SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF A FOREIGN ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For August 07, 2020

Commission File Number 1-38455

 

 

MorphoSys AG

 

 

Semmelweisstrasse 7

82152 Planegg

Germany

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ☐        No  ☒

If ‘‘Yes’’ is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

 

 

 


Exhibits

 

99.1    MorphoSys Reports Second Quarter and First Half 2020 Results – Press Release
99.2    Results Q2 2020 – Presentation


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    MORPHOSYS AG (Registrant)
Date: August 07, 2020     By:  

/s/ Jens Holstein

    Name:   Jens Holstein
    Title:   CFO
    By:  

/s/ Dr. Anja Pomrehn

    Name:   Dr. Anja Pomrehn
    Title:   Head of Investor Relations
EX-99.1

Exhibit 99.1

 

LOGO

Media Release

Planegg/Munich, Germany, August 5, 2020

MorphoSys Reports Second Quarter and First Half

2020 Results

Conference call and webcast (in English) to be held on August 6, 2020 at 2:00pm CEST (1:00pm BST/8:00am EDT)

MorphoSys AG (FSE: MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ: MOR) reports results for the second quarter and first half of 2020.

Financial Results for the First Half of 2020

 

   

Group revenue increased to €269.7 million (H1 2019: €48.2 million), mainly driven by the upfront payment from the Incyte collaboration in Q1 2020

 

   

EBIT thus reached €163.5 million (H1 2019: €-29.3 million)

 

   

Liquidity position of €1.06 billion at end of Q2 2020 (December 31, 2019: €357.4 million)

 

   

Financial guidance for 2020 (excluding Monjuvi® contribution) confirmed: Group revenues of €280 to €290 million, R&D expenses of €130 to €140 million, EBIT of €-15 to €5 million

Highlights Second Quarter 2020 and beyond

 

   

Proprietary Development

 

   

Monjuvi® (Tafasitamab-cxix)

 

   

FDA approves Monjuvi® (tafasitamab-cxix) in combination with lenalidomide for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for autologous stem cell transplant

 

   

Validation of European Marketing Authorization Application (MAA), seeking approval of tafasitamab in combination with lenalidomide, followed by tafasitamab monotherapy, for the treatment of adult patients with r/r DLBCL

 

   

Long-term follow-up results from ongoing L-MIND study in r/r DLBCL confirm previously reported results

 

   

First-MIND study in newly diagnosed DLBCL patients is on track, as are plans to start a pivotal study in this patient population in early 2021

 

   

Presentation of tafasitamab data at virtual annual meetings of American Society of Clinical Oncology (ASCO) and European Hematology Association (EHA)

 

Page 1 of 9


   

Felzartamab (MOR202)

 

   

I-Mab: First phase 3 patient in mainland China treated in relapsed or refractory multiple myeloma

 

   

MorphoSys: Recruitment of patients for the M-PLACE study with felzartamab in membranous nephropathy, which has been temporarily paused due to the COVID-19 pandemic, has been resumed. The first patient was dosed on July 27, 2020

 

   

Otilimab (MOR103/GSK3196165)

 

   

GSK started a clinical trial (OSCAR) to evaluate the efficacy and safety of otilimab in patients with severe pulmonary COVID-19-associated disease

 

   

Partnered Discovery

 

   

Janssen: FDA approval of Tremfya® (guselkumab) as a treatment for adult patients living with active psoriatic arthritis (PsA)

 

   

15th antibody from Novartis collaboration entered clinical development

 

   

Roland Wandeler, Ph.D., appointed to MorphoSys’ Management Board, effective May 5, 2020, in his function as today’s Chief Operating Officer leading global commercial operations and overseeing the Company’s U.S. operations

 

   

Re-election of Wendy Johnson, Dr. George Golumbeski and Michael Brosnan to MorphoSys’ Supervisory Board by the Company’s Annual General Meeting on May 27, 2020

Update on the Impact of the Global COVID-19 Pandemic:

 

   

MorphoSys recognizes the impact of the global COVID-19 pandemic on healthcare systems and society worldwide, as well as the resulting potential impact on preclinical and clinical programs, especially clinical trials. In addition to the steps already communicated to mitigate the impact of the pandemic on MorphoSys’ employees, patients and the broader community, further measures may need to be implemented in the future. MorphoSys will take various factors into consideration, including potential adaptation of clinical trials due to restrictions on visits to healthcare facilities, increased demands on healthcare services and changes in the availability of study personnel. MorphoSys continuously monitors the situation and takes appropriate decisions on a case-by-case basis to ensure the safety of patients, study personnel and other stakeholders as well as to safeguard data integrity.

