Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Technology
Vandana Singh

MorphoSys Discontinues US Discovery Activities, Takes €231M Impairment Charge

MOR (Organization) MorphoSys United States Germany
  • MorphoSys AG (NASDAQ:MOR) has reported a non-cash impairment charge of €231 million on goodwill after consolidating research and discovery functions.
  • This write-down results from the consolidation of the Company's research and discovery activities after the acquisition of Constellation Pharmaceuticals.
  • MorphoSys decided to focus its research activities on the most advanced programs and centralize all laboratory activities at its German research hub in Planegg, Germany.
  • Read Next: MorphoSys Presents Early Felzartamab Data From Autoimmune Kidney Disease Trial.
  • All US-based activities relating to discovery biology and drug discovery departments were discontinued.
  • Early pipeline projects cannot be realized anymore, and the expected cash flows from these projects will not materialize accordingly.
  • Price Action: MOR shares are down 0.93% at $6.42 during the market session on the last check Thursday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Ariana Grande's 'New Accent' Just Dropped - But Is That Even Ariana, or Is It AI?
Ariana Grande's 'new accent' goes viral as fans debate whether her voice change comes from her Wicked role or possible AI voice manipulation.
International Business Times UK
International Business Times UK
Tracy Morgan Shares Surprising Take On Starring In Multiple Sitcoms At Once: 'I'm Iron Man'
A star through and through.
Cinemablend
Cinemablend
Space exploration in the backyard, on a budget – how NASA simulates conditions in space without blasting off
You may have heard about the extensive testing facilities for spacecraft and equipment, but how do scientists prepare for the human aspect of space exploration?
Space
Space
Aspiration to own a ‘forever’ home is ‘losing relevance for younger generations’
Nearly a quarter of homeowners aged 34 and under view homes as financial assets to be leveraged at the right time, according to a survey for Zoopla.
The Independent UK
The Independent UK
Denise Richards Channels Iconic Adult Magazine Past In Bunny Pics Amid Messy Divorce Filings
The 54-year-old first appeared in America’s most famous adult magazine two decades ago.
Bored Panda
Bored Panda
7 Ways To Lower Expenses in Retirement While Still Living a Luxurious Lifestyle
One of the greatest stressors in life is not having enough money. In fact, an Allianz Life survey found that 64% of Americans are more worried about running out of money than death.While part of this...
GOBankingRates
GOBankingRates
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play