MORF Morphic Holding Inc.

28.88
+0.02  (+0%)
Previous Close 28.86
Open 29.54
52 Week Low 9.9
52 Week High 31
Market Cap $885,403,213
Shares 30,658,006
Float 11,741,433
Enterprise Value $682,252,053
Volume 182,831
Av. Daily Volume 56,291
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Drug Pipeline

Drug Stage Notes
MORF-057
inflammatory bowel disease
Phase 1
Phase 1
Phase 1 trial to be initiated 3Q 2020.
MORF-720
Idiopathic pulmonary fibrosis
Phase 1
Phase 1
IND filing due late-2020.

Latest News

  1. WALTHAM, Mass., Sept. 03, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, today announced participation in the following investor conferences:

    • Praveen Tipirneni, M.D., president and chief executive officer is scheduled to take part in a fireside chat at 8:40 am ET on Thursday, September 10 at the 2020 Wells Fargo Virtual Healthcare Conference
    • The Morphic management team will host virtual meetings during the Citi 15th Annual BioPharma Virtual Conference taking place from September 8 to 11

    A live webcast of the Wells Fargo session will be available on the Investors section of Morphic's website at https://www.morphictx.com

    WALTHAM, Mass., Sept. 03, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, today announced participation in the following investor conferences:

    • Praveen Tipirneni, M.D., president and chief executive officer is scheduled to take part in a fireside chat at 8:40 am ET on Thursday, September 10 at the 2020 Wells Fargo Virtual Healthcare Conference
    • The Morphic management team will host virtual meetings during the Citi 15th Annual BioPharma Virtual Conference taking place from September 8 to 11

    A live webcast of the Wells Fargo session will be available on the Investors section of Morphic's website at https://www.morphictx.com. An archived replay will be available on the company's website following the conference.

    About Morphic Therapeutic

    Morphic Therapeutic is a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular and metabolic diseases, fibrosis and cancer. In collaboration with AbbVie, Janssen, and Schrödinger, Morphic is advancing its pipeline and discovery activities using its proprietary MInT technology platform which leverages the Company's unique understanding of integrin structure and biology. For more information, visit www.morphictx.com.

    Contacts

    Morphic Therapeutic

    Chris Erdman



    617.686.1718

    Media Contact

    Tom Donovan, Ten Bridge Communications



    857.559.3397

     

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  2. AbbVie to pay Morphic license fee of $20 million, with future potential milestones and royalties

    AbbVie to lead further development and commercialization

    WALTHAM, Mass., Aug. 25, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, and AbbVie (NYSE:ABBV) today announced that AbbVie has exercised a license option under the companies' research and development collaboration agreement to develop Morphic's αvβ6 integrin inhibitors for the treatment of fibrotic diseases including idiopathic pulmonary fibrosis (IPF) and additional indications. The αvβ6 integrin activates transforming growth factor beta (TGF-β…

    AbbVie to pay Morphic license fee of $20 million, with future potential milestones and royalties

    AbbVie to lead further development and commercialization

    WALTHAM, Mass., Aug. 25, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, and AbbVie (NYSE:ABBV) today announced that AbbVie has exercised a license option under the companies' research and development collaboration agreement to develop Morphic's αvβ6 integrin inhibitors for the treatment of fibrotic diseases including idiopathic pulmonary fibrosis (IPF) and additional indications. The αvβ6 integrin activates transforming growth factor beta (TGF-β), a key driver of tissue fibrosis. The license covers αvβ6 integrin specific inhibitors discovered from Morphic's proprietary MInT Platform, including the compounds MORF-720 and MORF-627, which are supported by an extensive preclinical data package demonstrating potential as treatments for IPF as well as other fibrotic diseases. Pursuant to the agreement between Morphic and AbbVie, Morphic will receive a license fee of $20 million, with potential future development milestone payments and royalties from the sales of any commercialized candidates.

    "The preclinical data strongly support Morphic's selective small molecule inhibitors of αvβ6 for development in fibrotic disease. AbbVie has been an excellent partner through the preclinical development of this program and we believe that their decision to assume leadership for the next stages of development is a strong vote of confidence in our collaboration, as well as Morphic's MInT platform to generate orally available integrin inhibitors," said Praveen Tipirneni, MD, president and chief executive officer of Morphic Therapeutic.

