MorphoSys AG — Earnings Release 2003

May 7, 2003

News Details

Ad-hoc | 7 May 2003 07:30

MorphoSys AG english

MorphoSys Posts First Quarter Results for 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MorphoSys Posts First Quarter Results for 2003: Net Loss Reduced by 42% MorphoSys AG (Prime Standard, Germany: MOR) today reported financial results for its first quarter ended March 31, 2003. In the first quarter of 2003, Company revenues amounted to EUR 3.7 million compared to EUR 4.1 million in the same quarter of 2002. Total operating expenses including stock based compensation for the first three months of 2003 amounted to EUR 5.5 million, compared to EUR 7.3 million in the same period of 2002. Research and Development costs decreased by 25% to EUR 2.7 million from EUR 3.6 million, Sales, General & Administrative expenses decreased by 15% from EUR 2.6 million to EUR 2.2 million, and Stock-based Compensation decreased by 55% from EUR 1.1 million to EUR 0.5 million. Amortization of intangibles and depreciation amounted to EUR 0.3 million, and EUR 1.6 million, respectively for the first three months of 2003. For the first three months of 2003, the Company posted a net loss of EUR 1.8 million compared to EUR 3.1 million in the same period of the previous year, a decrease over the prior year of 42%. The resulting loss per share for the first three months of 2003 amounted to EUR 0.46 (Three months 2002: EUR 0.80). On March 31, 2003 the Company had EUR 21.3 million in cash, cash equivalents and marketable securities, compared to a EUR 19.1 million balance at December 31, 2002. The number of outstanding shares at March 31, 2003 was 3,889,944 shares, unchanged compared to December 31, 2002. end of ad-hoc-announcement (c)DGAP 07.05.2003 ——————————————————————————– WKN: 663200; ISIN: DE0006632003; Index: Nemax 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 070730 Mai 03