3:40 PM
Nov 06, 2018
 |  BC Extra  |  Company News

MorphoSys shares jump amid Tremfya guidance, MOR208 data

MorphoSys AG (Xetra:MOR; NASDAQ:MOR) shares rose Tuesday after the company said in its 3Q18 earnings that plaque psoriasis drug Tremfya guselkumab could generate 2018 royalties at the upper end of the biotech's previous guidance. MorphoSys also reported EPS that was well ahead of the consensus estimates.

MorphoSys gained $4.17 (17%) to $28.95 on NASDAQ and €7.55 to €102.50 in Germany.

MorphoSys CFO Jens Holstein told BioCentury that updated data from the Phase II L-MIND trial of MOR208 -- although released last week -- could have also played a role in the company's stock move.

Tremfya royalties may buoy revenues for the year; Holstein signaled during the earnings call...

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