    About the Morphic-AbbVie Agreement

    Under the terms of the original agreement, AbbVie paid Morphic an upfront payment of $100 million for exclusive license options on product candidates directed at multiple targets. For each target, Morphic will conduct R&D activities through the completion of IND-enabling studies, at which point AbbVie may pay a license fee to exercise its exclusive license option and assume responsibility for global development and commercialization. Morphic is also eligible for additional, undisclosed clinical and commercial milestone payments and tiered royalties on worldwide net sales for each compound. Morphic retains cost-sharing rights in the development of liver fibrosis indications, and may opt into paying a percentage of AbbVie's development costs in exchange for enhanced royalties. 

    About Fibrosis and TGF-β

    Fibrosis occurs when chronic inflammation or persistent injury leads to the development of excessive connective tissue, which can lead to organ damage and impaired function. Fibrotic diseases can affect nearly all tissues and organ systems and, due to limited treatment options, can cause serious illness and death.

    The pro-fibrotic cytokine TGF-β is a key regulator of fibrosis, but attempts to globally suppress its activity have suffered from a narrow therapeutic index (dose-limiting toxicity). Several integrins, such as αvβ6, play a dominant role in local activation of TGF-β in diseased tissues. Inhibition of these integrins is therefore a compelling strategy for treating chronic fibrotic diseases with significant advantage over global TGF-β inhibitors.

    About Morphic Therapeutic

    Morphic Therapeutic is a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular and metabolic diseases, fibrosis and cancer. In collaboration with AbbVie, Janssen, and Schrödinger, Morphic is advancing its pipeline and discovery activities using its proprietary MInT technology platform which leverages the Company's unique understanding of integrin structure and biology. For more information, visit www.morphictx.com.

    Morphic Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking" statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: Morphic's or Morphic's partners' plan to develop and commercialize oral small-molecule integrin therapeutics; the ability of MORF-720, MORF-627 or another αvβ6 integrin inhibitor to treat idiopathic pulmonary fibrosis or any other fibrotic disease; and Morphic's expectations about timing and ability to obtain regulatory approvals for MORF-720, MORF-627 or any other of its product candidates. Statements including words such as "believe," "plan," "continue," "expect," "will be," "develop," "signal," "potential," or "ongoing" and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause Morphic's actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to Morphic's or, in the case of MORF-720, MORF-627 or another αvβ6 integrin inhibitor AbbVie's, ability to develop, obtain regulatory approval for and commercialize MORF-720, MORF-627 or another αvβ6 integrin inhibitor or any other product candidates, the timing and results of preclinical studies and clinical trials, Morphic's ability to protect intellectual property; and other risks set forth in our filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and Morphic specifically disclaims any obligation to update these forward-looking statements or reasons why actual results might differ, whether as a result of new information, future events or otherwise, except as required by law.

    About AbbVie

    AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook or LinkedIn.

    AbbVie Forward-Looking Statements

    Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties, including the impact of the COVID-19 pandemic on AbbVie's operations, results and financial results, that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, failure to realize the expected benefits of the Allergan acquisition, failure to promptly and effectively integrate Allergan's businesses, significant transaction costs and/or unknown or inestimable liabilities, potential litigation associated with the Allergan acquisition, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2019 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission (SEC). AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

    Contacts

    Morphic Therapeutic

    Chris Erdman



    617.686.1718

    Media Contact

    Tom Donovan, Ten Bridge Communications



    857.559.3397

    Primary Logo

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  3. Company's first IND accepted by FDA for MORF-057 in IBD
    Phase 1 study expected to begin in third-quarter 2020
    Positive data presented at DDW 2020 further support MORF-057 preclinical profile

    WALTHAM, Mass., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, today reported corporate highlights and second quarter 2020 financial results.

