MorphoSys AG achieved a dramatic increase in liquidity in the first quarter following a new licensing deal with Incyte Corp and ongoing milestone payments from its partner Janssen Biotech Inc. Total liquidity amounted to €1.1 billion at the end of the quarter, up from €357.4 million on 31 December 2019. At an analyst briefing on 7 May, Jean-Paul Kress, the chief executive, said the cash will finance the company’s commercial operations in the US ahead of the expected launch of the cancer drug tafasitamab. It will also pay for the in-licensing of new assets.
