MOR - MorphoSys adds 16% on faster timeline for Phase 3 myelofibrosis program

2023-04-05 11:58:46 ET

MorphoSys AG ( NASDAQ: MOR ) added ~16% in the morning hours Wednesday after the German biotech indicated a faster-than-expected timeline for its ongoing late-stage study for experimental therapy, pelabresib, against blood cancer myelofibrosis.

The company said it completed enrollment in the trial named MANIFEST-2, in which the BET inhibitor is tested against JAK inhibitor ruxolitinib, known as Jakafi, from Incyte ( INCY ) in myelofibrosis patients who have not previously received a JAK inhibitor.

MorphoSys ( MOR ) tests pelabresib with ruxolitinib against those with myelofibrosis who receive ruxolitinib as a single agent.

Topline data from the trial are expected by the end of the year, an earlier-than-expected milestone compared to the early 2024 timeline MorphoSys ( MOR ) indicated for the readout with its Q4 2022 results last month.

Concurrently, the company said that enrollment is also complete for its Phase 3 frontMIND study. The 880-patient trial is a partnership between MorphoSys ( MOR ) and Incyte ( INCY ) to evaluate tafasitamab, plus lenalidomide in addition to R-CHOP combination or R-CHOP alone as a first-line treatment for diffuse large b-cell lymphoma.

Tafasitamab is marketed as Monjuvi in the U.S. and Minjuvi by Incyte ( INCY ) outside the U.S.

Seeking Alpha contributor BiotechValley Insights says tafasitamab and pelabresib are MOR’s “two key value drivers.”

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