    "Morphic has made tremendous strides with our lead program, MORF-057, an oral small molecule inhibitor of α4β7 in development to treat inflammatory bowel disease. I'm so proud of the efforts of our team that has taken this program from the bench in Dr. Tim Springer's…

    Company's first IND accepted by FDA for MORF-057 in IBD

    Phase 1 study expected to begin in third-quarter 2020

    Positive data presented at DDW 2020 further support MORF-057 preclinical profile

    WALTHAM, Mass., Aug. 10, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, today reported corporate highlights and second quarter 2020 financial results.

    "Morphic has made tremendous strides with our lead program, MORF-057, an oral small molecule inhibitor of α4β7 in development to treat inflammatory bowel disease. I'm so proud of the efforts of our team that has taken this program from the bench in Dr. Tim Springer's Lab to the clinic in just a few short years," commented Praveen Tipirneni, M.D., president and chief executive officer of Morphic Therapeutic. "We recently presented a substantive preclinical data set at Digestive Disease Week that support MORF-057's profile as a candidate for the treatment of IBD through the proven mechanism of α4β7 inhibition with many potential advantages, including oral administration. While we are just beginning our clinical journey, I congratulate the Morphic team for the achievement of these important milestones on our mission to deliver a new generation of oral integrin therapeutics."

    Peter Linde, M.D., Morphic's chief medical officer, added, "We expect to initiate a robust clinical development program for MORF-057 imminently, beginning with a phase 1 clinical trial designed to evaluate the safety, pharmacokinetic and pharmacodynamic profile of this compound with single and multiple ascending dose cohorts. The phase 1 trial will also generate important receptor occupancy data that we believe could provide early clinical proof of concept and dose selection guidance for use in future studies within the MORF-057 program in IBD patients."

    Morphic is developing MORF-057 as a selective, oral small molecule inhibitor of the α4β7 integrin, a target for the treatment of inflammatory bowel disease (IBD) with an initial focus on moderate-to-severe ulcerative colitis (UC). The mechanism of α4β7 inhibition to treat IBD has been clinically validated by the success of the approved infused antibody therapy, vedolizumab.

    Second quarter and recent corporate highlights:

    • Announced acceptance of the Investigational New Drug (IND) filing for MORF-057 by the U.S. Food and Drug Administration (FDA), with a phase 1 clinical trial in healthy subjects expected to begin in the third quarter of 2020
      • The phase 1 trial is a randomized, double-blind placebo-controlled single and multiple ascending dose study in healthy adults evaluating endpoints including safety, tolerability, and pharmacokinetic and pharmacodynamic measures, as well as a concurrent food effect study
      • The full data set from the MORF-057 phase 1 trial is expected to be presented by mid-2021
    • Presented new positive preclinical data supporting MORF-057 in models of increasing complexity at the virtual Digestive Disease Week 2020
      • These data demonstrated MORF-057's inhibition of α4β7 -expressing lymphocyte migration to the gut, a fundamental contributor to IBD, acting through the same mechanism of action as the approved antibody therapeutic, vedolizumab
      • Further, oral administration of a MORF-057 analog in non-human primate studies demonstrated saturation of the α4β7 receptor throughout the entire 7-day dosing period – receptor saturation at the dosages assessed in preclinical studies provide further evidence that MORF-057 is an extremely potent inhibitor of α4β7  and may produce clinical efficacy
    • Continued progress in our collaboration with AbbVie on the development of integrin inhibitors, including αvβ6 and other integrin targets
    • Appointed Marc Schegerin, M.D., MBA, as chief operating officer and chief financial officer; Dr. Schegerin was previously chief financial officer of ArQule until its acquisition by Merck. His prior roles include senior positions in finance, business development and healthcare investment banking

    COVID-19 Preparedness

    Morphic is not currently aware of any significant delay to its timelines due to the COVID-19 pandemic. In light of the evolving circumstances, Morphic will continue to assess any potential impact of the COVID-19 pandemic in dialogue with regulators, partners and vendors.

    Financial Results for Second Quarter 2020

    Net loss for the quarter ended June 30, 2020 was $15.9 million or $0.52 per share compared to a net loss of $9.4 million or $4.73 per share for the same quarter last year.

