MorphoSys jumps pre-market on better-than-feared FY results

Morphosys AG

16/03/2023 07:05

** Shares of MorphoSys  MORG.DE  jump 10.8% in pre-market
trade after the German biotech firm announced
better-than-expected results on Wednesday
    ** A local trader says, the company rises on "better than
feared" FY numbers with revenues of 278 million euros  ($294.65
million) vs 247 million euros expected and FY EBIT loss of 221
million euros vs  loss of 257 million euros expected
    ** "Morphosys has cash of 907mn euros and can survive some
more years," a local trader adds
    ** The stock is at the top of the German small-caps index
 .SDAXI 

($1 = 0.9435 euros)

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))