Morphic Q1 net loss $45.3M ($0.91/sh); EMERALD-2 enrollment on track; CMO appointed

Morphic Holding, Inc.

2024-Q1 EPS reported -$0.91

Net loss of $45.3M ($0.91/sh) vs. $36.1M ($0.90/sh) in Q1 2023; R&D expense $42.4M (up 39%).
Cash, equivalents, and marketable securities $658.8M; cash runway into H2 2027.
EMERALD-2 Phase 2b trial in UC enrollment on track; primary endpoint readout expected H1 2025.
First patient dosing in GARNET Phase 2 Crohn's study expected Q2 2024.
Appointed Dr. Simon Cooper as CMO; he previously developed risankizumab at AbbVie for UC and CD.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Morphic Holding, Inc. reported the first quarter 2024 results: net income Net loss for the quarter ended March 31, 2024, was $45.3 million or $0.91 per share, EPS $0.91 per share.

Period: the first quarter 2024
Net income: Net loss for the quarter ended March 31, 2024, was $45.3 million or $0.91 per share
EPS: $0.91 per share
Result: reported results

Exact text from the filing

Net loss for the quarter ended March 31, 2024, was $45.3 million or $0.91 per share compared to net loss of $36.1 million or $0.90 per share for the same quarter last year

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Source: SEC EDGAR

accession 0001679363-24-000029

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