Jean-Paul Kress, MorphoSys CEO

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.

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