DGAP-News: MorphoSys AG / Key word(s): Annual Results 
MorphoSys AG Presents Results for Full Year 2020 
2021-03-15 / 22:03 
The issuer is solely responsible for the content of this announcement. 
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Media Release 
Planegg/Munich, Germany, March 15, 2021 
MorphoSys AG Presents Results for Full Year 2020 
Conference call and webcast (in English) tomorrow, March 16, 2021 at 2:00pm CET 
(1:00pm GMT/9:00am EDT) 
MorphoSys AG (FSE: MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ: MOR) reports results for the year ended December 
31, 2020 and provides a financial and operational outlook for 2021. 
 
Financial Highlights for Full Year 2020 
  . The Company achieved revenues of EUR 327.7 million (2019: EUR 71.8 million) and EBIT of EUR 27.4 million (2019: EUR -107.9 
    million). 
  . Monjuvi^(R) (tafasitamab-cxix) product sales totaling EUR 18.5 million (USUSD 22 million) since launch in the U.S. in 
    August 2020. 
  . Royalties on net sales of Tremfya amounted to EUR 42.5 million (2019: EUR 31.8 million). 
  . Liquidity position of EUR 1,244.0 million^[1] at year-end 2020 (2019: EUR 357.4 million). 
Corporate and Program Updates 
Monjuvi (tafasitamab-cxix): 
  . Revenues from Monjuvi product sales of EUR 14.1 million (USUSD 17 million) for Q4. 
  . >400 accounts have ordered Monjuvi by end of 2020. 
  . Share of Voice consistently reaching approximately 50%. 
Tafasitamab: 
  . Preliminary data from the firstMIND study in previously untreated DLBCL patients were presented at the 62^nd 
    American Society of Hematology Annual Meeting (ASH) in December 2020; data support the start of the pivotal study 
    in the first half of 2021. 
  . Long-term data of the L-MIND study in patients with relapsed or refractory DLBCL, who are not eligible for 
    autologous stem cell transplantation, after a follow-up of two years confirming previously reported results. 
    Tafasitamab in combination with lenalidomide resulted in long-lasting remissions. At the time of analysis, patients 
    continued to experience long median duration of response (mDoR) of 34.6 months and median overall survival (mOS) of 
    31.6 months. 
  . Clinical collaboration between MorphoSys, Incyte and Xencor to investigate the combination of tafasitamab, 
    lenalidomide and plamotamab in patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), 
    first-line DLBCL, and relapsed or refractory follicular lymphoma (FL) in November 2020. 
  . The European Marketing Authorization Application (MAA), seeking approval of tafasitamab^in combination with 
    lenalidomide, followed by tafasitamab^monotherapy, for the treatment of adult patients with r/r DLBCL was validated 
    in May 2020 and is currently under review. 
Felzartamab (MOR202): 
  . M-PLACE study in autoimmune membranous nephropathy ongoing: safety run-in phase completed and the full enrollment 
    phase opened. 
Tremfya^(R) (guselkumab): 
  . The European Commission approved in December 2020 the use of Tremfya in the treatment of adult patients with active 
    psoriatic arthritis (PsA) who have had an inadequate response or who have been intolerant to a prior 
    disease-modifying antirheumatic drug (DMARD) therapy. 
Corporate Developments: 
  . MorphoSys successfully placed unsubordinated, unsecured convertible bonds due 2025 in an aggregate principal amount 
    of EUR 325 million in October 2020. The bonds will be convertible into new and/or existing no-par value ordinary 
    bearer shares of MorphoSys. 
  . MorphoSys and Cherry Biolabs entered into a licensing agreement in November 2020 granting MorphoSys the rights to 
    apply Cherry Biolabs' innovative, multispecific Hemibody technology to six exclusive targets. 
Signifcant Events After The Reporting Year: 
  . On January 5, 2021, MorphoSys and Incyte announced that the Swiss Agency for Therapeutic Products (Swissmedic) had 
    accepted the marketing authorization application (MAA) for tafasitamab. The MAA seeks approval for tafasitamab, in 
    combination with lenalidomide, followed by tafasitamab monotherapy, for the treatment of adult patients with 
    relapsed or refractory diffuse large B-cell lymphoma (DLBCL), including DLBCL arising from low grade lymphoma, who 
    are not candidates for autologous stem cell transplantation (ASCT). The MAA will now enter the formal review 
    process by Swissmedic. 
  . On January 6, 2021, MorphoSys announced the appointment of Sung Lee as Chief Financial Officer, effective February 
    2, 2021. Mr. Lee succeeds Jens Holstein, who stepped down in December 2020, and will lead all corporate finance 
    functions as a member of the Management Board of MorphoSys AG. He will be based in Planegg, Germany. 
  . On January 12, 2021, MorphoSys and Incyte announced that the Health Canada had accepted the New Drug Submission 
    (NDS) for tafasitamab. The application seeks approval of tafasitamab in combination with lenalidomide, followed by 
    tafasitamab monotherapy, for the treatment of adult patients with relapsed or refractory DLBCL, including DLBCL 
    arising from low grade lymphoma, who are not eligible for, or refuse, ASCT. 
  . On January 25, 2021, MorphoSys and I-Mab announced that the first patient had been dosed in a phase 1 dose 
    escalation study to evaluate the safety, tolerability, pharmacokinetics (PK) and pharmacodynamics (PD) of MOR210/ 
    TJ210 monotherapy in patients with relapsed or refractory advanced solid tumors in the United States. 
  . In February 2021, the first patient with autoimmune membranous nephropathy was dosed with felzartamab in the 
    New-PLACE study, a phase 2 study evaluating different treatment schedules to identify the regimen for the pivotal 
    study. 
  . On March 2, 2021, we announced that our partner GSK reported preliminary results of the OSCAR study using otilimab 
    for the treatment of severe pulmonary COVID-19 related disease. Given these data suggest an important clinical 
    benefit in a pre-defined sub-group of high-risk patients and the urgent public health need, GSK has amended the 
    OSCAR study to expand this cohort to confirm these potentially significant findings. The dosing of the first 
    patient in the expanded study triggered milestone payments of EUR 16 million to MorphoSys. 
"2020 was a transformational year for MorphoSys. Despite the challenges brought on by the global pandemic, we delivered 
one of the most successful years as a company. The accelerated FDA approval of Monjuvi was an important milestone in 
our transformation into an integrated commercial-stage biopharma company," said Jean-Paul Kress, M.D., Chief Executive 
Officer of MorphoSys. "We believe tafasitamab has the potential to transform the standard of care and could be a 
potential backbone in DLBCL, along with being a combination partner of choice in other hematological malignancies. 
Beyond tafasitamab, we were also able to progress felzartamab, which is being developed in autoimmune membranous 
nephropathy, an autoimmune disease affecting the kidney. In 2021, the focus will be on executing on our ambitious 
goals: continuing to drive the launch of Monjuvi and provide access to patients with DLBCL, advance tafasitamab in 
potential first line setting and other non-Hodgkin's lymphoma indications, further develop felzartamab, and expand our 
pipeline. With our strong balance sheet and a liquidity position of more than EUR 1.2 billion, we are well positioned to 
execute on our growth strategy." 
 
