MorphoSys corrects number of outstanding shares following PIPE

By Sheri Kasprzak

New York, April 4 - MorphoSys AG corrected the number of outstanding shares it has following its previously announced €17,103,041 private placement.

The company actually has 6,618,761 outstanding shares after the offering, increased from 6,234,423 before the deal.

MorphoSys had previously announced that the number of outstanding shares was 6,639,618, increased from 6,234,423.

As already announced, a group of institutional investors bought 384,338 shares at €44.50 each in the placement.

Proceeds will be used for the expansion of the company's antibody business.

Based in Munich, MorphoSys develops synthetic antibodies used to accelerate drug discovery and target characterization.

On Tuesday, the stock lost €0.88 to close at €46.62 (Frankfurt: MOR).

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