    • Revenue was $7.7 million for the quarter ended June 30, 2020 compared to $5.6 million for the same quarter last year. The increase was due to higher level of research & development efforts in collaboration agreements signed with AbbVie in October 2018 and Janssen in February 2019
    • Research and development expenses were $19.9 million for the quarter ended June 30, 2020, compared to $13.9 million in the same quarter last year. The $6.0 million increase year-over-year reflects development and manufacturing costs associated with lead wholly owned product candidate, MORF-057; research costs associated with preclinical studies related to our partnered product candidate MORF-720 with AbbVie; as well as increased personnel-related costs to support continued progress with the company's pipeline
    • General and administrative expenses were $4.2 million for the quarter ended June 30, 2020, compared to $2.1 million in the same quarter last year. The $2.1 million increase year-over-year was primarily attributable to increased headcount and higher professional fees to operate as a public company along with consulting fees associated with ongoing business development activities

    As of June 30, 2020, Morphic had cash, cash equivalents and marketable securities of $202.5 million, compared to $237.0 million at the end of 2019. Morphic believes its cash, cash equivalents and marketable securities balance as of June 30, 2020 will be sufficient to fund operating expenses and capital expenditure requirements at least through the end of 2022.

    Financial Tables Follow

     
     
     Morphic Holding Inc.
    Condensed Consolidated Statements of Operations
    (unaudited)
    (in thousands, except share and per share data)
                  
                  
      Three Months Ended Six Months Ended
     June 30 June 30
       2020    2019    2020    2019   
             
    Collaboration revenue$7,693  $ 5,567   $13,287  $ 11,635   
    Operating expenses:       
    Research and development 19,918    13,907    38,878    24,278   
    General and administrative 4,195    2,077    8,618    3,908   
    Total operating expenses 24,113    15,984    47,496    28,186   
    Loss from operations (16,420)   (10,417)   (34,209)   (16,551)  
    Interest income, net 407    1,119    1,293    2,182   
    Total other income 407    1,119    1,293    2,182   
    Loss before benefit from (provision for) income taxes (16,013)   (9,298)   (32,916)   (14,369)  
    Benefit from (provision for) income taxes 155    (135)   312    (264)  
    Net loss$(15,858)  $(9,433)  $(32,604)  $(14,633)  
    Net loss per share, basic and diluted$(0.52)  $(4.73)  $1.08   $(7.54)  
    Weighted-average common shares outstanding, basic and diluted 30,360,851    1,992,410    30,274,713    1,940,923   
                      



      
     Morphic Holding Inc.
     Condensed Consolidated Balance Sheets 
     (unaudited)
     (in thousands)
         
      June 30, 2020  December 31, 2019 
    Assets   
     Cash, cash equivalents and marketable securities$202,538  $237,016 
     Other current assets 6,072   6,557 
     Total current assets 208,610   243,573 
     Other assets 3,389   3,862 
    Total assets$211,999  $247,435 
         
    Liabilities and Stockholders' Equity   
     Current liabilities$45,284  $35,350 
     Long-term liabilities 51,798   71,167 
     Total liabilities 97,082   106,517 
     Total stockholders' equity 114,917   140,918 
    Total liabilities and stockholders' equity$211,999  $247,435 
             

    About Morphic Therapeutic

    Morphic Therapeutic is a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular and metabolic diseases, fibrosis and cancer. In collaboration with AbbVie, Janssen and Schrödinger, Morphic is advancing its pipeline and discovery activities using its proprietary MInT technology platform which leverages the Company's unique understanding of integrin structure and biology. For more information, visit www.morphictx.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking" statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: Morphic's plan to develop and commercialize oral small-molecule integrin therapeutics and Morphic's expectations about timing and ability to commence or complete clinical studies and to obtain regulatory approvals for MORF-057, MORF-720, and other candidates in development, the ability of MORF-057 to treat inflammatory bowel disease, the potential impact of the COVID-19 pandemic and the sufficiency of our cash, cash equivalents and investments to fund our operations. Statements including words such as "believe," "plan," "continue," "expect," "will be," "develop," "signal," "potential," or "ongoing" and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause Morphic's actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to Morphic's ability to develop, obtain regulatory approval for and commercialize MORF-057, MORF-720, and other product candidates, the timing and results of preclinical studies and clinical trials, the potential impact of the COVID-19 pandemic, Morphic's ability to protect intellectual property; and other risks set forth in our filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and Morphic specifically disclaims any obligation to update these forward-looking statements or reasons why actual results might differ, whether as a result of new information, future events or otherwise, except as required by law.

