Morphosys's FY 2007 net profit doubles
German synthetic antibody specialist MorphoSys AG says that, for the fiscal year 2007, its operating profit reached 7.0 million euros ($23.1 million), up 12.9% on the 2006 financial year. Additionally, the firm's net profit for the period was 11.5 million euros, almost double that achieved the previous year, equivalent to earnings per share of 1.59 euros.
Group revenues for the full-year 2007 were 62.0 million euros, up 17%, with the most significant gain being made by its therapeutic antibody segment, which grew 68% to 42.4 million euros. MorpoSys' AbD research antibody division contributed 19.6 million, up 32% for the period. The firm's total operating costs rose 17% to 54.9 million, while its R&D grew 4.7 million euros to 22.2 million euros due to increased spending on its MOR103 and MOR 202 programs.
2008 outlook
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