MORF Morphic Holding Inc.

55.08
+1.47  (+3%)
Previous Close 53.61
Open 52.79
52 Week Low 22.686
52 Week High 93
Market Cap $1,994,687,334
Shares 36,214,367
Float 18,198,112
Enterprise Value $1,638,347,826
Volume 491,578
Av. Daily Volume 230,498
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Drug Pipeline

Drug Stage Notes
MORF-057
Healthy volunteers
Phase 1
Phase 1
Phase 1 full data released July 9, 2021 - well tolerated in all cohorts and no safety signals were identified.
MORF-720
Idiopathic pulmonary fibrosis
Phase 1
Phase 1
IND filing planned.

Latest News

  1. MORF-057 well tolerated across all phase 1 cohorts

    Dose-dependent α4β7 receptor occupancy (RO) observed with receptor saturation at 100 mg dose

    Biomarker changes including lymphocyte subset migration and CCR9 transcript levels provide early proof of biology

    Conference call today at 8:00 AM ET

    WALTHAM, Mass., July 09, 2021 (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 positive results from its full phase 1 clinical trial for MORF-057, an oral small molecule inhibitor of the α4β7 integrin in development for the treatment of inflammatory bowel disease (IBD). The data were shared today in…

    MORF-057 well tolerated across all phase 1 cohorts

    Dose-dependent α4β7 receptor occupancy (RO) observed with receptor saturation at 100 mg dose

    Biomarker changes including lymphocyte subset migration and CCR9 transcript levels provide early proof of biology

    Conference call today at 8:00 AM ET

    WALTHAM, Mass., July 09, 2021 (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 positive results from its full phase 1 clinical trial for MORF-057, an oral small molecule inhibitor of the α4β7 integrin in development for the treatment of inflammatory bowel disease (IBD). The data were shared today in an ePoster presentation at the Congress of European Crohn's and Colitis Organisation (ECCO) 2021 Virtual Congress. The additional data shared today include detail regarding the safety, pharmacokinetic (PK) and pharmacodynamic (PD) performance of MORF-057 in healthy subjects.

    "The complete phase 1 clinical data set including a favorable safety profile, predictable PK and excellent PD results, confirm MORF-057 as a very strong candidate for oral therapy in inflammatory bowel disease. Notably, MORF-057's substantial effect on α4β7-expressing lymphocyte migration and CCR9 transcripts in a short two-week dosing period in healthy subjects provides evidence of the selective blockage of lymphocyte homing, a well-validated mechanism for combating the pathological inflammation in IBD," said Peter Linde, M.D., chief medical officer at Morphic Therapeutic. "We have high confidence as we prepare for a MORF-057 phase 2 clinical program in patients with ulcerative colitis. Our increased conviction is based on the expanded safety profile and even stronger RO data reported today, in combination with biomarker data which we believe provide us with strong evidence of proof of biology."

    ECCO ePoster #306, titled MORF-057, an oral selective α4β7 integrin inhibitor for inflammatory bowel disease, leads to specific target engagement in a single and multiple ascending dose study in healthy subjects, was presented today by Adrian S. Ray, Ph.D., head of biology and translation at Morphic, is viewable on Morphic Therapeutic's website here.

    The MORF-057 phase 1 study included single ascending dose (SAD), multiple ascending dose (MAD), and food effect (FE) cohorts evaluating MORF-057 safety, PK, and PD. Healthy subjects were randomized 3:1 to receive a single dose of MORF-057 at 25, 50, 100, 150 and 400 mg or matching placebo in the SAD cohorts; or twice daily (BID) doses of 25, 50 and 100 mg MORF-057 or matching placebo for a total of 14 days in the MAD cohorts. A total of 67 eligible healthy subjects were enrolled into the studies, with 36 in the SAD, nine in the FE and 22 in the MAD cohorts. 66 subjects completed study treatment and one from the 50 mg BID MAD cohort withdrew consent for personal reasons.

