Germany’s MorphoSys AG has long been considered an anomaly in the biotech world because of its ability to report a profit even before it has its first drug on the market. The company said profitability is not likely to change in the “near term,” even though it’s selling-off its main revenue-generating operation in exchange for “a laser-like” focus on its pipeline.
“You shouldn't interpret what I've just said as in any way guidance that we intend to leave profitability in the...
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