MorphoSys AG

Ladies and gentlemen, good afternoon or good morning. My name is Wilna Eubauer, Head of Investor Relations at Morphosis, and it is my pleasure to welcome you to our half-year 2022 Financial Results Conference Call. With me on the call today are Sean Paul Kress, Chief Executive Officer, Sung Lee, Chief Financial Officer, Malte Peters, Chief Research and Development Officer, and Joe Horvath, U.S. General Manager. Before we begin, I'd like to remind you on slide two that some of our statements made during the call today are forward-looking statements, including statements regarding our expectations for the commercialization of our products and our development plans, and expectations for the compounds in our pipeline, as well as the development plans of our collaboration partners. These forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to differ materially, including those described in Morphosis 20F, an annual report, all for the year ended December 31st, 2021, and from time to time in other SEC documents of morphosis. It is important to keep in mind that our statements in this webcast speak as of today. On slide three, you find the agenda for today's call. Jean-Paul will begin with an overview and will give an outlook. Joe then will provide a commercial update and Malte will provide an update on our development pipeline before turning the call to Sang for a summary of our second quarter 2022 financial results. Following these prepared remarks, we will open the call for your question. With that, I now hand the call over to Jean-Paul.

Thank you, Julia. Welcome, everyone, and thank you for joining us today. In the second quarter, we made progress on our strategy and commitment in becoming a leader in hematology oncology and making a meaningful difference in the lives of cancer patients. Starting with Monjuvi, our commercial cancer immunotherapy. We are pleased with a bounce back in sales in the second quarter in an environment that is becoming increasingly more competitive. Joe will provide more details shortly. We are encouraged by what we are seeing in the trends related to duration of therapy. However, we also recognize the competitive landscape has increased, including recent approvals of additional second-line treatment options. As such, we lowered our expectations for growth in the second half of 2022, which is reflected in our revised sales guidance range for Montjuvi. We continue to drive second-line growth and work closely with healthcare professionals on the importance of duration of treatment to ensure the best outcome for the appropriate patients. Turning now to our late-stage pipeline, we are encouraged with the pace of enrollment for our Pellabrecibe and Monjuvie Pivotal Phase III studies. We continue to work in a focused manner to transform the treatment paradigm for difficult-to-treat heme-onc diseases and to have a positive impact for patients. Pelabrasib is being studied in first-line myelofibrosis in combination with ruxolitinib. If approved, this regimen could change the standard of care for patients and generate more than $1 billion in peak sales. We're excited about Pelabrasip's potential disease-modifying dynamics, where the data continues to mature. We recently presented positive data at IHA and continue to receive excellent KOL feedback, which Malte will talk to later. For Montjuvi, the largest opportunity is in the first-line DLBCL setting, where there remains a large unmet need. There is significant interest from the medical community in the front-line study that is having a positive effect on enrollment. The study focuses on high-risk patients with an IPI score of 3 to 5, which we believe distinguishes this study from others. We also have a mid-stage asset with CPI-0209, which is our easy H2 inhibitor, and we will be providing data later this year. Looking now at business development, we were excited to enter into an equity participation and license agreement with High Bio for Felsartamab and more 210. The High Bio team are very experienced drug developers and science experts in autoimmune diseases. and are exceptionally well positioned to successfully advance salzartamab and more to turn into new medicines for patients who are in desperate need of better treatment options. This agreement allows us to focus our resources on hematology oncology. The benefits of the deal are also reflected in our updated R&D guidance. We entered a clinical trial collaboration with Pfizer as they looked to combine Monjuvi with their CD47 candidate called TTI622 in RR-DLBCL. We also continue to be encouraged about the progress within our partner pipeline. We expect pivotal data readouts from Roche in Alzheimer's disease and from GSK for Otilimab in RA by the end of this year. As mentioned in our Q1 earnings call, with Yanalumab, Abelacimab, and Cetrusumab, the next wave of partner programs has reached late-stage clinical development. We remain focused on executing commercially and advancing our late-stage pipeline. The field teams are driving Monjovi awareness and education. And as I previously mentioned, we are very encouraged with the pace of enrollment of our pivotal studies, which represent potential large value-creating opportunities over the mid to long term. We have a strong balance sheet and cash runway. We have further strengthened this as we exercise our option to draw on $300 million via development funding bonds as per our agreement with Royalty Pharma. Thank you. And with that, I will turn the call now over to Joe for a commercial update.

Joe, please.