
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.
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 163,800+ biopharma pros reading Endpoints daily — and it's free.