MOR - MorphoSys dips after narrowing 2021 revenue guidance

Dzmitry Dzemidovich/iStock via Getty Images MorphoSys (MOR) is trading ~4.8% lower after tightening its financial guidance for 2021, following a preliminary evaluation of its 2021 performance for the first six months. The company projects its group revenue for the year to be in the range of €155M to € 180M (previously: €150M to €200M), reflecting the updated sales expectations for Monjuvi. Group operating expenses are estimated at €435M to € 465M (previously: €355M to €385M) with R&D expenses accounting for 52 to 57% of group operating expenses (previously 45 - 50%) adjusted for one-off transaction-related costs. With the impact of revised sales estimates for Monjuvi, the balance sheet item of "Financial Liabilities from Collaborations, Net of Current Portion" indicates € 445.9M (as of June 30, 2021) lower than € 547.6M (as of March 31, 2021), MorphoSys said. The company attributed the change in debt position to “an accounting view of expected profits from

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MorphoSys dips after narrowing 2021 revenue guidance