Financial liabilities

MorphoSys AG to Update Financial Forecast for 2021 and Reduce Financial Liabilities

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Based on the unaudited preliminary consolidated results for the first half of 2021, MorphoSys now expects Group sales of between 155 and 180 million euros (previously: 150 to 200 million euros, communicated on 15 March 2021 and reiterated on May 5, 2021). The updated revenue forecast primarily reflects the updated Monjuvi (R) product sales expectations. PLANEGG / MUNICH, GERMANY / ACCESSWIRE / July 26, 2021 / MorphoSys AG (FSE: MOR; NASDAQ: MOR) today announces an update to its financial guidance for 2021 following the preliminary completion of the latest assessment of the financial performance of the 2021 semester of MorphoSys.

Following the update of sales forecasts for Monjuvi products, the balance sheet position “Financial liabilities of collaborations, net of the current part” is reduced from 547.6 million euros (balance at March 31, 2021) to 445.9 million euros (balance as of 30, 2021). The balance of “Financial liabilities of collaborations, net of the current part” reflects an accounting view of the expected profits from the net sales of Monjuvi products in the United States within the framework of the DLBCL r / r due to our partner Incyte. The reduction in Collaborations’ Financial Liabilities has no impact on cash flow.

MorphoSys now expects the Group’s operating expenses, which include R&D and sales, as well as general and administrative expenses, to be between 435 and 465 million euros (previously: 355 to 385 million euros). ‘euros). R&D expenses should now represent 52 to 57% of the Group’s operating expenses (previously 45 to 50%), excluding one-off transaction costs. The updated forecast of the Group’s operating expenses mainly reflects the acquisition of Constellation Pharmaceuticals (Constellation), which was finalized on July 15, 2021. The revised range of the Group also includes non-recurring transaction costs of 36 million euros , related to agreements with Constellation and Royalty Pharmacy.

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Full results will be released as scheduled on July 28, 2021.

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About MorphoSysMorphoSys (FSE & NASDAQ: MOR) is a biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies for people with cancer and autoimmune diseases. Based on its cutting-edge expertise in antibody and protein technologies, MorphoSys is developing its own pipeline of new drug candidates and has created antibodies that are developed by partners in different areas of unmet medical needs. In 2017, Tremfya (R) (guselkumab) – developed by Janssen Research & Development, LLC and marketed by Janssen Biotech, Inc. for the treatment of plaque psoriasis – became the first drug based on MorphoSys antibody technology to receive regulatory approval. In July 2020, the US Food and Drug Administration granted fast-track approval of the company’s proprietary product Monjuvi (R) (tafasitamab-cxix) in combination with lenalidomide for patients with a certain type of lymphoma. Based near Munich, Germany, the MorphoSys group, including 100% US subsidiaries MorphoSys US Inc. and Constellation Pharmaceuticals, Inc., has more than 750 employees. For more information, visit www.morphosys.com.

Information and explanation from the issuer to this news:

Monjuvi (R) is a registered trademark of MorphoSys AG. Tremfya (R) is a registered trademark of Janssen Biotech, Inc.

Forward-looking statements This communication contains certain forward-looking statements concerning the MorphoSys group of companies. The forward-looking statements contained in this document represent the judgment of MorphoSys as of the date of this press release and involve known and unknown risks and uncertainties, which could lead to the actual results, financial situation and liquidity, performance or achievements of MorphoSys. , or industry results, be materially different from historical or future results, financial conditions and liquidity, performance or achievements expressed or implied by such forward-looking statements. In addition, even if the results, performance, financial position and liquidity of MorphoSys, as well as the development of the industry in which it operates are consistent with these forward-looking statements, they may not be predictive of the results or developments. for future periods. Factors that may cause differences include the fact that MorphoSys’ expectations may be incorrect, inherent uncertainties associated with competitive developments, clinical trials and product development activities and regulatory approval requirements, dependence on MorphoSys collaborations with third parties, estimating the commercial potential of its development programs and other risks indicated in the risk factors included in MorphoSys’ annual report on Form 20-F and other documents filed with the Securities and Exchange Commission the United States. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. MorphoSys expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations in this regard or any change in the events, conditions or circumstances on which such statement is based or which may affect the likelihood that results will differ from those set forth in forward-looking statements, unless specifically required by law or regulation.

