MorphoSys AG Reports First Quarter 2021 Results
ACCESSWIRE
06 May 2021, 06:43 GMT+10
Cost of Sales: In the first three months of 2021, cost of sales increased to € 5.0 million (3M 2020: € 3.3 million).
Research and Development (R&D) Expenses: In the first three months of 2021, research and development expenses were € 33.3 million (3M 2020: € 21.5 million). Growth over 2020 reflects the increased investment to support the advancement of proprietary programs and consisted primarily of expenses for external laboratory services and personnel expenses.
Selling, General and Administrative (SG&A) Expenses: Selling expenses increased in the first three months of 2021 to € 28.2 million (3M 2020: € 12.8 million) and general and administrative expenses remained almost unchanged at € 10.3 million (3M 2020:€ 10.1 million). The year-over-year increase in selling expenses was primarily driven by the full quarter impact of the expenses for services provided by Incyte as part of
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MorphoSys AG Reports First Quarter 2021 Results
Tremfya royalties of € 11.6 million
Reaffirming group revenue guidance of € 150 to € 200 million
Conference call and webcast (in English) tomorrow, May 6, 2021 at 2:00pm CEST
(1:00pm BST/8:00am EDT)
PLANEGG/MUNICH, GERMANY / ACCESSWIRE / May 5, 2021 / MorphoSys AG (FSE:MOR; NASDAQ:MOR) reports financial results for the first quarter of 2021. For 2021, our focus is on three key areas: executing on the Monjuvi launch; rapidly advancing the tafasitamab backbone strategy through additional clinical studies; and expanding our pipeline, said Jean-Paul Kress, M.D., Chief Executive Officer of MorphoSys. While we experienced headwinds from the pandemic in the first quarter, we are cautiously optimistic that the COVID-19 impact in the U.S. will start to diminish in the second half of 2021. We are confident in the potential of Monjuvi given its broad second-line label and overall profile in the r/r DLBCL setting. We are also making
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