Morphic Holding, Inc.
morphictx.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Jul 25, 2024. Its latest SEC filing is a SC 13G/A from Nov 14, 2024.
10-Q for Q2 FY2024, filed Jul 25, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Develops oral medicines that target integrins for people with inflammatory bowel disease and other serious chronic diseases.
10-K for FY2023, filed Feb 22, 2024
How Did They Make Money?
Historically, pharmaceutical partners paid Morphic through collaborations: upfront fees and research funding, payments when development or regulatory milestones were reached, and royalties tied to product sales. The agreements that generated revenue had ended by the annual report.
10-K for FY2020, filed Mar 1, 2021 10-K for FY2023, filed Feb 22, 2024To date all revenue has been generated from the Company’s agreements with AbbVie Biotechnology Ltd (“AbbVie”), executed in October 2018 and…View ↗
$521K
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10-K for FY2023, filed Feb 22, 2024
$521K ↗
Who Were Their Customers?
Morphic’s collaboration partners were pharmaceutical companies AbbVie and Janssen; they worked with Morphic on drug-development programs.
10-K for FY2023, filed Feb 22, 2024 10-K for FY2020, filed Mar 1, 2021To date all revenue has been generated from the Company’s agreements with AbbVie Biotechnology Ltd (“AbbVie”), executed in October 2018 and…View ↗
Based on the broad therapeutic potential of integrin inhibition and activation and the productivity of our MInT Platform, we have made the…View ↗
Did Revenues Turn Into Profits?
No. It lost $152.1M in FY2023.
10-K for FY2023, filed Feb 22, 2024
−$178.7MView ↗
10-K for FY2023, filed Feb 22, 2024
−$152.1MView ↗
10-K for FY2023, filed Feb 22, 2024
−$113.6MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2024, filed Jul 25, 2024
−$57.6MView ↗
- ▲ +48% (Loss)
- vs −$39M in Q2 FY2023
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Aug 16, 2024
Morphic’s merger closed and control changed
Morphic became a wholly owned subsidiary of the buyer and asked Nasdaq to suspend trading and delist its shares.
Sources
8-K, filed Aug 16, 2024
As a result of the consummation of the Offer and the consummation of the Merger in accordance with Section 251(h) of the DGCL on August 16…View ↗
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Jul 8, 2024
Eli Lilly agreed to acquire Morphic for cash
The deal called for a tender offer followed by a merger, subject to closing conditions.
Sources
8-K, filed Jul 8, 2024
On July 7, 2024, Eli Lilly and Company, an Indiana corporation (“Parent”), Rainier Acquisition Corporation, a Delaware corporation and a…View ↗
Shrank. Revenue fell 97% in 4 years, from $17M in FY2019 to $521K in FY2023, about 58% a year.
Added non-integrin drug research
The older report centered its discovery pipeline on integrin programs and collaborations with AbbVie and Janssen; the latest report adds research on non-integrin inflammation and immunology targets alongside its integrin work.
10-K for FY2020, filed Mar 1, 2021 10-K for FY2023, filed Feb 22, 2024Based on the broad therapeutic potential of integrin inhibition and activation and the productivity of our MInT Platform, we have made the…View ↗
With our internal proven capabilities in structural biology, medicinal chemistry and screening, the Schrödinger platform accelerates our…View ↗
Who Did They Compete With?
Competes with Takeda, AbbVie, Johnson & Johnson, UCB, Biogen, Pfizer, Eli Lilly, Bristol-Myers Squibb, Gilead Sciences, EA Pharma, Merck, Roche, Sanofi, Teva, MorphoSys, Incyte, Geron, Pliant Therapeutics, Corbus Pharmaceuticals, and Scholar Rock
10-K for FY2023, filed Feb 22, 2024Despite significant biopharmaceutical industry investment, no oral integrin therapies have been approved in the United States or Europe. We…View ↗
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