Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Technology
Vandana Singh

MorphoSys Discontinues US Discovery Activities, Takes €231M Impairment Charge

MOR (Organization) MorphoSys United States Germany
  • MorphoSys AG (NASDAQ:MOR) has reported a non-cash impairment charge of €231 million on goodwill after consolidating research and discovery functions.
  • This write-down results from the consolidation of the Company's research and discovery activities after the acquisition of Constellation Pharmaceuticals.
  • MorphoSys decided to focus its research activities on the most advanced programs and centralize all laboratory activities at its German research hub in Planegg, Germany.
  • Read Next: MorphoSys Presents Early Felzartamab Data From Autoimmune Kidney Disease Trial.
  • All US-based activities relating to discovery biology and drug discovery departments were discontinued.
  • Early pipeline projects cannot be realized anymore, and the expected cash flows from these projects will not materialize accordingly.
  • Price Action: MOR shares are down 0.93% at $6.42 during the market session on the last check Thursday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Keira Knightley Revisits "Trauma" of Being Accused of Having an Eating Disorder
"I'll suddenly have a very bodily memory of it because, ultimately, it's public shaming."
Marie Claire
Marie Claire
Keira Knightley recalls ‘public shaming’ she felt amid claims she had an eating disorder
‘It’s obviously part of my psyche, given how young I was,’ she recalls about the eating disorder claims
The Independent UK
The Independent UK
The Simpsons: Hit & Run dev says they could've made 3 sequels without paying a penny for the license: "Some crazy person at the publisher - we never found out who - said no"
"We never imagined it would still be bringing some people happiness 20 years later!"
GamesRadar
GamesRadar
Wrestler, film star – and future president? Why we should all take Dwayne ‘The Rock’ Johnson seriously
The WWE icon, already one of Hollywood’s highest-paid film stars, has shown himself to be ‘focus group-proof’
The Guardian - UK
The Guardian - UK
Eating this fruit before bed can help you sleep better – but expert opinions are divided
TikTok strikes again with its avocado sleep hack – but does it actually work?
T3
T3
Cher was ‘shocked’ to discover her legal name after birth certificate mix-up
Pop icon had gone for years without knowing what was written on her birth certificate
The Independent UK
The Independent UK
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play