Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document and entity information [abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Trading Symbol | MOR |
Entity Registrant Name | MorphoSys AG |
Entity Central Index Key | 0001340243 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Non-accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Common Stock, Shares Outstanding | 31,839,572 |
Consolidated Statement of Profi
Consolidated Statement of Profit or Loss - EUR (€) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Profit or loss [abstract] | ||||
Revenues | € 76,442,505 | € 66,790,840 | € 49,743,515 | |
Operating Expenses | ||||
Cost of Sales | (1,796,629) | 0 | 0 | |
Research and Development | (106,397,017) | (113,313,679) | (93,962,975) | |
Selling | (6,382,510) | (4,816,038) | (2,444,224) | |
General and Administrative | (21,927,731) | (15,717,578) | (13,431,955) | |
Total Operating Expenses | (136,503,887) | (133,847,295) | (109,839,154) | |
Other Income | 1,644,632 | 1,119,598 | 708,571 | |
Other Expenses | (689,343) | (1,670,792) | (553,925) | |
Earnings before Interest and Taxes (EBIT) | (59,106,093) | (67,607,649) | (59,940,993) | |
Finance Income | 417,886 | 712,397 | 1,385,164 | |
Finance Expenses | (753,588) | (1,894,852) | (1,308,322) | |
Impairment Losses on Financial Assets | (1,035,000) | 0 | 0 | |
Income Tax Benefit / (Expenses) | 4,304,674 | (1,036,365) | (518,625) | |
Consolidated Net Loss | [1] | € (56,172,121) | € (69,826,469) | € (60,382,776) |
Earnings per Share, basic and diluted | € (1.79) | € (2.41) | € (2.28) | |
Shares Used in Computing Earnings per Share, basic and diluted | 31,338,948 | 28,947,566 | 26,443,415 | |
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - EUR (€) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Statement of comprehensive income [abstract] | ||||
Consolidated Net Loss | [1] | € (56,172,121) | € (69,826,469) | € (60,382,776) |
Change in Fair Value of Equity Instruments through Other Comprehensive Income | [1],[2] | (127,458) | 0 | 0 |
Foreign Currency Translation Differences from Consolidation | [1],[3] | (83,432) | 0 | 0 |
Change in Unrealized Gains and Losses on Available-for-sale Financial Assets and Bonds (Thereof € 0 for 2018, € 86,685 for 2017 and € 251,455 for 2016, respectively, Reclassifications of realized Gains and Losses to Profit or Loss) | [1] | 0 | 54,170 | 115,396 |
Change of Tax Effects presented in Other Comprehensive Income on Available-for-sale Financial Assets and Bonds | [1] | 0 | 63,659 | (136,550) |
Change in Unrealized Gains and Losses on Available-for-sale Financial Assets and Bonds, Net of Tax Effects | [1] | 0 | 117,829 | (21,154) |
Change in Unrealized Gains and Losses on Cash Flow Hedges (Thereof € 0 for 2018, € 256,085 for 2017 and € 0 for 2016, respectively, Reclassifications of realized Losses to Profit or Loss) | [1] | 0 | (490,164) | 490,164 |
Change of Tax Effects presented in Other Comprehensive Income on Cash Flow Hedges | [1] | 0 | 130,751 | (130,751) |
Change in Unrealized Gains and Losses on Cash Flow Hedges, Net of Tax Effects | [1] | 0 | (359,413) | 359,413 |
Other Comprehensive Income | [1] | (210,890) | (241,584) | 338,259 |
Total Comprehensive Income | [1] | € (56,383,011) | € (70,068,053) | € (60,044,517) |
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. | |||
[2] | Item will not be reclassified in terms of IAS 1.82A(a)(i) to profit or loss in subsequent periods. | |||
[3] | Item will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. |
Consolidated Statement of Com_2
Consolidated Statement of Comprehensive Income (Parenthetical) - EUR (€) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Statement of comprehensive income [abstract] | ||||
Reclassifications of realized Gains and Losses to Profit or Loss | [1] | € 0 | € 86,685 | € 251,455 |
Reclassifications of realized Losses to Profit or Loss | [1] | € 0 | € 256,085 | € 0 |
