- (PLX AI) - MorphoSys AG reports non-cash impairment charge of € 231 million on goodwill after consolidation of research and discovery functions; corresponding increase of Group operating expenses in 2021.
- • This write-down results from the consolidation of the Company's research and discovery activities after the acquisition of Constellation Pharmaceuticals
- • MorphoSys decided to focus its research activities on the most advanced programs and to centralize all laboratory activities at its German research hub in Planegg, Germany
- • All US-based activities relating to discovery biology and drug discovery departments were discontinued
- • Early pipeline projects cannot be realized anymore and the expected cash flows from these projects will not materialize accordingly
© 2022 PLX AI
