Equities

MORF

US61775R1059

Delayed Nasdaq Other stock markets 04:00:00 2024-08-15 pm EDT			5-day change	1st Jan Change
56.99 ^USD	+0.04%		-.--%	+97.33%

Aug. 16	Eli Lilly Wraps Up Purchase of Biopharma Group Morphic	MT
Aug. 16	Eli Lilly Completes $3.2 Billion Acquisition of Morphic Holding	MT

Morphic Holding Shares Take Flight on Acquisition by Eli Lilly

July 08, 2024 at 10:16 am EDT

By Colin Kellaher

Morphic Holding shares surged 75% in early trading Monday after the biopharmaceutical company agreed to be acquired by drugmaker Eli Lilly for $3.2 billion in cash.

Eli Lilly is paying $57 a share for Morphic, a 79% premium to Friday's closing price of $31.84 for the Waltham, Mass., company, which is developing therapies targeting the inflammatory bowel diseases ulcerative colitis and Crohn's disease.

Morphic shares were recently changing hands at $55.68, up 75%.

The stock hit a 52-week high of $62.08 last August, but an update from Morphic the following month on a Phase 2a study of its lead program MORF-057 in ulcerative colitis triggered a steep selloff.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

07-08-24 1015ET

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	ELI LILLY AND COMPANY	830.36USD	+0.57%	+4.12%	743B
	MORC HOLD	56.99USD	+0.04%	-.--%	2.86B

Latest news about MORC HOLD

Eli Lilly Wraps Up Purchase of Biopharma Group Morphic	Aug. 16	MT
Eli Lilly Completes $3.2 Billion Acquisition of Morphic Holding	Aug. 16	MT
Eli Lilly Completes $3.2 Billion Morphic Holding Acquisition	Aug. 16	MT
Morphic Holding, Inc.(NasdaqGM:MORF) dropped from NASDAQ Composite Index	Aug. 15	CI
Eli Lilly and Company completed the acquisition of Morphic Holding, Inc. from TAS Partners, LLC, Timothy Springer, Chafen Lu and others.	Aug. 15	CI
Morphic Holding, Inc.(NasdaqGM:MORF) dropped from S&P Global BMI Index	Aug. 15	CI
Morphic Holding, Inc.(NasdaqGM:MORF) dropped from S&P Biotechnology Select Industry Index	Aug. 15	CI
Morphic Holding, Inc.(NasdaqGM:MORF) dropped from S&P TMI Index	Aug. 15	CI
Morphic Holding, Inc.(NasdaqGM:MORF) dropped from NASDAQ Biotechnology Index	Aug. 14	CI
Jefferies Downgrades Morphic Holding to Hold From Buy, Price Target is $57	Jul. 15	MT
Morphic Holding Insider Sold Shares Worth $1,689,178, According to a Recent SEC Filing	Jul. 10	MT
Morphic Holding Insider Sold Shares Worth $1,204,075, According to a Recent SEC Filing	Jul. 10	MT
Mixed feelings	Jul. 09
BMO Capital Downgrades Morphic Holding to Market Perform From Outperform, Raises Price Target to $57 From $52	Jul. 09	MT
Canaccord Genuity Downgrades Morphic Holding to Hold From Buy, Cuts Price Target to $57 From $66	Jul. 09	MT
TD Cowen Downgrades Morphic Holding to Hold From Buy	Jul. 09	MT
RBC Downgrades Morphic Holding to Sector Perform From Outperform, Removes Speculative Risk, Cuts Price Target to $57 From $70 Amid Lilly Deal	Jul. 09	MT
S&P 500, Nasdaq Extend Record Closing Runs	Jul. 08	MT
S&P 500, Nasdaq Extend Record High Closing Runs	Jul. 08	MT
US Equities Markets End Mixed as Investors Await Inflation Data	Jul. 08	MT
Sector Update: Health Care Stocks Softer Late Afternoon	Jul. 08	MT
Sector Update: Health Care Stocks Mixed in Afternoon Trading	Jul. 08	MT
Sector Update: Health Care	Jul. 08	MT
Equities Mixed Intraday as Markets Parse Inflation Survey	Jul. 08	MT
Top Midday Gainers	Jul. 08	MT

Chart MORC HOLD

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MORF: Dynamic Chart

Company Profile

Morphic Holding, Inc. is a biopharmaceutical company. The Company is engaged in discovering and developing a pipeline of potentially oral small molecule integrin therapeutics for the treatment of serious chronic diseases, including autoimmune, cardiovascular and metabolic diseases, fibrosis and cancer. The Companyâs Morphic integrin technology platform (MInT Platform) helps to develop product candidates designed to achieve the potency, high selectivity and pharmaceutical properties required for oral administration. The Company is advancing its pipeline, including its lead product candidate, MORF-057, an orally administered a4b7-specific integrin inhibitor affecting inflammation, into clinical development for the treatment of inflammatory bowel disease (IBD). It has also developed avb6-specific integrin inhibitors for the treatment of fibrotic diseases including idiopathic pulmonary fibrosis (IPF) and additional indications.

Employees

128

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