Morphosys (MOR) has released an update.
MorphoSys AG has entered a definitive agreement to be acquired by Novartis for €68.00 per share, valuing the company at €2.7 billion. The buyout offer follows all required antitrust approvals and is part of a shareholder acceptance period ending May 13, 2024. Additionally, MorphoSys sold all rights for tafasitamab to Incyte, and despite increased operating losses in Q1 2024, the company holds a strong cash position with €631.9 million in assets.
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