    Contacts

    Morphic Therapeutic

    Chris Erdman



    617.686.1718

    Media Contact

    Tom Donovan, Ten Bridge Communications



    857.559.3397

    Primary Logo

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  4. Receptor occupancy, potency and selectivity data further build MORF-057 preclinical profile as an oral small molecule treatment candidate for IBD

    IND filing on track for mid-year and phase 1 clinical trial expected third-quarter 2020

    WALTHAM, Mass., June 29, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, today announced a presentation highlighting Morphic's product candidate MORF-057 at the 2020 Digestive Disease Week (DDW) virtual event. The new data presented at DDW expand on Morphic's recent oral presentation at the 15th Congress of the European Crohn's and Colitis Organisation (ECCO), which support…

    Receptor occupancy, potency and selectivity data further build MORF-057 preclinical profile as an oral small molecule treatment candidate for IBD

    IND filing on track for mid-year and phase 1 clinical trial expected third-quarter 2020

    WALTHAM, Mass., June 29, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, today announced a presentation highlighting Morphic's product candidate MORF-057 at the 2020 Digestive Disease Week (DDW) virtual event. The new data presented at DDW expand on Morphic's recent oral presentation at the 15th Congress of the European Crohn's and Colitis Organisation (ECCO), which support MORF-057's development as a potent, selective, and orally available small molecule inhibitor of the integrin α4β7, a validated target for the treatment of inflammatory bowel disease (IBD).

    "The data presented at DDW demonstrate that MORF-057 successfully targets the integrin α4β7 with high potency and selectivity. These studies recapitulate results from previous in vitro and in vivo models of increasing complexity and bolster the emerging profile of MORF-057 by demonstrating saturation of α4β7 in non-human primate receptor occupancy studies," commented Bruce Rogers, Ph.D., chief scientific officer of Morphic Therapeutic. "We believe a safe and effective oral inhibitor of α4β7 would provide a highly differentiated new treatment for IBD and we now look forward to filing the Investigational New Drug Application for MORF-057 and the initiation of clinical studies for this promising drug candidate."

    About the MORF-057 DDW Presentation

    The data presented at DDW demonstrate MORF-057's inhibition of α4β7-expressing lymphocyte migration to the gut, which is a fundamental contributor to IBD. In mice, its inhibitory activity demonstrated potency comparable to an anti-α4β7 antibody. In non-human primate (NHP) models, MORF-057 demonstrated important proof of mechanistic activity by driving accumulation of mucosal homing α4β7-high expressing T cells in the peripheral blood, in an analogous manner to the approved anti-α4β7 antibody, vedolizumab. Importantly, a MORF-057 analog demonstrated >90% receptor occupancy of α4β7 in NHPs, providing an important indicator of the product candidate's target engagement.

    In biochemical assays MORF-057 demonstrated high selectivity over a broad panel of integrins. These results were consistent in cell adhesion assays, where MORF-057 showed greater than 3,000-fold targeted selectivity of α4β7 integrin over its nearest family members, including α4β1. MORF-057 was designed to achieve high selectivity for α4β7 over α4β1 to help prevent unwanted localized immune suppression potentially leading to certain adverse opportunistic infections. In contrast to small molecule or antibody inhibitors of α4β1, a MORF-057 analog did not show a statistically significant increase in lymphocytes in mice in these studies.

    Details of the Poster Presentation at DDW 2020:



    TitlePreclinical Characterization of an Oral Small Molecule Inhibitor Targeting the Integrin α4β7 for the Treatment of Inflammatory Bowel Diseases (IBD)



    Presenter: Dr. Jamie Wong, Ph.D.



    Contributors: Jamie Wong, Matthew Bursavich, Natalia Blanco, Adam Camblin, Laura Cappellucci, Rhianna Cohen, Dan Cui, Kris Hahn, Megan Krumpoch, Dooyoung Lee, Fu-Yang Lin, Blaise Lippa, Alex Lugovskoy, Molly McShea, Maloy Mangada, Siavash Mostafavi, Terence Moy, Adrian Ray, Naresh Redhu, Allison Sang, Andrew Sullivan, Peter Traber, Dawn Troast, Cheng Zhong, Liangsu Wang, Bruce Rogers

    This DDW presentation is available on the Morphic website on the Investor page.

