Morphosys slides on $300 mln debt drawdown

Morphosys AG

04/08/2022 08:14

** MorphoSys  MORG.DE  shares fall 5% after the German
biotech group announced a single $300 mln debt drawdown along
with already pre-announced Q2 results 
    ** The company said late on Wednesday it intended to draw
$300.0 million (€ 296 million) of a development funding bond
within a strategic funding partnership with Royalty Pharma
 RPRX.O   urn:newsml:reuters.com:*:nS8N2ZF05U
    ** Morphosys confirmed Q2 results which were in line with
its preliminary figures
    ** "With the results and guidance largely already known, the
only real surprise last night was the drawdown of the expensive
$300 million of debt, which could be received negatively, given
the very high coupon" JP Morgan commented


 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))