MorphoSys: Positive Pelabresib Data Finally Unlocking Upside

Jan. 18, 2024 9:35 AM ETMorphoSys AG (MOR) StockMOR5 Comments

Summary

  • Shares of biotech company MorphoSys have been climbing due to the approval chances of its lead candidate, pelabresib, for the treatment of myelofibrosis.
  • MorphoSys co-markets and sells the drug Monjuvi in the US, which is used to treat adult patients with relapsed or refractory diffuse large B-cell lymphoma.
  • Despite some mixed data and intense competition, analysts believe pelabresib could reach peak annual sales of over $1.5 billion, which would significantly increase MorphoSys' valuation and share price.
  • The Munich based biotech took a substantial risk to acquire Constellation Pharma, developer of Pelabresib, in a $1.7bn deal. After a torrid bear run on the stock, MorphoSys may finally be ready to deliver upside in 2024.
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Investment Overview

Shares in the Munich, Germany headquartered biotech company MorphoSys (MOR) have been climbing rapidly ever since a late November market sell-off had dropped the price of the company's ADR stock, which trades on the Nasdaq, to a value of ~$4

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This article was written by

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Edmund Ingham is a biotech consultant. He has been covering biotech, healthcare, and pharma for over 5 years, and has put together detailed reports of over 1,000 companies. He leads the investing group Haggerston BioHealth.

The group is for both novice and experienced biotech investors. It provides catalysts to look out for and buy and sell ratings. It also provides product sales and forecasts for all the Big Pharmas, forecasting, integrated financial statements, discounted cash flow analysis and market by market analysis. Learn more.

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