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. |
Consolidated Balance Sheet
Consolidated Balance Sheet - EUR (€) | Dec. 31, 2018 | Dec. 31, 2017 |
Current Assets | ||
Cash and Cash Equivalents | € 45,459,836 | € 76,589,129 |
Available-for-sale Financial Assets | 0 | 86,538,195 |
Financial Assets classified as Loans and Receivables | 0 | 149,059,254 |
Financial Assets at Fair Value through Profit or Loss | 44,581,264 | 0 |
Other Financial Assets at Amortized Cost | 268,922,724 | 0 |
Accounts Receivable | 17,732,933 | 11,234,308 |
Income Tax Receivables | 161,048 | 654,511 |
Other Receivables | 147,449 | 84,727 |
Inventories, Net | 245,161 | 300,753 |
Prepaid Expenses and Other Current Assets | 11,654,880 | 16,219,761 |
Total Current Assets | 388,905,295 | 340,680,638 |
Non-current Assets | ||
Property, Plant and Equipment, Net | 3,530,709 | 3,526,351 |
Patents, Net | 3,938,739 | 4,669,128 |
Licenses, Net | 2,526,829 | 2,999,074 |
In-process R&D Programs | 37,019,370 | 52,158,527 |
Software, Net | 203,807 | 655,399 |
Goodwill | 3,676,233 | 7,364,802 |
Other Financial Assets at Amortized Cost, Net of Current Portion | 95,749,059 | 0 |
Shares at Fair Value through Other Comprehensive Income | 232,000 | 0 |
Prepaid Expenses and Other Assets, Net of Current Portion | 2,981,716 | 3,344,292 |
Total Non-currentAssets | 149,858,462 | 74,717,573 |
Total Assets | 538,763,757 | 415,398,211 |
Current Liabilities | ||
Accounts Payable and Accruals | 44,760,615 | 44,811,718 |
Tax Provisions | 208,034 | 314,944 |
Other Provisions | 160,411 | 1,185,741 |
Current Portion of Contract Liability (2017: Current Portion of Deferred Revenue) | 794,230 | 1,388,638 |
Total Current Liabilities | 45,923,290 | 47,701,041 |
Non-current Liabilities | ||
Other Provisions, Net of Current Portion | 23,166 | 23,166 |
Contract Liability, Net of Current Portion (2017: Deferred Revenue, Net of Current Portion) | 158,024 | 306,385 |
Convertible Bonds due to Related Parties | 71,517 | 87,785 |
Deferred Tax Liability | 3,507,233 | 7,811,258 |
Other Liabilities, Net of Current Portion | 707,893 | 797,537 |
Total Non-currentLiabilities | 4,467,833 | 9,026,131 |
Total Liabilities | 50,391,123 | 56,727,172 |
Stockholders' Equity | ||
Common Stock Ordinary Shares Issued (31,839,572 and 29,420,785 for 2018 and 2017, respectively)Ordinary Shares Outstanding (31,558,536 and 29,101,107 for 2018 and 2017, respectively) | 31,839,572 | 29,420,785 |
Treasury Stock (281,036 and 319,678 shares for 2018 and 2017, respectively), at Cost | (10,398,773) | (11,826,981) |
Additional Paid-inCapital | 619,908,453 | 438,557,856 |
Revaluation Reserve | 0 | (105,483) |
Other Comprehensive Income Reserve | (210,890) | 0 |
Accumulated Deficit | (152,765,728) | (97,375,138) |
Total Stockholders' Equity | 488,372,634 | 358,671,039 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | € 538,763,757 | € 415,398,211 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - shares | Dec. 31, 2018 | Dec. 31, 2017 |
Statement of financial position [abstract] | ||
Ordinary Shares Issued | 31,839,572 | 29,420,785 |
Ordinary Shares Outstanding | 31,558,536 | 29,101,107 |
Treasury Stock shares | 281,036 | 319,678 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - EUR (€) | Total | Treasury shares [member] | Additional paid-in capital [member] | Revaluation reserve [member] | Other Comprehensive Income Reserve [member] | Accumulated Income/(Deficit) [member] | Common stock [member] | ||
Beginning balance at Dec. 31, 2015 | € 362,736,007 | € (15,827,946) | € 319,394,322 | € (202,158) | € 0 | € 32,834,107 | € 26,537,682 | ||
Statement [LineItems] | |||||||||
Beginning balance, shares | 434,670 | 26,537,682 | |||||||
Capital Increase, Net of Issuance Cost | 112,593,220 | € 0 | 109,971,132 | 0 | 0 | 0 | € 2,622,088 | ||
Capital Increase, Net of Issuance Cost, shares | 2,622,088 | ||||||||
