PLANEGG/MUNICH (dpa-AFX) - The biotech company Morphosys is targeting sales growth with its important drug Monjuvi for 2024 only in the best-case scenario. According to Tuesday, the SDax company aims to generate the equivalent of 80 to 95 million US dollars with the cancer drug this year. The potential growth could come from additional areas of application for Monjuvi, Morphosys in Planegg near Munich announced on Tuesday. According to preliminary calculations, the funds had flushed 92 million dollars (approx. 85 million euros) into the Bavarian company's coffers in 2023. Morphosys thus met its targets, which the Management Board had raised due to a good run in October.

However, Monjuvi's gross margin of 69 percent last year was significantly worse than the last target. According to the press release, Morphosys justified this with a one-off write-down on inventories.

For investors on the stock market, Monjuvi has now faded into the background; all eyes are now on the cancer drug Pelabresib, which is possibly about to be launched on the market. Following a breakthrough in a study, the Bavarians want to apply for approval in the USA and Europe in mid-2024. This is costly: the Group expects operating expenses in the region of 350 to 380 million euros and a liquidity requirement of around 250 million euros this year./tav/stk