MPSYF - MorphoSys lowers FY22 sales outlook for cancer drug Monjuvi on competition woes

• MorphoSys ( OTCPK:MPSYF ) ( NASDAQ: MOR ) lowered its FY22 outlook for cancer drug Monjuvi' U.S. net product sales and provided preliminary Q3 sales figures.
• Q3 Preliminary Monjuvi (tafasitamab-cxix) U.S. net product sales are $22.2M (€21.9M). For the nine- months of 2022 sales are $64.1M (€60.2M), the company said in a press release on Friday.
• Monjuvi, which is co-marketed by Incyte ( NASDAQ: INCY ) and MorphoSys in the U.S. — is used to treat adults with certain types of diffuse large B-cell lymphoma.
• "As indicated last quarter, we are seeing the impact of increased competitive activity with additional treatment options now available for patients with relapsed or refractory diffuse large B-cell lymphoma. This led to a sequential decline of Monjuvi sales in the third quarter," said MorphoSys CEO Jean-Paul Kress.
• For the full year 2022 , MorphoSys now expects Monjuvi U.S. net product sales of ~$90M (previous forecast was of $90M to $110M).
• The company noted that all other aspects of the financial guidance for 2022 remain unchanged .

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