    MORF-057 was well tolerated in all cohorts and no safety signals were identified. MORF-057 demonstrated a favorable PK profile, where target engagement was confirmed, and a clear PK and PD relationship was established. MORF-057 was rapidly absorbed and systemic exposure was confirmed to increase approximately dose proportionally. A slight reduction in exposure without effect on trough concentrations was observed upon administration with a high fat meal in the food effect study. The results suggest food intake has no impact on trough MORF-057 levels and that MORF-057 can be administered without regard to food in planned studies in patients.

    α4β7 receptor occupancy increased with dose and study day, achieving saturation (>99% RO) in individual patients from all cohorts above 25 mg by day 14. In the 100 mg BID cohort, MORF-057 saturated the α4β7 receptor (mean RO >99%). Dose-and time-dependent changes in biomarkers including specific α4β7 high expressing immune cell populations were observed, adding to evidence of proof of biology for MORF-057. These changes were consistent with those reported with other integrin inhibitors including the antibody drug vedolizumab which is approved for the treatment of IBD.

    In addition to the phase 1 presentation, John P. Jones, Ph.D., director of clinical pharmacology at Morphic, presented MORF-057 non-clinical pharmacokinetic and metabolism data in poster P037: Nonclinical pharmacokinetics and absorption, distribution, metabolism, and excretion properties of MORF-057 support its clinical development as an oral selective α4β7 integrin inhibitor that is available here. These data provided the basis for phase 1 dose selection. The human PK from the phase 1 trial reported today (P306) surpassed the predictions from animal models reported in poster P037.

    Conference Call and Webcast Information

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

    To participate in the live conference call, please use the following dial-in information:

    US or Canada Toll-Free Dial-In Number: (844) 954-0202

    International Dial-In Number: (661) 407-1533

    Conference ID number: 6443786

    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 injectable 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, substantially reducing lymphocyte migration from the bloodstream into intestinal mucosal tissues and causing inflammation that is associated with IBD.

    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 Morphic Integrin Technology (MInT) Platform which leverages the Company's unique understanding of integrin structure and biology. For more information, visit www.morphictx.com.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: the MInT Platform's ability to discover drug candidates, Morphic's plans to develop and commercialize oral small-molecule integrin therapeutics, the initiation, execution and completion of the future MORF-057 phase 2 clinical trial, any expectations about safety, efficacy, timing and ability to commence or complete clinical studies and/or trials and to obtain regulatory approvals for MORF-057 and other candidates in development, the timing of further data presentation and the ability of MORF-057 to treat inflammatory bowel disease, including ulcerative colitis, or related indications.

    Statements including words such as "believe," "plan," "continue," "expect," "will," "develop," "signal," "potential," "anticipated," 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 in this press release and other risks set forth in our filings with the Securities and Exchange Commission, including Morphic's or a partner's ability to complete a current or future clinical trial of any of our current or future product candidates, develop or obtain regulatory approval for or commercialize any product candidate, Morphic's ability to protect intellectual property, the potential impact of the COVID-19 pandemic and the sufficiency of our cash, cash equivalents and investments to fund our operations. 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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  2. WALTHAM, Mass., July 02, 2021 (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 it will host a webcast and conference call to discuss results from the phase 1 study of MORF-057 following a presentation at the Congress of European Crohn's and Colitis Organisation (ECCO) 2021 Virtual Congress. The webcast and conference call will be held at 8:00 a.m. Eastern Time on July 9, 2021.

    The presentation, titled MORF-057, an oral selective α4β7 integrin inhibitor for Inflammatory Bowel Disease, leads to specific target engagement in a single and multiple ascending dose study in healthy subjects, will…

    WALTHAM, Mass., July 02, 2021 (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 it will host a webcast and conference call to discuss results from the phase 1 study of MORF-057 following a presentation at the Congress of European Crohn's and Colitis Organisation (ECCO) 2021 Virtual Congress. The webcast and conference call will be held at 8:00 a.m. Eastern Time on July 9, 2021.

    The presentation, titled MORF-057, an oral selective α4β7 integrin inhibitor for Inflammatory Bowel Disease, leads to specific target engagement in a single and multiple ascending dose study in healthy subjects, will be given by Adrian S. Ray, Head of Biology and Translation at Morphic in a virtual session at ECCO 2021.