 

   

MorphoSys and Incyte are prepared for the successful commercial launch of Monjuvi® (tafasitamab-cxix), following its FDA approval on July 31, 2020. Despite the uncertainty caused by the COVID-19 pandemic in the United States, the commercial and medical teams of both companies are well-prepared for the launch of Monjuvi®, using a combination of virtual engagement tools.

 

   

Patient enrollment for all ongoing tafasitamab studies continues as planned. However, a delay cannot be excluded due to the factors mentioned above.

 

Page 2 of 9


   

Recruitment of patients for the M-PLACE study with felzartamab, which had been temporarily paused due to the COVID-19 pandemic, has been resumed.

“We are all very proud that Monjuvi® received FDA approval as a combination therapy with lenalidomide,” commented Jean-Paul Kress, M.D., Chief Executive Officer of MorphoSys. “This accelerated approval is an important milestone, not only for MorphoSys, but also for patients battling relapsed or refractory diffuse large B-cell lymphoma, as Monjuvi® is the first FDA-approved second-line therapy for adult patients with DLBCL. The approval not only marks an important transformational step for MorphoSys into an integrated biopharmaceutical company but also provides a significant value creation opportunity for all our stakeholders.”

“We are very excited with the accelerated approval of Monjuvi® by the FDA,” added Jens Holstein, Chief Financial Officer of MorphoSys. “MorphoSys is well prepared for its next step as an integrated biopharmaceutical company given our strong financial position. We, together with our partner Incyte, will drive forward the launch of Monjuvi® in the United States.”

Financial Review for Q2 2020 (IFRS)

Group revenues for the second quarter of 2020 amounted to €18.4 million (Q2 2019: €34.7 million). The revenues include success-based payments of €12.8 million, primarily from Janssen (Q2 2019 success-based payments: €32.4 million, including a milestone payment from GSK of €22.0 million).

In the Proprietary Development segment, MorphoSys researches and develops its own drug candidates for cancer and inflammation. In Q2 2020, this segment recorded revenues of €5.0 million (Q2 2019: €25.9 million). The decline primarily reflects the €22.0 million milestone payment from GSK which was booked in the same time period of last year.

In the Partnered Discovery segment, MorphoSys applies its proprietary technology to discover new drug candidates for pharmaceutical companies and thus participates in its partners’ development advancements through research and development (R&D) funding, licensing fees, success-based milestone payments and royalties. Revenues in the Partnered Discovery segment climbed to €13.4 million in Q2 2020 from €8.7 million in Q2 2019.

Total operating expenses increased to €-66.8 million from €-40.3 million in the same time period last year, due to the expenditure in relation to the preparations for the anticipated Monjuvi® U.S. commercialization as well as the further expansion of MorphoSys US Inc. Cost of sales amounted to €+7.2 million versus €-4.9 million in the same quarter of 2019, while R&D expenses rose to €-30.9 million as compared to €-24.7 million in Q2 2019. Selling expenses in Q2 2020 increased to €-29.3 million (Q2 2019: €-3.2 million) and general and administrative expenses to €-13.8 million (Q2 2019: €-7.5 million). The increase of the two latter was primarily driven by higher personnel expenses and expenses for external services in association with the preparation for the Monjuvi® launch. Selling expenses also comprised expenses for services rendered by Incyte in connection with the joint US activities.

 

Page 3 of 9


Earnings before interest and taxes (EBIT) for the Group amounted to €-50.1 million in Q2 2020 versus €-5.7 million in Q2 of the previous year. The Proprietary Development segment reported an EBIT of €-51.3 million (Q2 2019: €-7.0 million), while Partnered Discovery segment delivered an EBIT of €11.1 million (Q2 2019: €6.3 million). The consolidated net loss was €-53.1 million (Q2 2019: €-5.9 million). Basic earnings per share were €-1.62 compared to €-0.19 in Q2 2019.

On June 30, 2020, the Group’s liquidity position amounted to €1,061.8 million. This liquidity position is reported on the balance sheet under the items “cash and cash equivalents”, “financial assets at fair value through profit or loss”, and current and non-current “other financial assets at amortized cost”.

