MorphoSys chronicles

MorphoSysshares have risen more than 600% since the end of 2002, when the company annnounced an agreement settling all patent disputes with Cambridge Antibody on the generation of human antibodies using phage display. But compared to an index of its peers, MorphoSys (FSE:MOR) has underperformed. The equal-weighted index includes Crucell (CRXL), Dyax (DYAX), Genmab (CSE:GEN), Immunomedics (IMMU), Medarex (MEDX) and PDL BioPharma (PDLI). Below are selected events tracked against MOR's weekly stock price. Peer group index and MOR's stock price indexed to 1,000 as of Dec. 31, 2001. A. 4/22/02 - MorphoSys (NMarkt:MOR) outlines product strategy: in addition to its research service business, it is developing proprietary monoclonal antibodies to treat inflammation, cancer and infectious diseasesB. 11/5/02 - Says it will reduce its headcount by 24% to 91 from 120 employees and move MorphoSys USA to its headquarters in Munich to cut costs and ensure at least three more years of operation

C. 12/23/02 - Gains E1.96 (41%) to E6.73 after announcing that it and Cambridge Antibody Technology, now part of AstraZeneca (LSE:AZN; AZN), agreed to settle their patent disputes. The deal covers MOR's HuCAL libraries...