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

    To participate in the live conference call, please use the following dial-in information:

    US or Canada Toll-Free Dial-In Number: (844) 954-0202

    International Dial-In Number: (661) 407-1533

    Conference ID number: 6443786

    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 Morphic Integrin Technology (MInT) 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



    Primary Logo

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  3. Presentation will include summary safety, pharmacokinetic and pharmacodynamic data from single ascending dose (SAD), food effect and multiple ascending dose (MAD) studies

    All dosing regimens well-tolerated across Phase 1

    High receptor occupancy (RO) in Phase 1 SAD study confirmed by MAD results with increasing RO over time: receptor saturation at 100 mg BID dose

    WALTHAM, Mass., May 28, 2021 (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 that new Phase 1 data for MORF-057 will be presented in an ePoster at the Congress of European Crohn's and Colitis Organisation (ECCO) 2021 Virtual Congress…

    Presentation will include summary safety, pharmacokinetic and pharmacodynamic data from single ascending dose (SAD), food effect and multiple ascending dose (MAD) studies

    All dosing regimens well-tolerated across Phase 1

    High receptor occupancy (RO) in Phase 1 SAD study confirmed by MAD results with increasing RO over time: receptor saturation at 100 mg BID dose

    WALTHAM, Mass., May 28, 2021 (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 that new Phase 1 data for MORF-057 will be presented in an ePoster at the Congress of European Crohn's and Colitis Organisation (ECCO) 2021 Virtual Congress on July 9, 2021.

    The abstract for this e-presentation is now available on the ECCO website and contains data that provide additional support for the tolerability, pharmacokinetic and pharmacodynamic profile of MORF-057 as a twice-daily oral treatment candidate for inflammatory bowel disease (IBD). The complete ePoster is anticipated to report the full Phase 1 results, including data from an additional dose cohort from the MAD study and further pharmacokinetic (PK) endpoint data from a food effect study that were ongoing at the time of abstract submission.

    "These data confirm the tolerability and pharmacodynamic profile that was reported with the initial MORF-057 SAD data. In these results, we observed α4β7 RO levels that exceeded our expectations across a range of doses, each of which was well tolerated," said Peter Linde, M.D., chief medical officer at Morphic Therapeutic. "We are incredibly excited about the results from this Phase 1 study that strongly support our upcoming Phase 2 ulcerative colitis program."

    Data contained in the abstract demonstrate that single and multiple ascending doses of MORF-057 were well tolerated, with only mild, non-serious adverse events observed. MORF-057 also demonstrated a favorable PK profile with systemic exposure that was predictable and generally proportional to dose. In addition, these MORF-057 clinical data are consistent with non-clinical drug metabolism and PK (DMPK) profiling which will also be presented in a separate poster at the ECCO'21 Virtual Congress.

    High levels of target engagement of the α4β7 integrin receptor were observed in the Phase 1 MORF-057 SAD study. As previously reported, the mean α4β7 RO's for the 100 mg, 150 mg and 400 mg SAD cohorts were greater than 95%. These observations were confirmed in the MAD study, with increasing RO levels at steady state in all doses tested. Increased duration of dosing demonstrated increasing mean RO and decreasing inter-subject RO variability. In these new data, results from two of the three MAD cohorts were available at the time of abstract publication. The mean α4β7 RO for the 50 mg cohort receiving twice-daily (BID) administration of MORF-057 for 14 days was greater than 90% at steady state. The mean α4β7 RO in the 100 mg BID cohort at steady state was greater than 99%, or complete receptor saturation.

    MORF-057 Abstracts at ECCO'21 Virtual Congress

    The full title of the MORF-057 Phase 1 ePoster (P306) is: MORF-057, an oral selective α4β7 integrin inhibitor for Inflammatory Bowel Disease, leads to specific target engagement in a single and multiple ascending dose study in healthy subjects

    The full title of the MORF-057 non-clinical DMPK ePoster (P037) is: Nonclinical pharmacokinetics and absorption, distribution, metabolism, and excretion properties of MORF-057 support its clinical development as an oral selective α4β7 integrin inhibitor

    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 injectable 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, substantially reducing lymphocyte migration from the bloodstream into intestinal mucosal tissues and causing inflammation that is associated with IBD.

