PRESS RELEASE : MorphoSys AG Presents Results for -2-

from EUR 36.7 million in 2019 to EUR 51.4 million in 2020. Increases for both categories reflect higher expenses for 
personnel and external services. 
Earnings before interest and taxes (EBIT) amounted to EUR 27.4 million (2019: EUR -107.9 million). The Proprietary 
Development segment reported an EBIT of EUR 22.9 million (2019: EUR -109.1 million). EBIT in the Partnered Discovery 
segment was EUR 37.4 million (2019: EUR 26.8 million). In 2020, a consolidated net profit was generated of EUR 97.9 million 
(2019: EUR -103.0 million). In 2020 the earnings per share basic was EUR 3.01 and the earnings per share diluted was EUR 
2.97. In 2019 the earnings per share, basic and diluted was EUR -3.26. 
At year-end 2020, the Company had a liquidity^1 position of EUR 1,244.0 million compared to EUR 357.4 million at the end of 
2019. 
The number of shares issued totaled 32,890,046 at year-end 2020 (year-end 2019: 31,957,958). 
Financial Guidance and Operational Outlook for 2021 
For 2021, MorphoSys expects to generate Group revenues in the range of EUR 150 to EUR 200 million. This forecast includes 
the recently announced EUR 16 million milestone payments from GSK, but excludes other potential significant milestones 
from development partners and/or licensing partnerships. The range also captures the potential for variability from the 
first full year of the Monjuvi product launch and the impact from the COVID-19 pandemic which is anticipated to be 
greater in the first half 2021. 
Operating expenses, inclusive of Incyte's share of Monjuvi selling expenses, are anticipated to be in the range of EUR 
355 to EUR 385 million with R&D expenses expected to represent 45-50% of this amount. The R&D expenses represent our 
continuing investment in the development of tafasitamab, felzartamab, early-stage development programs, and further 
development of our technologies. 
For its proprietary projects, MorphoSys expects the following events and activities in 2021: 
Tafasitamab 
  . Continue the phase 1b trial of tafasitamab in previously untreated DLBCL (firstMIND); 
  . Initiate a pivotal phase 3 trial of tafasitamab in previously untreated DLBCL (frontMIND); 
  . Initiate a pivotal phase 3 trial (inMIND) of tafasitamab in patients with indolent lymphoma (r/r FL/MZL); 
  . Investigate tafasitamab, plamotamab and lenalidomide in patients with relapsed or refractory DLBCL, first-line 
    DLBCL and relapsed or refractory follicular lymphoma (r/r FL) jointly with Incyte and Xencor; 
  . Continue the L-MIND study of tafasitamab and evaluate the long-term efficacy and safety data; 
  . Continue the phase 3 trial (B-MIND) of tafasitamab in combination with bendamustine for r/r DLBCL; 
  . Continue the phase 2 COSMOS study with tafasitamab in CLL/SLL in combination with idelalisib and venetoclax; 
  . Collaborate with Incyte for the initiated regulatory submissions to the EMA, support Incyte for regulatory 
    submissions to Swissmedic and Health Canada for tafasitamab in combination with lenalidomide for r/r DLBCL; and 
  . Support Incyte in submitting marketing authorization applications in other markets. 
Felzartamab (MOR202) 
  . Continue the clinical development of felzartamab (MOR202) in autoimmune membranous nephropathy and generate data 
    from the phase 1/2 trial M-PLACE (proof-of-concept); 
  . Continue treatment schedule finding study (New-PLACE) in autoimmune membranous nephropathy; and 
  . Support partner I-Mab in its regulatory filing (BLA) for felzartamab (MOR202/TJ202) for multiple myeloma in China. 
For projects that are developed by partners, MorphoSys expects the following events in 2021: 
  . Otilimab: Publication of results of the OSCAR study using otilimab for the treatment of severe pulmonary COVID-19 
    related disease by partner GSK (preliminary results published in February 2021). 
MorphoSys Group Key Figures (IFRS, end of financial year: December 31, 2020) 
in EUR million                                                2020    2019  Change Q4 2020 Q4 2019  Change 
 