    About MORF-057

    Morphic is developing MORF-057 as a selective, oral small molecule inhibitor of the α4β7 integrin for patients with inflammatory bowel disease (IBD). α4β7 has been clinically validated as a target for the treatment of IBD by the success of the approved antibody therapeutic vedolizumab. MORF-057 is designed to block the interactions between α4β7 on the surface of lymphocytes and the mucosal endothelial cell ligand MAdCAM-1, preventing lymphocyte migration from the bloodstream into intestinal mucosal tissues and causing inflammation. 

    About Morphic Therapeutic

    Morphic Therapeutic is a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular and metabolic diseases, fibrosis and cancer. In collaboration with AbbVie, Janssen, and Schrödinger, Morphic is advancing its pipeline and discovery activities using its proprietary MInT technology platform which leverages the Company's unique understanding of integrin structure and biology. For more information, visit www.morphictx.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains "forward-looking" statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: Morphic's plan to develop and commercialize oral small-molecule integrin therapeutics; the ability of MORF-057 to treat inflammatory bowel disease; and Morphic's expectations about timing and ability to obtain regulatory approvals for MORF-057 or any other of its product candidates. Statements including words such as "believe," "plan," "continue," "expect," "will be," "develop," "signal," "potential," or "ongoing" and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause Morphic's actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to Morphic's ability to develop, obtain regulatory approval for and commercialize MORF-720, MORF-057, and other product candidates, the timing and results of preclinical studies and clinical trials, the potential impact of the COVID-19 pandemic, Morphic's ability to protect intellectual property; and other risks set forth in our filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and Morphic specifically disclaims any obligation to update these forward-looking statements or reasons why actual results might differ, whether as a result of new information, future events or otherwise, except as required by law.

    Contacts

    Morphic Therapeutic

    Chris Erdman



    617.686.1718

    Media Contact

    Tom Donovan, Ten Bridge Communications

     

    857.559.3397

    Primary Logo

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  5. WALTHAM, Mass., June 18, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral therapies targeting integrins for the treatment of serious chronic diseases, today announced that Praveen Tipirneni, M.D., president and chief executive officer, and Marc Schegerin, M.D., chief financial officer and chief operating officer, are scheduled to make a presentation at the BMO 2020 Prescriptions for Success Healthcare Virtual Conference at 11:00 a.m. ET on Tuesday, June 23, 2020. Morphic will give an update on the company's progress across its portfolio of oral small molecule integrin inhibitors.

    A live webcast of the presentation will be available on the Investors section of Morphic's…

    WALTHAM, Mass., June 18, 2020 (GLOBE NEWSWIRE) -- Morphic Therapeutic (NASDAQ:MORF), a biopharmaceutical company developing a new generation of oral therapies targeting integrins for the treatment of serious chronic diseases, today announced that Praveen Tipirneni, M.D., president and chief executive officer, and Marc Schegerin, M.D., chief financial officer and chief operating officer, are scheduled to make a presentation at the BMO 2020 Prescriptions for Success Healthcare Virtual Conference at 11:00 a.m. ET on Tuesday, June 23, 2020. Morphic will give an update on the company's progress across its portfolio of oral small molecule integrin inhibitors.

    A live webcast of the presentation will be available on the Investors section of Morphic's website at https://www.morphictx.com. An archived replay will be available on the company's website following the conference.

    About Morphic Therapeutic

    Morphic Therapeutic is a biopharmaceutical company developing a new generation of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular and metabolic diseases, fibrosis and cancer. In collaboration with AbbVie, Janssen and Schrödinger, Morphic is advancing its pipeline and discovery activities using its proprietary MInT technology platform which leverages the Company's unique understanding of integrin structure and biology. For more information, visit www.morphictx.com.

    Contacts

    Morphic Therapeutic

    Chris Erdman



    617.686.1718

    Primary Logo

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