The number of shares issued totaled 32,890,046 at the end of Q2 2020 (year-end 2019: 31,957,958).

Results for the First Half 2020 (IFRS)

During the first half of 2020, Group revenues soared to €269.7 million from €48.2 million in the first half of last year. The increase was primarily driven by the collaboration and licensing agreement with Incyte in the first quarter of this year to further develop and commercialize tafasitamab globally. Research and development expenses amounted to €-52.4 million versus €-49.3 million in the same time period last year. The EBIT rose to €163.5 million, compared to €-29.3 million in H1 2019.

Financial Guidance and Operational Outlook for 2020

For the financial year 2020, MorphoSys confirmed its financial guidance. Management continues to expect Group revenues in the range of €280 to €290 million, R&D expenses of €130 to €140 million and EBIT of €-15 to €5 million. This guidance is based on constant currency exchange rates and does not include any contributions from Monjuvi® revenues and any effects from potential in-licensing or co-development deals for new development candidates. The operational and financial guidance might potentially be impacted by the ongoing global COVID-19 crisis on MorphoSys’ business operations including but not limited to the Company’s supply chain, clinical trial conduct, as well as timelines for regulatory and commercial execution. While MorphoSys is maintaining its previously communicated guidance on its clinical trials, these could potentially be affected in terms of patient enrollment and data collection timelines, among other factors.

Ongoing Trials and Other Highlights

 

   

Proprietary Development

 

   

Monjuvi® (Tafasitamab-cxix)

 

   

Launch of Monjuvi® (tafasitamab-cxix) using a combination of virtual engagement tools to address customer needs and to grow connectivity with customers, following Monjuvi®´s FDA approval on July 31, 2020. Monjuvi® is expected to be available commercially shortly

 

Page 4 of 9


   

Continue phase 1b study First-MIND in previously untreated DLBCL

 

   

Continue pivotal phase 3 trial evaluating tafasitamab plus bendamustine in r/r DLBCL in comparison to rituximab and bendamustine (B-MIND trial)

 

   

Continue phase 2 COSMOS trial of tafasitamab with idelalisib and venetoclax in CLL/SLL

 

   

Expansion of tafasitamab´s clinical development beyond DLBCL under the collaboration and licensing agreement with Incyte

 

   

Felzartamab (MOR202)

 

   

I-Mab: Continue pivotal development program with felzartamab in multiple myeloma in the Chinese region

 

   

MorphoSys: Continue clinical development of felzartamab in membranous nephropathy; recruitment of patients in the M-PLACE study was resumed after having been temporarily paused due to COVID-19. The first patient was dosed on July 27, 2020

 

   

Otilimab (MOR103/GSK3196165)

 

   

GSK to continue clinical phase 3 development program with otilimab in rheumatoid arthritis

 

   

Partnered Discovery

 

   

Tremfya® (Guselkumab)

 

   

Janssen is currently conducting a series of clinical studies with Tremfya® (guselkumab) in various indications, some of which could generate data during 2020. In 2019, Janssen submitted marketing authorization applications to the U.S. FDA and EMA for Tremfya® for the treatment of psoriatic arthritis. On July 14, 2020, Janssen reported the approval of Tremfya® as a treatment for adult patients with active psoriatic arthritis by the U.S. FDA. A decision on the EMA application could potentially also be made in 2020.

 

   

Other partnered programs

 

   

Publication of clinical data and achievement of regulatory milestones from other partnered programs may occur during 2020. Whether, when and to what extent news will be published following the primary completion of trials in the Partnered Discovery segment is at the full discretion of MorphoSys’ partners.

MorphoSys will continue to support its proprietary development activities by evaluating potential in-licensing, co-development, acquisition opportunities or the potential initiation of new proprietary development programs with the goal of maintaining and expanding the Company’s position in its current therapeutic and technological fields of activities.

MorphoSys continues its expansion of strategic presence of MorphoSys US Inc.

