The company’s operating profit tripled to E4.1 million in the first quarter of 2008 compared to the E1.3 million earned in the first quarter of 2007. Net profit amounted to E3.3 million in the first quarter of 2008 compared to E0.6 million earned in the corresponding quarter of 2007.
Dave Lemus, CFO of MorphoSys, said: “The first quarter aptly demonstrates continued growth and increasing profitability for both lines of our business. We expect increased milestone payments on the therapeutic side of our business in coming quarters to help support higher levels of revenues, profits and proprietary product investment.”