 
Revenues                                                   327.7    71.8   >100%    36.0    11.1   >100% 
Total operating expenses                                 (309.7) (179.9)   (72%) (111.2)  (62.0)   (79)% 
Cost of sales                                              (9.2)  (12.1)     24%   (9.4)   (1.2) >(100)% 
R&D expenses                                             (141.4) (108.4)   (30%)  (54.8)  (33.2)   (65%) 
Selling expenses                                         (107.7)  (22.7) >(100%)  (32.8)  (13.3) >(100%) 
G&A expenses                                              (51.4)  (36.7)   (40%)  (14.2)  (14.3)      1% 
Other income/expense                                         9.4     0.2   >100%     0.7   (0.6)   >100% 
EBIT                                                        27.4 (107.9)   >100%  (74.5)  (51.6)   (44%) 
Consolidated net (loss) / profit                            97.9 (103.0)   >100%  (16.5)  (50.3)     67% 
Earnings per Share, basic and diluted (in EUR)                   -  (3.26)       -   (0.5)  (1.59)   >100% 
Earnings per Share, basic (in EUR)                            3.01       -       -       -       -       - 
Earnings per Share, diluted (in EUR)                          2.97       -       -       -       -       - 
Liquidity position (end of period)                       1,244.0   357.4   >100% 1,244.0   357.4   >100% 
Equity ratio (end of period) (in %)                           37      80 (42PP*)      37      80 (42PP*) 
No. of R&D programs (end of period)                          116     117    (1%)     116     117    (1%) 
No. of clinical programs (end of period)^**                   28      29    (3%)      28      29    (3%) 
No. of proprietary clinical programs (end of period)^***       3       5   (40%)       3       5   (40%) 
No. of products on the market (end of period)**                2       1    100%       2       1    100% 
 

* Percentage point ** Tremfya and Monjuvi are still considered as clinical programs due to ongoing studies in various indications and/or treatment lines *** Including otilimab (MOR103/GSK3196165), which is fully out-licensed to GSK MorphoSys will hold its conference call and webcast tomorrow, March 16, 2021, to present the full year 2020 results and the outlook for 2021.

Dial-in number for the conference call (in English) at 2:00pm CET; 1:00pm GMT; 9:00am EDT: Germany: [phone] For UK residents: [phone] For US residents: [phone] (all numbers reachable from any geography) Participant PIN: 38386816# Please dial in 10 minutes before the beginning of the conference.

A live webcast and slides will be made available at http://www.morphosys.com.

Approximately two hours after the call, a slide-synchronized audio replay of the conference and a transcript will be available at http://www.morphosys.com.

Consolidated Financial Statements 2020 (IFRS) are available for download at: http://www.morphosys.com/FinancialReports About Monjuvi^(R) (tafasitamab-cxix) Monjuvi is a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody. In 2010, MorphoSys licensed exclusive worldwide rights to develop and commercialize tafasitamab from Xencor, Inc. Tafasitamab incorporates an XmAb^(R) engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including antibody-dependent cell-mediated cytotoxicity (ADCC) and antibody-dependent cellular phagocytosis (ADCP).

Monjuvi is approved by the U.S. Food and Drug Administration in combination with lenalidomide for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) not otherwise specified, including DLBCL arising from low grade lymphoma, and who are not eligible for autologous stem cell transplant (ASCT).

In January 2020, MorphoSys and Incyte entered into a collaboration and licensing agreement to further develop and commercialize Monjuvi globally. Monjuvi will be co-commercialized by Incyte and MorphoSys in the United States. Incyte has exclusive commercialization rights outside the United States.

A marketing authorization application (MAA) seeking the approval of tafasitamab in combination with lenalidomide in the EU has been validated by the European Medicines Agency (EMA) and is currently under review for the treatment of adult patients with relapsed or refractory DLBCL, including DLBCL arising from low grade lymphoma, who are not candidates for ASCT.

Monjuvi^(R) is a registered trademark of MorphoSys AG. XmAb^(R) is a registered trademark of Xencor, Inc. Tremfya^(R) is a registered trademark of Janssen Biotech, Inc.

About MorphoSys MorphoSys is a commercial-stage biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies for patients suffering from cancer and autoimmune diseases. Based on its leading expertise in antibody, protein and peptide technologies, MorphoSys, together with its partners, has developed and contributed to the development of more than 100 product candidates, of which more than 25 are currently in clinical development. In 2017, Tremfya^(R), developed by Janssen Research & Development, LLC and marketed by Janssen Biotech, Inc., for the treatment of plaque psoriasis, became the first drug based on MorphoSys' antibody technology to receive regulatory approval. In July 2020, the U.S. Food and Drug Administration (FDA) granted accelerated approval of the company's proprietary product Monjuvi^(R) (tafasitamab-cxix) in combination with lenalidomide in patients with a certain type of lymphoma.

Headquartered near Munich, Germany, the MorphoSys group, including the fully owned U.S. subsidiary MorphoSys US Inc., has more than 600 employees. More information at www.morphosys.com or www.morphosys-us.com.

(MORE TO FOLLOW) Dow Jones Newswires

March 15, 2021 17:05 ET (21:05 GMT)