 

Page 5 of 9


MorphoSys Group Key Figures (IFRS, June 30, 2020)

 

in EUR million

   Q2 2020     Q2 2019     D     H1 2020     H1 2019     D  

Revenues

     18.4       34.7       (47%     269.7       48.2       >100

Total operating expenses

     (66.8     (40.3     (66%     (114.5     (77.5     (48%

Cost of sales

     7.2       (4.9     >100     4.0       (9.9     >100%  

R&D expenses

     (30.9     (24.7     (25%     (52.4     (49.3     (6%

Selling expenses

     (29.3     (3.2     >(100%     (42.1     (4.9     >(100%

G&A expenses

     (13.8     (7.5     (84%     (23.9     (13.4     (78%

Other income/expense

     (1.7     (0.1     >(100%     8.3       0.0       >100

EBIT

     (50.1     (5.7     >(100%     163.5       (29.3     >100

Net profit/loss

     (53.1     (5.9     >(100%     179.8       (28.5     >100

Earnings per Share, basic (in EUR)

     (1.62     (0.19     >(100%     5.56       (0.90     >100

Cash position (end of period)

     1,061.8       409.2       >100     1,061.8       409.2       >100

Equity ratio (end of period) (in %)

     46.1       83.2       (37.1 PP*     46.1       83.2       (37.1 PP*

No. of R&D programs (end of period)

     115       119       (3%     115       119       (3%

No. of clinical programs (end of period)**

     27       29       (7%     27       29       (7%

No. of proprietary clinical programs (end of period)***

     3       5       (40%     3       5       (40%

 

*

Percentage point

**

Tremfya® is still considered as a clinical program due to ongoing studies in various indications.

***

Including otilimab (MOR103/GSK3196165), which is fully out-licensed to GSK.

 

Page 6 of 9


MorphoSys will hold its conference call and webcast tomorrow, August 6, 2020, to present the second quarter and first half financial results 2020 and the further outlook for 2020.

Dial-in number for the analyst conference call (in English) at 2:00pm CEST; 1:00pm BST; 8:00am EDT:

 

Germany:    +49 69 201 744 220
For UK residents:    +44 203 009 2470
For US residents:    +1 877 423 0830
(all numbers reachable from any geography)
Participant PIN:    43014391#

Please dial in 10 minutes before the beginning of the conference.

A live webcast and slides will be made available at www.morphosys.com.

Approximately two hours after the call, a slide-synchronized audio replay of the conference and a transcript of the prepared remarks will be available on www.morphosys.com.

The half-year report 2020 (IFRS) is available online:

www.morphosys.com/FinancialReports

About Monjuvi® (tafasitamab-cxix)

Monjuvi is a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody. In 2010, MorphoSys licensed exclusive worldwide rights to develop and commercialize tafasitamab from Xencor, Inc. Tafasitamab incorporates an XmAb® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including antibody-dependent cell-mediated cytotoxicity (ADCC) and antibody-dependent cellular phagocytosis (ADCP).

Monjuvi is approved by the U.S. Food and Drug Administration in combination with lenalidomide for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for autologous stem cell transplant (ASCT).    

In January 2020, MorphoSys and Incyte entered into a collaboration and licensing agreement to further develop and commercialize Monjuvi globally. Monjuvi will be co-commercialized by Incyte and MorphoSys in the United States. Incyte has exclusive commercialization rights outside the United States.

A marketing authorization application (MAA) seeking the approval of tafasitamab in combination with lenalidomide in the EU has been validated by the European Medicines Agency (EMA) and is currently under review for the treatment of adult patients with relapsed or refractory DLBCL, including DLBCL arising from low grade lymphoma, who are not candidates for ASCT.

Tafasitamab is being clinically investigated as a therapeutic option in B-cell malignancies in a number of ongoing combination trials.

Monjuvi® is a registered trademark of MorphoSys AG.

XmAb® is a registered trademark of Xencor, Inc.

 

Page 7 of 9


About MorphoSys

MorphoSys is a commercial-stage biopharmaceutical company dedicated to the discovery, development and commercialization of exceptional, innovative therapies for patients suffering from serious diseases. The focus is on cancer. Based on its leading expertise in antibody, protein and peptide technologies, MorphoSys, together with its partners, has developed and contributed to the development of more than 100 product candidates, 27 of which are currently in clinical development. In 2017, Tremfya®, marketed by Janssen for the treatment of plaque psoriasis, became the first drug based on MorphoSys’ antibody technology to receive regulatory approval. Headquartered near Munich, Germany, the MorphoSys group, including the fully owned U.S. subsidiary MorphoSys US Inc., has more than 500 employees. More information at www.morphosys.com

HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT®, arYla®, Ylanthia®, 100 billion high potentials®, Slonomics®, Lanthio Pharma®, LanthioPep®, ENFORCER® and Monjuvi® are trademarks of the MorphoSys Group. Tremfya® is a trademark of Janssen Biotech, Inc. XmAb® is a trademark of Xencor, Inc.

