Morphosys AG (NASDAQ:MOR) is up 4% premarket on light volume on the heels of the launch of licensee GlaxoSmithKline’s late-stage program for rheumatoid arthritis med otilimab.
The dosing of the first patient will trigger a €22M milestone payment from GSK. As a result, MOR is boosting its 2019 guidance for revenue to €65M – 72 from €43M – 50M and EBIT loss of (€105M – 115M) from (€127M – 137M). All other guidance remains as is.
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