Roche, Morphosys sink as Alzheimer's drug fails to meet goal

Morphosys AG

14/11/2022 07:26

** Shares in Germany's Morphosys  MORG.DE  slump 22% in
early Frankfurt trade after its licensing partner Roche  ROG.S 
said its Alzheimer's drug candidate could not clearly be shown
to slow dementia progression 
    ** The studies of gantenerumab failed to reach its main goal
showing the drug could preserve abilities, such as remembering,
solving problems, orientation and personal care
    ** "Morphosys last hope destroyed…," a local trader says
    ** Morphosys would have received tiered royalties of about
2% to 3% on future gantenerumab sales from its early role in
developing the drug
    ** Roche shares fall 4.76% in pre-market trade
 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))