MorphoSys Forward-Looking Statements

This communication contains certain forward-looking statements concerning the MorphoSys group of companies, including the expectations regarding tafasitamab’s ability to treat patients with relapsed or refractory diffuse large B-cell lymphoma, the further clinical development of tafasitamab, including ongoing confirmatory trials, additional interactions with regulatory authorities and expectations regarding future regulatory filings and possible additional approvals for tafasitamab as well as the commercial performance of tafasitamab. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “would,” “could,” “potential,” “possible,” “hope” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve known and unknown risks and uncertainties, which might cause the actual results, financial condition and liquidity, performance or achievements of MorphoSys, or industry results, to be materially different from any historic or future results, financial conditions and liquidity, performance or achievements expressed or implied by such forward-looking statements. In addition, even if MorphoSys’ results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. Among the factors that may result in differences are MorphoSys’ expectations regarding risks and uncertainties related to the impact of the COVID-19 pandemic to MorphoSys’ business, operations, strategy, goals and anticipated milestones, including its ongoing and planned research activities, ability to conduct ongoing and planned clinical trials, clinical supply of current or future drug candidates, commercial supply of current or future approved products, and launching, marketing and selling current or future approved products, the global collaboration and license agreement for tafasitamab, the further clinical development of tafasitamab, including ongoing confirmatory trials, and MorphoSys’ ability to obtain and maintain requisite regulatory approvals and to enroll patients in its planned clinical trials, additional interactions with regulatory authorities and expectations regarding future regulatory filings and possible additional approvals for tafasitamab as well as the commercial performance of tafasitamab, MorphoSys’ reliance on collaborations with third parties, estimating the commercial potential of its development programs and other risks indicated in the risk factors included in MorphoSys’ Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. MorphoSys expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation.

 

Page 8 of 9


For more information, please contact:

MorphoSys

Investor Contacts:

Dr. Anja Pomrehn

Senior Vice President

Tel: +49 (0) 89 / 899 27-26972

Anja.Pomrehn@morphosys.com

Dr. Julia Neugebauer

Director

Tel: +49 (0) 89 / 899 27-179

Julia.Neugebauer@morphosys.com

Media Contacts:

Jeanette Bressi

Director, US Communications

Tel: +1 617-404-7816

media@morphosys.com

Dr. Anca Ammon

Associate Director

Tel: +49 (0) 89 / 899 27-26738

media@morphosys.com

 

Page 9 of 9

EX-99.2

Slide 1

Q2 2020 Results August 6, 2020 Exhibit 99.2


Slide 2

© MorphoSys - Results Q2 2020 This communication contains certain forward-looking statements concerning the MorphoSys group of companies, including its financial guidance for 2020, the commencement, timing and results of clinical trials and release of clinical data both in respect of its proprietary product candidates and of product candidates of its collaborators, the development of commercial capabilities, interpretations by regulatory authorities of our clinical data and real-world data analyses, in particular with respect to tafasitamab (MOR208), and the transition of MorphoSys to a fully integrated biopharmaceutical company, the expected time of launch of tafasitamab (MOR208), interaction with regulators, including the potential approval of MorphoSys’s current or future drug candidates, including discussions with the FDA regarding the potential approval to market tafasitamab (MOR208), and expected royalty and milestone payments in connection with MorphoSys’s collaborations. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve known and unknown risks and uncertainties, which might cause the actual results, financial condition and liquidity, performance or achievements of MorphoSys, or industry results, to be materially different from any historic or future results, financial conditions and liquidity, performance or achievements expressed or implied by such forward-looking statements. In addition, even if MorphoSys’s results, performance, financial condition and liquidity, and the development of the industry in which it operates are consistent with such forward-looking statements, they may not be predictive of results or developments in future periods. Among the factors that may result in differences are that MorphoSys’s expectations regarding its 2020 results of operations may be incorrect, MorphoSys’s expectations regarding its development programs may be incorrect, the inherent uncertainties associated with competitive developments, clinical trial and product development activities and regulatory approval requirements (including that MorphoSys may fail to obtain regulatory approval for tafasitamab (MOR208) and that data from MorphoSys’s ongoing clinical research programs may not support registration or further development of its product candidates due to safety, efficacy or other reasons), MorphoSys’s reliance on collaborations with third parties, estimating the commercial potential of its development programs and other risks indicated in the risk factors included in MorphoSys’s Annual Report on Form 20-F and other filings with the US Securities and Exchange Commission. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. MorphoSys expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation. The compounds discussed in this slide presentation are investigational products being developed by MorphoSys and its partners and are not currently approved by the U.S. Food and Drug Administration (FDA), European Medicines Agency (EMA) or any other regulatory authority (except for tafasitamab/Monjuvi® and guselkumab/Tremfya®). There is no guarantee any investigational product will be approved. Forward-Looking Statements