    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 Morphic Integrin Technology (MInT) Platform which leverages the Company's unique understanding of integrin structure and biology. For more information, visit www.morphictx.com.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: the MInT Platform's ability to discover drug candidates, Morphic's plans to develop and commercialize oral small-molecule integrin therapeutics, the execution and completion of the MORF-057 Phase 1 clinical trial as designed, any expectations about safety, efficacy, timing and ability to commence or complete clinical studies and to obtain regulatory approvals for MORF-057 and other candidates in development, the timing of further data presentation and the ability of MORF-057 to treat inflammatory bowel disease or related indications.

    Statements including words such as "believe," "plan," "continue," "expect," "will," "develop," "signal," "potential," "anticipated," 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 in this press release and other risks set forth in our filings with the Securities and Exchange Commission, including Morphic's or a partner's ability to complete a current or future clinical trial of any of our current or future product candidates, develop or obtain regulatory approval for or commercialize any product candidate, Morphic's ability to protect intellectual property, the potential impact of the COVID-19 pandemic and the sufficiency of our cash, cash equivalents and investments to fund our operations. 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. WALTHAM, Mass., May 28, 2021 (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 that members of the Morphic leadership team are scheduled to present at the Jefferies Virtual Healthcare Conference on June 4, 2021 at 9:00 AM ET.

    A live webcast of the presentation and Q&A will be available on the Investor section of Morphic's website at 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…

    WALTHAM, Mass., May 28, 2021 (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 that members of the Morphic leadership team are scheduled to present at the Jefferies Virtual Healthcare Conference on June 4, 2021 at 9:00 AM ET.

    A live webcast of the presentation and Q&A will be available on the Investor section of Morphic's website at 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



    Primary Logo

    View Full Article Hide Full Article
  5. Expanded research and development collaboration with Janssen for third integrin program

    Announced positive preliminary results from Phase 1 SAD clinical trial of MORF-057

    Received acceptance to present full MORF-057 Phase 1 data set at the ECCO'21 Virtual Congress in July

    Completed $245 million upsized public offering of stock

    Presented positive preclinical data from αvβ8 program at AACR Annual Meeting demonstrating anti-tumor activity in checkpoint refractory cancer models

    WALTHAM, Mass., April 29, 2021 (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 financial…

    Expanded research and development collaboration with Janssen for third integrin program

    Announced positive preliminary results from Phase 1 SAD clinical trial of MORF-057

    Received acceptance to present full MORF-057 Phase 1 data set at the ECCO'21 Virtual Congress in July

    Completed $245 million upsized public offering of stock

    Presented positive preclinical data from αvβ8 program at AACR Annual Meeting demonstrating anti-tumor activity in checkpoint refractory cancer models

    WALTHAM, Mass., April 29, 2021 (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 financial results for the first quarter of 2021.

    Recent Highlights and Outlook

    • Expanded research and development collaboration with Janssen Pharmaceuticals for a third program, focused on activating antibodies against a new integrin target
    • Announced positive preliminary results from Phase 1 single ascending dose portion of MORF-057 Phase 1 providing early clinical proof of concept for MORF-057 as an oral, selective α4β7 inhibitor
      • MORF-057 was well tolerated in all dose cohorts
      • MORF-057 achieved greater than 95% mean receptor occupancy of α4β7 integrin at three highest dose levels
      • Observed saturating levels of >99% RO in subjects in each cohort above 25mg
      • Morphic received an acceptance for its submission to present the complete MORF-057 Phase 1 data set at the ECCO'21 Virtual Congress in July 2021. This presentation will include additional data from the Phase 1 SAD study as well as results from the ongoing Phase 1 multiple ascending dose and food effect studies
    • Completed $245 million upsized public offering of stock providing runway until the end of 2024
    • Presented positive preclinical data from the αvβ8 immuno-oncology program demonstrating that Morphic's small molecule inhibitors, in combination with checkpoint inhibitors, potentiated anti-tumor activity in tumors refractory to checkpoint inhibition monotherapy

    "Morphic has made great strides in our mission to develop oral integrin medicines based on the MInT platform thus far in 2021. We made noteworthy advances across our proprietary and partnered integrin development programs as well as in the operational aspects of our business, including expanded partnerships and the presentation of new data from emerging programs in our early integrin pipeline," commented Praveen Tipirneni, M.D., president and chief executive officer of Morphic Therapeutic. "Most importantly, we provided proof-of-concept data for MORF-057 in IBD with a favorable tolerability profile and excellent pharmacodynamic data. Finally, based on our recent fundraising, Morphic has a strong cash position as we approach additional MORF-057 data this year and then continue to advance our integrin-targeted therapeutic candidates created with the MInT platform."