Financial Review for the Full Year 2020 (IFRS) 
In 2020, MorphoSys continued to focus on applying its proprietary technology and expertise to the research and 
development of innovative drug candidates. Group revenues for 2020 increased to EUR 327.7 million (2019: EUR 71.8 million). 
Revenues for 2020 include EUR 255.8 million stemming from the collaboration and license agreement with Incyte, royalties 
of EUR 42.5 million (2019: EUR 31.8 million) on net sales of Tremfya as well as revenues from Monjuvi product sales 
totaling EUR 18.5 million (USUSD 22 million) since launch in August 2020. 
In the Proprietary Development segment, MorphoSys focuses on research and clinical development of its own drug 
candidates in the fields of cancer and inflammation. In 2020, this segment recorded revenues of EUR 278.6 million (2019: 
EUR 34.3 million). This increase was mainly due to revenues in the amount of EUR 255.8 million from the collaboration and 
license agreement with Incyte as well as revenues from Monjuvi product sales of EUR 18.5 million (USUSD 22 million). 
In the Partnered Discovery segment, MorphoSys applies its proprietary technology to discover new drug candidates for 
pharmaceutical companies, benefiting from its partners' development advancements through R&D funding, licensing fees, 
success-based milestone payments and royalties. Revenues in the Partnered Discovery segment increased from EUR 37.5 
million in 2019 to EUR 49.1 million in 2020. This increase included primarily performance-based payments of EUR 46.4 
million in 2020 and EUR 33.2 million in the previous year. The performance-based payments were mainly related to 
royalties from Janssen for net sales with Tremfya of EUR 42.5 million in 2020 and of EUR 31.8 million in 2019. 
In 2020, cost of sales decreased to EUR 9.2 million (2019: EUR 12.1 million). 
Total operating expenses in 2020 increased to EUR 309.7 million from EUR 179.9 million in 2019, driven by an increase of 
research and development expenses, selling expenses and general and administrative expenses. 
In 2020, research and development expenses amounted to EUR 141.4 million, as compared to EUR 108.4 million in 2019. Growth 
over 2019 reflects primarily the increased investment to support the advancement of proprietary programs and impairment 
charges taken against legacy deals. 
Selling expenses increased to EUR 107.7 million (2019: EUR 22.7 million) and general and administrative expenses increased

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