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MorphoSys' Q2 Revenue Grows 42 Percent Though Profit Turns to Loss

NEW YORK (GenomeWeb News) – MorphoSys today reported a net loss for the second quarter although revenue grew 47 percent.
Receipts for the three months ended June 30 increased to $11.7 million from $7.9 million year over year.
R&D costs increased 24 percent to $4 million from $3 million from the comparable quarter a year ago.
MorphoSys reported a net loss of 400,000 for the quarter, compared to a net profit of $1.3 million during the comparable period last year.
As reported yesterday in GenomeWeb News, MorphoSys raised its revenue guidance for 2006 to $52 million from $50 million.
MorphoSys's said it had around $1.6 million in cash and cash equivalents as of June 30.

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