    Financial Results for the First Quarter 2021

    • Net loss for the quarter ended March 31, 2021 was $21.3 million or $0.63 per share compared to a net loss of $16.7 million or $0.55 per share for the same quarter last year.
    • Revenue was $3.3 million for the quarter ended March 31, 2021 compared to $5.6 million for the same quarter last year.
    • Research and development expenses were $18.6 million for the quarter ended March 31, 2021 as compared to $19.0 million for the same quarter last year. The slight decrease was due to AbbVie's option exercise for αvβ6 program in 2020 resulting in lower costs in 2021 offset with higher costs associated with Morphic's wholly-owned α4β7 program.
    • General and administrative expenses were $6.0 million for the quarter ended March 31, 2021, compared to $4.4 million for the same quarter last year. The increase was primarily attributable to increased headcount and higher professional and consulting costs associated with Morphic operating as a public company.

    As of March 31, 2021, Morphic had cash, cash equivalents and marketable securities of $448.3 million, compared to $228.3 million as of December 31, 2020. The increase was primarily due to the closing of the public offering of common stock in March. Morphic believes its cash, cash equivalents and marketable securities as of March 31, 2021, will be sufficient to fund operating expenses and capital expenditure requirements until the end of 2024.

    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 Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to: Morphic's or our partners' plans or ability to develop, obtain approval for any indication or disease and/or commercialize any oral small-molecule integrin therapeutics, including MORF-057, MORF-720, MORF-627, and any other candidates in development, the ability of MORF-057 to treat inflammatory bowel disease, the ability of MORF-720 and MORF-627 to treat idiopathic pulmonary fibrosis as well as other fibrotic diseases, 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," "anticipate" 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. We urge you to consider those factors, and the other risks and uncertainties described in our most recent annual report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequent quarterly reports on Form 10-Q as well as in other documents that may be subsequently filed by Morphic from time to time with the SEC, in evaluating our forward-looking statements. 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.



    FINANCIAL TABLES TO FOLLOW

    Morphic Holding Inc.

    Condensed Consolidated Statements of Operations

    (unaudited)

    (in thousands, except share and per share data)

     Three Months Ended

    March 31,
     2021 2020
        
    Collaboration revenue$3,265  $5,594 
    Operating expenses:   
    Research and development18,613  18,960 
    General and administrative5,953  4,423 
    Total operating expenses24,566  23,383 
    Loss from operations(21,301) (17,789)
    Other income, net17  886 
    Total other income17  886 
    Loss before benefit from income taxes(21,284) (16,903)
    Benefit from income taxes  157 
    Net loss$(21,284) $(16,746)
    Net loss per share, basic and diluted$(0.63) $(0.55)
    Weighted-average common shares outstanding - basic and diluted33,532,405  30,188,575 



    Morphic Holding Inc.

    Condensed Consolidated Balance Sheets 

    (unaudited)

    (in thousands)

     March 31, 2021 December 31, 2020
    Assets   
    Cash, cash equivalents and marketable securities$448,324  $228,264 
    Other current assets8,527  11,171 
    Total current assets456,851  239,435 
    Other assets2,715  2,947 
    Total assets$459,566  $242,382 
        
    Liabilities and Stockholders' Equity   
    Current liabilities$34,070  $39,438 
    Long-term liabilities56,604  57,747 
    Total liabilities90,674  97,185 
    Total stockholders' equity368,892  145,197 
    Total liabilities and stockholders' equity$459,566  $242,382 

    Contacts

    Morphic Therapeutic

    Chris Erdman



    617.686.1718

    Media Contact

    Tom Donovan, Ten Bridge Communications



    857.559.3397



    Primary Logo

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