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MorphoSys AG Reports Strong Results for the First Nine Months of 2008 -- Full Year Profit Guidance Increased
MARTINSRIED, Germany, Oct. 30, 2008 (GLOBE NEWSWIRE) -- MorphoSys AG (Frankfurt:MOR) (Prime Standard Segment; TecDAX) today announced its financial results for the nine months ending September 30, 2008. MorphoSys reports according to International Financial Reporting Standards (IFRS). Group revenues increased by 21% to EUR 53.3 million (first nine months 2007: EUR 44.1 million) and operating profit more than doubled to EUR 15.1 million (first nine months 2007: EUR 6.9 million). Net profit amounted to EUR 11.8 million (first nine months 2007: EUR 4.9 million), and MorphoSys's cash position at September 30, 2008 was EUR 127.3 million (December 31, 2007: EUR 106.9 million). The Company increased its Group operating profit guidance to a range of EUR 15 million to EUR 16 million (previously EUR 9 million to EUR 11 million).