Morphic reports 2022 EPS ($1.55), consensus ($1.79)

Reports 2022 revenue $70.8M, consensus $67.43M. "Morphic executed well against our corporate objectives in 2022 which has positioned us ideally for a strong 2023, a key year in the clinical development of MORF-057, our oral a4b7 inhibitor in phase 2 studies for UC," commented Praveen Tipirneni, Chief Executive Officer of Morphic. "We are looking forward to the EMERALD-1 readout in the second quarter while advancing our earlier stage pipeline across multiple therapeutic areas including pulmonary hypertensive diseases, myelofibrosis, and beyond."