Why MorphoSys (MOR) Shares Are Trading Lower Today - Roche Holding (OTC:RHHBY), Roche Holding (OTC:RHHBF), Roche Holding (OTC:RHHVF)

MorphoSys AG's MOR partner Roche Holdings AG RHHBY announced results from the GRADUATE I and II studies evaluating gantenerumab in mild cognitive impairment (MCI) due to Alzheimer's and mild Alzheimer's dementia.
The studies did not meet their primary endpoint of slowing clinical decline.
Gantenerumab was well tolerated, including the subcutaneous administration.
The level of beta-amyloid removal, the protein that builds up to make plaques in the brains of people with Alzheimer's disease, was lower than expected.
Gantenerumab showed a slowing of clinical decline in GRADUATE I and GRADUATE II of -0.31 and -0.19, respectively, from baseline. However, neither was statistically significant.
This represents a relative reduction in the clinical decline of 8% in GRADUATE I and 6% in GRADUATE II compared with placebo.
The GRADUATE Phase 3 program evaluated gantenerumab over 27 months in over 1,900 participants.
In July, Roche's other Alzheimer's medicine, crenezumab did not slow or prevent cognitive decline in people with a specific genetic mutation that causes early-onset disease.
In September 2000, MorphoSys collaborated with Roche.
MorphoSys is entitled to receive tiered royalties, ranging from 5.5% to 7.0%, on net product sales and potential success-based regulatory milestone payments related to gantenerumab.
MorphoSys will retain 40% of future royalties on gantenerumab and pass 60% to Royalty Pharma.
Price Action: MOR shares are down 29.30% at $3.86 during the premarket session on the last check Monday.

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Roche's Another Alzheimer's Hopeful Flops In Phase 3 Program, Second Trial Setback Within Months