MorphoSys to present results of blood cancer drug study earlier, shares rise

Morphosys AG

05/04/2023 08:23

** Shares in MorphoSys  MORG.DE  rise 3% after the German
biotech firm said it would announce results of the study of its
blood cancer drug candidate by end of 2023, earlier than
expected
        ** MorphoSys said it had completed the enrollment for
MANIFEST-2, the ongoing Phase 3 study to explore  the efficacy
and safety of pelabresib in patients with myelofibrosis
    ** A local trader says the results were originally expected
in 2024
        ** J.P.Morgan says the update will be slightly positive
for the shares, with the pelabresib update providing possible
2023 pipeline optionality
    ** Still, it sees the pelabresib Phase III binary readout as
high risk

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