For more information please contact:

Dr. Julia Neugebauer Senior Director of Investor Relations Tel: +49 (0) 89/899 27 179 [email protected]

Myles Clouston Senior Director of Investor Relations Tel: +1 [email protected]

SOURCE: MorphoSys AG

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Environmental liabilities: Financial liabilities reported by NASA have increased and several factors contribute to future uncertainties

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Fast facts

In fiscal 2019, NASA said it was responsible for $ 1.7 billion in environmental liabilities for remediation projects aimed at tackling contamination resulting from mission activities such as rocket testing, a 45% increase from fiscal 2014. NASA had 14 sites requiring cleanup in fiscal 2019. Most of the increase occurred at one location due to strict cleanup requirements soils that NASA had not planned.

NASA is still collecting information on the cost of some restoration projects that are still in development. Additionally, new or changing cleanup requirements may increase or decrease NASA’s future environmental liabilities and federal government tax exposure.

A Jet Propulsion Laboratory plant treats contaminated groundwater for consumption.

Strong points

What GAO found

The National Aeronautics and Space Administration (NASA) estimated that agency-wide cleanup and restoration would cost $ 1.9 billion as of fiscal 2020, compared to $ 1.7 billion for the fiscal year 2019. This reflects an increase of $ 724 million, or 61%, from 2014. NASA has identified contamination in 14 centers across the country, as of 2019. Five of 14 centers have reduced their environmental liabilities from 2014 to 2019, but the growth in liabilities in the other centers offset these decreases and contributed to the net increase in environmental liabilities. The Santa Susanna, Calif., Field laboratory experienced growth of approximately $ 502 million in environmental liabilities during this period (see fig.). Almost all of this growth has resulted from California soil cleaning requirements that NASA did not anticipate.

These NASA centers reported increases or decreases in environmental liabilities for restoration projects greater than $ 10 million between fiscal 2014 and 2019

These NASA centers reported increases or decreases in environmental responsibilities for restoration projects greater than one million between fiscal years 2014 and 2019

NASA’s fiscal 2019 environmental liability estimate for remediation projects does not include certain costs, and certain factors may affect NASA’s future environmental liabilities, potentially increasing or decreasing the federal government’s tax exposure. . Some costs are not included in the FY2019 estimate because some projects are at a stage of development where NASA needs to gather more information to fully estimate cleanup costs. Additionally, NASA limits its restoration project estimates to 30 years because the agency considers anything over 30 years unreasonably estimable. Sixty of the 115 restoration projects opened by NASA in fiscal 2019 are expected to last more than 30 years. Regarding factors that could affect future environmental liabilities, NASA is evaluating its centers for the contamination of certain chemicals that it had not previously identified, but does not yet know the impact of the associated cleanup on the liabilities. agency, in part because standards for cleaning these chemicals do not yet exist. New cleanup requirements for emerging contaminants could increase NASA’s environmental liabilities and create additional tax exposure for the federal government. In addition, NASA has committed, as part of an agreement with the State of California, to clean the floor of the Santa Susanna field laboratory to a certain standard, but the agency decided in September 2020 to pursue a risk-based cleaning standard, which the State of California opposed. According to NASA, a risk-based cleaning standard at the Santa Susanna field laboratory could reduce NASA’s environmental liabilities and reduce the federal government’s tax exposure by about $ 355 million.

