On October 27, 2020 MorphoSys AG (FSE: MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ: MOR) reported an increase in its financial guidance for the financial year 2020 after preliminary completion of the latest evaluation of MorphoSys’ financial performance (Press release, MorphoSys, OCT 27, 2020, View Source [SID1234569206]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Based on the preliminary unaudited consolidated results for the first nine months 2020, MorphoSys now expects Group revenues in the range of €317 to €327 million (previously: €280 to €290 million) and an EBIT in the range of €10 to €20 million (previously: €-15 to €+5 million). R&D expenses are expected to remain unchanged in the range of €130 to €140 million.

The updated guidance reflects higher revenues from partnerships and collaborations and Tremfya royalties are expected to be at the upper end of guidance. In addition, it now also includes revenues from product sales of Monjuvi following its approval and subsequent launch in the U.S.

In the first nine months of 2020, MorphoSys recorded Group revenues of €291.7 million and an EBIT of €101.8 million. Further details will be published in the Company’s Q3 report on November 11, 2020.