MorphoSys chops back again, this time cutting preclinical efforts in late-stage push
Almost exactly a year after MorphoSys $MOR signaled a retreat out of the early-stage programs picked up in its $1.7 billion Constellation buyout and concentrated its work in Germany, the biotech is back with another R&D retrenchment.
MorphoSys execs said Thursday morning they would chop out their entire preclinical effort in a cost-cutting move, laying off 17% of its workforce — without specifying the number — and tightening its research lines around late- and mid-stage clinical work.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.