Brief: Morphosys Stops Work And Operations On Pre-Clinical Research Programs And Reduces Workforce At Its Germany Headquarters

Morphosys AG

02/03/2023 08:36

March 2 (Reuters) - MORPHOSYS AG  MORG.DE :
    * MORPHOSYS STOPS WORK AND OPERATIONS ON PRE-CLINICAL
RESEARCH
PROGRAMS AND REDUCES WORKFORCE AT ITS GERMANY HEADQUARTERS
    * S STOPS WORK AND OPERATIONS ON PRE-CLINICAL RESEARCH
PROGRAMS
AND REDUCES WORKFORCE AT ITS GERMANY HEADQUARTERS
    * TODAY ANNOUNCES THAT IT WILL STOP WORK AND OPERATIONS ON
ITS
PRE-CLINICAL RESEARCH PROGRAMS TO OPTIMIZE ITS COST STRUCTURE
    * . AS A RESULT, MORPHOSYS WILL REDUCE ITS WORKFORCE AT
COMPANY'S
HEADQUARTERS IN PLANEGG, GERMANY, BY APPROXIMATELY 17%.
    * WHILE DATA FROM THESE PRE-CLINICAL PROGRAMS ARE PROMISING,
MORPHOSYS WOULD NEED TO MAKE SUBSTANTIAL INVESTMENTS TO BRING
THESE PROGRAMS INTO CLINIC
    * COMPANY WILL FOCUS ITS REMAINING RESEARCH WORK ON
TRANSLATIONAL
RESEARCH AND TECHNICAL DEVELOPMENT SUPPORT FOR ITS MID- TO
LATE-STAGE CLINICAL PROGRAMS

Source text for Eikon:  ID:nEQ3l1Pjda 
Further company coverage:  MORG.DE 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))