Why GAO did this study

Decades of NASA research for space exploration have relied on certain chemicals that can be dangerous to human health and the environment. NASA has identified 14 centers across the country with hazardous chemicals that require environmental cleanup and restoration. NASA’s Environmental Compliance and Restoration Program oversees the agency’s environmental cleanup. NASA’s estimate of environmental liabilities is reported annually in the agency’s financial statements. Federal accounting standards require agencies responsible for contamination to estimate and report their future cleanup costs when they are both probable and reasonably estimable.

This report describes (1) NASA’s environmental responsibilities for fiscal years 2014 through 2019 remediation projects – the most recent data available at the time of our review – and (2) factors that could contribute to uncertainties regarding environmental liabilities. current or future NASA. GAO reviewed NASA’s financial statements, guidelines and other relevant reports and interviewed NASA officials from headquarters and three centers, selected because of changes in their reported liabilities.

NASA provided technical comments on a draft of this report, which have been incorporated where appropriate.

For more information, contact Allison Bawden at (202) 512-3841 or [email protected]


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Balabhaskar had no financial liabilities, says his wife Lekshmi | Balabhaskar | CBI

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Thiruvananthapuram: The Central Bureau of Investigation (CBI) has opened its investigation into the accident that resulted in the deaths of violinist Balabhaskar and his daughter.

A CBI team led by DYSP TP Ananthakrishnan recorded statements from Balabhaskar’s wife, Lekshmi, his brother Prasad and his mother Omanakumari. The statements of Father CK Unni of Balabhaskar and his mother Santhakumari will be recorded on Wednesday.

Lekshmi reiterated his statement that driver Arjun was driving the vehicle when the accident took place.

Lekshmi also said that Vishnu Somasundaram and Prakash Thambi were not the directors of Balabhasker and that Prakasan used to organize his musical concerts. She added that Vishnu and Balabhaskar had known each other from school.

Lekshmi also said that they met Latha, who runs an Ayurvedic hospital in Palakkad, at a concert and that Balabhasker then went to his hospital once for treatment. Balabhaskar had no financial relationship with Latha other than once loaning him money.

Balabhaskar had no financial liabilities and did not entrust anyone with the management of his money, Lekshmi told the officers.

Lekshmi recounted that Arjun and Balabhasker got out of the vehicle for juice when they reached Kollam on the night of the accident. However, it was Arjun who drove the car after that, she said.

Lekshmi remembered that the vehicle had made a sharp turn and his forehead had hit something. However, she does not remember anything that happened afterward.


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India’s international financial liabilities increased by $ 10.5 billion

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India’s international financial liabilities increased by $ 10.5 billion to reach $ 723.9 billion at the end of December 2012, according to the report.

Created on: Mar 30, 2013 10:50 ISTModified on: March 30, 2013 10:52 IST

India’s international financial liabilities increased by $ 10.5 billion to reach $ 723.9 billion at the end of December 2012, according to India’s international investment position (IIP) report released by RBI in March. 2013.

During the period October-December 2012, the international financial assets of Indian citizens remained unchanged at $ 441.9 billion.

Net claims of non-residents on India (as reflected by net IIP, i.e. international financial assets abroad minus international financial liabilities) increased by $ 10.4 billion US dollars compared to the previous quarter to reach US $ 282.0 billion at the end of December 2012, mainly due to an increase of US $ 10.5 billion in liabilities Changes in the IIP also reflect changes in valuation resulting from exchange rate fluctuations.

Due to the depreciation of the rupee from the end of September 2012 to the end of December 2012, the equity commitments in US dollars were revised downwards by 13.2 billion US dollars (8.4 billion US dollars in direct investment and US $ 4.8 billion in portfolio investments).

India’s ratio of international financial assets to international financial liabilities declined to 61.0% in December 2012 (61.9% in September 2012).

What is the international investment position (IAP)?

The international investment position is a statistical statement that shows the value and composition of the financial assets of residents of an economy and the liabilities of residents of an economy to non-residents.

Such an analysis of the balance sheet of international accounts helps to understand the sustainability and vulnerability of the economy.

Changes in a country’s international investment position also reflect changes in valuation resulting from fluctuations in exchange rates.

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