MorphoSys Pins Hopes On Pelabresib For Near-Term Value After Tumultuous 2022

Cost-Cutting Measures In Place

16 Mar 2023

• By Ayisha Sharma

The German biotech has highlighted its myelofibrosis drug candidate, pelabresib, as a key value driver going forward after a year of hard knocks and lackluster Monjuvi sales that forced the firm to downsize its workforce and cease preclinical operations.

Yellow background with black arrows pointing up and down, demonstrating mixed views — MorphoSys Saw Partnership-Related Ups And Downs Last Year • Source: Shutterstock

MorphoSys AG is refocusing efforts on its mid- to late-stage oncology pipeline, including its myelofibrosis candidate pelabresib, after a year of ups and downs that culminated in cost-cutting measures announced earlier this month.

The firm’s fourth-quarter revenues dipped by 15% from the previous quarter to €81.6m. Despite the drop, J.P. Morgan analyst James Gordon said in a 16 March note that the figure beat his estimates by 34% due to higher-than-expected licensing and milestone income of €27.9m

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

Start your 7-day free trial
Explore trusted news, analysis, and insights
Access comprehensive global coverage
Enjoy instant access – no credit card required

Start Free Trial

Already a subscriber?

Merck’s Welireg Adrenal Tumor Rollout Targets Specialized Centers

15 May 2025

• By Alaric DeArment

The drugmaker won US FDA approval for the HIF-2α inhibitor in pheochromocytoma and paraganglioma, a rare cancer of the adrenal glands, in adolescents and adults.

China Biopharma Podcast

14 May 2025

• By Dexter Jie Yan and Xu Hu

Join our China-based editors Dexter Yan and Xu Hu in this Chinese-language podcast looking at some of their recent interviews and other key coverage.

iTeos/GSK To Terminate Collaboration After TIGIT Trials Flop

13 May 2025

• By Alaric DeArment

Belrestotug is the latest anti-TIGIT candidate to fail to meet expectations. iTeos said it will pursue strategic alternatives.

‘Market Developments’ Persuade Galapagos To Rethink Spin-Off

13 May 2025

• By Andrew McConaghie

CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.