Slide 3

Agenda © MorphoSys – Results Q2 2020 Q2 2020 Results Conference Call Introduction Anja Pomrehn, Ph.D., Head of Investor Relations Highlights Q2 2020 Jean-Paul Kress, M.D., CEO Financial Results Q2 / H1 2020 Jens Holstein, CFO Summary Jean-Paul Kress, M.D., CEO Q&A Jean-Paul Kress, Jens Holstein, Roland Wandeler, Malte Peters


Slide 4

Highlights Q2 2020 Jean-Paul Kress, M.D., CEO © MorphoSys - Results Q2 2020


Slide 5

© MorphoSys - Results Q2 2020 Monjuvi® (tafasitamab-cxix) approved in the U.S.   1) USPI = U.S. Prescribing Information; ORR: overall response rate; CR: complete response; mDoR: median duration of response; mOS: median overall survival Monjuvi® (tafasitamab-cxix) Approval of Monjuvi® in combination with lenalidomide in the U.S. First FDA approved second-line therapy in r/r DLBCL Durable clinical efficacy and sound safety and tolerability ORR 55%, CR 37%, mDoR 21.7 months1) Important milestone for patients battling this very aggressive disease


Slide 6

© MorphoSys - Results Q2 2020 Operational Highlights Tafasitamab Validation of MAA for tafasitamab by EMA L-MIND long term data presented at EHA is part of MAA Unprecedented durability: mDoR 34.6 months, mOS 31.6 months1) Pipeline progress Felzartamab (MOR202): first patient dosed in the M-PLACE study in autoimmune membranous nephropathy Otilimab: start of study (OSCAR) in patients with severe pulmonary COVID-19 related disease by GSK FDA approval of Tremfya® for PsA   Salles et. al., EHA 2020; ORR: overall response rate; CR: complete response; mDoR: median duration of response; mOS: median overall survival Pipeline products are under clinical investigation and have not been proven to be safe or effective.


Slide 7

© MorphoSys - Results Q2 2020 R&D Update Program Partner Target Disease area Ph 1 Ph 2 Ph 3 Market Tafasitamab Incyte1) CD19 DLBCL (L-MIND) DLBCL (B-MIND) DLBCL (First-MIND) CLL (COSMOS) Felzartamab (MOR202) I-Mab Biopharma2) CD38 Multiple Myeloma Multiple Myeloma - Autoimmune (M-PLACE) Otilimab (MOR103) GSK GM-CSF Rheumatoid arthritis (ContRAst 1-3) Tremfya® Janssen IL-23 p19 Psoriasis Psoriatic Arthritis Gantenerumab Roche Amyloid-b Alzheimers Disease Joint development globally and co-commercialization in the U.S., Incyte has exclusive commercialization rights outside the U.S. For development in China, Hong Kong, Macao, Taiwan Pipeline products are under clinical investigation and have not been proven to be safe or effective. Severe pulmonary COVID-19 related disease (OSCAR) ü ü ü


Slide 8

© MorphoSys - Results Q2 2020 Monjuvi® available in the U.S. as of August 6, 2020 MARKET ACCESS MEDICAL AFFAIRS MARKETING & SALES Certified Field Teams Engaging with HCP Leverage Expertise and Relationships with Incyte Engagement with Government and Commercial Payers Monjuvi® listed within FDA NDC Directory Clinical Dossier Submitted to NCCN Guideline Committee First Vials shipped to Specialty Distributors Strong Positioning of the Monjuvi®/Lenalidomide Combination


Slide 9

Financial Results Q2 and H1 2020 Jens Holstein, CFO © MorphoSys - Results Q2 2020


