A One Of A Kind Deal: Morphic Holding, Inc. (NASDAQ: MORF)

On 17 Jan 2020, Morphic Holding, Inc. (NASDAQ: MORF) stock observed trading -41.22% off 52-week high price. On the other end, the stock has been noted 63.67% away from low price over the last 52-weeks. The stock disclosed a move of 19.07% away from 50 day moving average and 7.77% away from 200 day moving average. Moving closer, we can see that shares have been trading 11.23% off 20-day moving average. It has market cap of $596.02M.

Morphic Therapeutic (MORF) recently stated corporate highlights and financial results for the third quarter of 2019.

Financial Results for Third Quarter 2019

Net loss for the quarter ended September 30, 2019, was $8.9M or $0.30 per share contrast to a net loss of $7.1M or $7.00 per unit (units were converted to shares as a result of converting from a limited liability company to a corporation previous to the IPO), for the same quarter last year.

Revenue was $5.7M for the quarter ended September 30, 2019 contrast to $0 for the same quarter last year. The increase was Because of alliance contracts signed by AbbVie in October 2018 and Janssen in February 2019.

Research and development expenses were $12.6M for the quarter ended September 30, 2019, contrast to $5.8M in the same quarter last year. The $6.8M increase year-over-year reflects higher development and manufacturing costs associated with our product candidate, MORF-720; research costs associated with preclinical studies; as well as increased personnel-related costs to support continued progress with the company’s pipeline.

General and administrative expenses were $2.9M for the quarter ended September 30, 2019, contrast to $1.4M in the same quarter last year. The $1.5M increase year-over-year was primarily attributable to increased headcount and higher professional and consulting fees associated with ongoing business activities and Morphic’s operating as a public company.

As of September 30, 2019, Morphic had cash, cash equivalents and marketable securities of $251.7M, contrast to $185.9M as of December 31, 2018. Morphic believes its cash, cash equivalents and marketable securities as of September 30, 2019, will be sufficient to fund operating expenses and capital expenditure requirements at least through the end of 2022.

MORF’s shares are at 36.45% for the quarter and is now at 14.74% since this point in 2018. The USA based company Morphic Holding, Inc. moved with change of -2.23% to $19.69 with the total traded volume of 71009 shares in recent session versus to an average volume of 54.04K.

 

Jasmine Gerber

Jasmine Gerber – Market Movers I am known as Jasmine Gerber, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about technology and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.

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