German-biotech MorphoSys announced this week that it would be stopping all operations on its pre-clinical research programs.
In an attempt to restructure its resources, the company will also be reducing its workforce by approximately 17%, in order attempt to refocus on its mid- to late-state oncology pipeline.
Currently, the company’s oncology portfolio includes three phase 3 trials. In the recent announcement, MorphoSys’ CEO Jean-Paul Kress said that the company is focusing mostly on its Manifest-2 study, which is currently examining their drug, pelabresib, for first in line treatment of myelofibrosis. The uncommon type of bone marrow cancer affects 1 in 100,000 in the U.S. every year. In its Manifest-2 study, the company’s primary endpoint is to demonstrate a 35% or greater reduction in spleen volume from baseline at 24 weeks.
MorphoSys initially grew its business through research partnerships with big names in pharma such as Bayer, Novartis, Janssen, Schering-Plough, Pfizer and Merck.