MorphoSys expects 2014 revenues below 2013

Antibody company MorphoSys AG (Xetra:MOR; Pink:MPSYF) swung to a loss in 4Q13 and said it expects 2014 revenues to be below 2013 figures. The company's 2013 revenues of EUR 78 million ($107.3 million) were up from EUR 51.9 million ($71.4 million) in 2012. Diluted EPS for the year was EUR 0.54. For 2014, MorphoSys said it expects revenues of EUR 58-EUR 63 million ($79.8-$86.6 million), down from 2013 revenues that included several one-time payments, including the EUR 22.5 million ($29.3 million) that MorphoSys received up front after licensing MOR103 to GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) (see BioCentury Extra, June 3, 2013).

Revenues in the quarter were EUR 14.4 million ($19.8 million), down from EUR 16.5 million ($22.7 million). MorphoSys reported an operating loss in the quarter of EUR 3.5 million ($4.8 million) compared to a EUR 3.2 million ($4.4 million) operating profit in 4Q12. ...