FRANKFURT (Dow Jones)-German biotechnology company MorphoSys AG
(MOR.XE) said Thursday it swung to an after-tax loss in the first
half, narrower than expected by analysts, and confirmed 2012
guidance.
MAIN FACTS:
-MorphoSys AG reported an after-tax loss of 1 million euros
($1.23 million) in the first half of 2012, from profit of EUR15.0
million in the same period in 2011.
-The difference results mainly from a one-time payment from
Novartis AG (NVS) for the installation of MophoSys's HuCAL antibody
platform in the first half of 2011.
-Analysts had expected a EUR1.2 million loss for the first six
months of 2012.
-Group revenue was EUR33.0 million in the first half of the
year, down 51% from the year-earlier period.
-The loss per share in the first six months of 2012 was EUR0.04,
down from earnings of EUR0.65 per share a year earlier.
-The biotechnology company confirmed its full-year guidance of
EUR75 million-EUR80 million in revenue and EBIT of EUR1million-EUR5
million.
-In June the company expanded a clinical trial in collaboration
with Roche Holding AG (ROG.VX), which is evaluating the antibody
gantenerumab to treat Alzheimer's disease.
-"The progress with the HuCAL antibody gantenerumab for the
treatment of Alzheimer's disease is clearly a major event", chief
executive Dr. Simon Moroney said.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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