identified for the current year in the amount of up to 2.0 million euros ($2.5 million), which could increase 2006 revenues from 50.0 million euros to up to 52.0 million euros, the firm said.

Scope for reduction on expense guidance for the full year was also given, with a decrease in expenses of up to 3.0 million euros, which could decrease expenses for the full year to 46.0 million euros. The impact of these changes could result in earnings before interest and taxes of up to 6.0 million euros.