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Morphosys announced a new development partnership, then the newspapers reached Thursday the record of 2000.
They advanced in the first minutes to 119.20 euros, reaching their highest level since the year 2000. Last was the most then 3.80 percent to 117.50 euros. Of the 30 TecDax shares, this meant first place.
The biotech company had a licensing agreement in the morning MOR106 drug program with the Swiss pharmaceutical group Novartis. According to James Gordon badyst JPMorgan, the step increases the chances of success for the drug against atopic dermatitis. The resulting economic outlook is attractive. Morphosys wins a strong trading partner
Analyst Igor Kim of Oddo investment bank BHF described the terms of the deal as attractive and spoke of "very good news" as a partnership with MOR106 was not considered a determining factor in the near future, since Morphosys expects an advance payment of the cooperation, he has already taken into account in his estimates. With a new price target of 110 euros, he has maintained his purchase recommendation for shares.
In addition to the 95 million euro down payments, Morphosys and its development partner Galapagos are expecting to receive additional milestone payments of up to 850 million euros and a share of business figure that could easily be in the range of 20%. MorphoSys and Galapagos share all payments equally.
As a result, Morphosys also increased its forecast for the current fiscal year. The turnover should now be between 67 and 72 million euros and the operating loss (Ebit) should be significantly lower, between 55 and 65 million euros. Previously, management had forecast sales of 20 to 25 million euros, with an EBIT of 110 to 120 million euros.
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