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© MorphoSys - Results Q2 2020 Q2 2020: Profit and Loss Statement* In € million Q2 2020 Q2 2019 Revenues 18.4 34.7 (47%) Cost of Sales 7.2 (4.9) >100% Research and Development (30.9) (24.7) (25%) Selling (29.3) (3.2) >(100%) General and Administrative (13.8) (7.5) (84%) Total Operating Expenses (66.8) (40.3) (66%) Other Income / (Expenses) (1.7) (0.1) >(100%) EBIT (50.1) (5.7) >(100%) Finance Income 17.5 0.1 >100% Finance Expenses (25.1) (0.4) >(100%) Income from Reversals of Impairment Losses / (Impairment Losses) on Financial Assets (0.3) 0.3 >(100%) Income Tax Benefit / (Expenses) 4.9 (0.1) >100% Consolidated Net Loss (53.1) (5.9) >(100%) Earnings per Share, basic and diluted (in €) (1.62) (0.19) >(100%) * Differences due to rounding


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© MorphoSys - Results Q2 2020 Q2 2020: Segment Reporting* Proprietary Development Partnered Discovery In € million In € million Revenues OpEx EBIT Revenues OpEx EBIT 2019 2020 * Differences due to rounding


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© MorphoSys - Results Q2 2020 H1 2020: Key Financials* In € million H1 2020 H1 2019 Change Revenues 269.7 48.2 >100% Cost of Sales 4.0 (9.9) >100% Research and Development (52.4) (49.3) (6%) Selling (42.1) (4.9) >(100%) General and Administrative (23.9) (13.4) (78%) Total Operating Expenses (114.5) (77.5) (48%) EBIT 163.5 (29.3) >100% Consolidated Net Profit / (Loss) 179.8 (28.5) >100% Earnings per Share, basic and diluted (in EUR) - (0.90) n/a Earnings per share, basic 5.56 - n/a Earnings per share, diluted 5.54 - n/a * Differences due to rounding


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* Differences due to rounding © MorphoSys - Results Q2 2020 Balance Sheet June 30, 2020* In € million June 30, 2020 Dec 31, 2019 Assets Cash and Cash Equivalents** 33.4 44.3 Financial Assets at Fair Value through Profit or Loss** 393.9 20.5 Other Financial Assets at Amortized Cost** 387.5 207.7 Accounts Receivable and Contract Assets 33.1 15.1 Financial Assets from Collaborations 45.3 0 Other Current Assets 34.7 16.1 Total Current Assets 927.9 303.7 Other Financial Assets at Amortized Cost, Net of Current Portion** 247.1 84.9 Other Non-current Assets 249.1 107.8 Total Non-current Assets 496.2 192.7 Total Assets 1,424.1 496.4 Liabilities & Stockholders’ Equity Total Current Liabilities 171.6 61.6 Total Non-current Liabilities 596.0 40.2 Total Stockholders’ Equity 656.5 394.7 Total Liabilities & Stockholders’ Equity 1,424.1 496.4 **On March 31, 2020 MorphoSys’ liquidity position amounted to Euros 1.06 billion (reported under “cash and cash equivalents”; “financial assets at fair value through profit or loss” and current and non-current “other financial assets at amortized cost”.


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* Revenues do not include potential sales of tafasitamab. Revenues are expected to include royalty income from Tremfya® ranging from EUR 37 to 42 million on constant US-$ currency. © MorphoSys - Results Q2 2020 Financial Guidance FY 2020 In € million Reported FY 2019 Reported H1 2020 Guidance FY2020 71.8 269.7 280 to 290 108.4 52.4 130 to 140 -107.9 163.5 -15 to +5 Group Revenues* Total R&D Expenses EBIT Total ordinary shares issued as of June 30, 2020: 32,890,046 Germany, Frankfurt Stock Exchange: MOR; U.S., NASDAQ Global Market: MOR Cash Position June 30, 2020: €1,061.8 m


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Summary Jean-Paul Kress, M.D., CEO © MorphoSys - Results Q2 2020


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© MorphoSys - Results Q2 2020 Summary Major milestone achievement with FDA approval of Monjuvi® Monjuvi® already available in the U.S. as of today Unlock tafasitamab‘s full potential and focus on proprietary pipeline Well on track towards our FY 2020 guidance


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© MorphoSys - Results Q2 2020 Q & A


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