MorphoSys AG — Earnings Release 2002

May 13, 2002

News Details

Ad-hoc | 13 May 2002 07:30

MorphoSys AG english

MorphoSys Reports First Quarter 2002 Results Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MorphoSys AG (Neuer Markt: MOR) today reported financial results for the three months ended March 31, 2002. During the period, MorphoSys generated revenues of EUR 4.1 million compared to EUR 2.8 million in the same period of the previous year, an increase of 47%. Total operating expenses including stock based compensation for Q1 2002 amounted to EUR 7.3 million, compared to EUR 5.0 million in the same period of 2001. Contributing to the higher expenses were increases in Research and Development of EUR 1.4 million to EUR 3.6 million, Sales, General & Administrative expenses of EUR 0.7 million to EUR 2.6 million, and Stock-based Compensation of EUR 0.2 million to EUR 1.1 million. Amortization of intangibles and depreciation amounted to EUR 1.6 million, and EUR 0.2 million, respectively for the first quarter 2002. Non-operating income for the period amounted to EUR 0.2 million (2001: EUR 0.2 million). For the first three months of 2002, the Company posted a net loss of EUR 3.1 million compared to EUR 2.0 million in the same period of the previous year. EBITDA for the first quarter amounted to EUR (1.5) million, compared to EUR (1.6) million in the comparable period of 2001. The resulting loss per share for the first three months 2002 amounted to EUR 0.80 (Q1 2001: EUR 0.57). On March 31, 2002 the Company had EUR 35.2 million in cash, cash equivalents and marketable securities, compared to a EUR 12.1 million balance at December 31, 2002. The number of outstanding shares at March 31, 2002 was 3,889,449 shares, compared to 3,531,569 shares at December 31, 2001. end of ad-hoc-announcement (c)DGAP 13.05.2002 ——————————————————————————– WKN: 663200; ISIN: DE0006632003; Index: Nemax 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 130730 Mai 02