Compensation Related to the Grant of Convertible Bonds and Performance Shares | 2,357,418 | € 0 | 2,357,418 | 0 | 0 | 0 | € 0 | ||
Compensation Related to the Grant of Convertible Bonds and Performance Shares, shares | 0 | 0 | |||||||
Repurchase of Treasury Stock, Net of Bank Fees | (2,181,963) | € (2,181,963) | 0 | 0 | 0 | 0 | € 0 | ||
Repurchase of Treasury Stock, Net of Bank Fees, shares | 52,295 | 0 | |||||||
Transfer of Treasury Stock for Long-Term Incentive Program | 0 | € 3,361,697 | (3,361,697) | 0 | 0 | 0 | € 0 | ||
Transfer of Treasury Stock for Long-Term Incentive Program, shares | (90,955) | 0 | |||||||
Change in Fair Value of Equity Instruments through Other Comprehensive Income | [1],[2] | 0 | |||||||
Change in Unrealized Gains and Losses on Available-for-sale Financial Assets and Bonds, Net of Tax Effects | (21,154) | [1] | € 0 | 0 | (21,154) | 0 | 0 | € 0 | |
Foreign Currency Losses from Consolidation | [1],[3] | 0 | |||||||
Change in Unrealized Gains and Losses on Available-for-sale Financial Assets and Bonds, shares | 0 | 0 | |||||||
Change in Unrealized Gains on Cash Flow Hedges, Net of Tax Effects | 359,413 | [1] | € 0 | 0 | 359,413 | 0 | 0 | € 0 | |
Change in Unrealized Gains and Losses on Cash Flow Hedges, Net of Tax Effects, Shares | 0 | 0 | |||||||
Consolidated Net Loss | (60,382,776) | [1] | € 0 | 0 | 0 | 0 | (60,382,776) | € 0 | |
Total Comprehensive Income | (60,044,517) | [1] | 0 | 0 | 338,259 | 0 | (60,382,776) | 0 | |
Ending balance at Dec. 31, 2016 | 415,460,165 | € (14,648,212) | 428,361,175 | 136,101 | 0 | (27,548,669) | € 29,159,770 | ||
Statement [LineItems] | |||||||||
Ending balance, shares | 396,010 | 29,159,770 | |||||||
Beginning balance, shares | 396,010 | 29,159,770 | |||||||
Compensation Related to the Grant of Convertible Bonds and Performance Shares | 4,974,599 | € 0 | 4,974,599 | 0 | 0 | 0 | € 0 | ||
Compensation Related to the Grant of Stock Options, Convertible Bonds and Performance Shares, shares | 0 | 0 | |||||||
Exercise of Convertible Bonds Issued to Related Parties | 8,304,328 | € 0 | 8,043,313 | 0 | 0 | 0 | € 261,015 | ||
Exercise of Convertible Bonds Issued to Related Parties, shares | 0 | 261,015 | |||||||
Transfer of Treasury Stock for Long-Term Incentive Program | 0 | € 2,286,752 | (2,286,752) | 0 | 0 | 0 | € 0 | ||
Transfer of Treasury Stock for Long-Term Incentive Program, shares | (61,871) | 0 | |||||||
Transfer of Treasury Stock to Members of the Management Board 7.4 | 0 | € 534,479 | (534,479) | 0 | 0 | 0 | € 0 | ||
Transfer of Treasury Stock to Members of the Management Board, Shares | (14,461) | 0 | |||||||
Change in Fair Value of Equity Instruments through Other Comprehensive Income | [1],[2] | 0 | |||||||
Change in Unrealized Gains and Losses on Available-for-sale Financial Assets and Bonds, Net of Tax Effects | 117,829 | [1] | € 0 | 0 | 117,829 | 0 | 0 | € 0 | |
Foreign Currency Losses from Consolidation | [1],[3] | 0 | |||||||
Change in Unrealized Gains and Losses on Available-for-sale Financial Assets and Bonds, shares | 0 | 0 | |||||||
Change in Unrealized Gains on Cash Flow Hedges, Net of Tax Effects | (359,413) | [1] | € 0 | 0 | (359,413) | 0 | 0 | € 0 | |
Change in Unrealized Gains and Losses on Cash Flow Hedges, Net of Tax Effects, Shares | 0 | 0 | |||||||
Consolidated Net Loss | (69,826,469) | [1] | € 0 | 0 | 0 | 0 | (69,826,469) | € 0 | |
Total Comprehensive Income | (70,068,053) | [1] | 0 | 0 | (241,584) | 0 | (69,826,469) | 0 | |
Ending balance at Dec. 31, 2017 | 358,671,039 | € (11,826,981) | 438,557,856 | (105,483) | 0 | (97,375,138) | € 29,420,785 | ||
Statement [LineItems] | |||||||||
Ending balance, shares | 319,678 | 29,420,785 | |||||||
Application of IFRS 9 and 15 | IFRS9 [member] | (248,000) | € 0 | 0 | 105,483 | 0 | (353,483) | € 0 | ||
Application of IFRS 9 and 15 | IFRS 15 [member] | 1,135,014 | 0 | 0 | 0 | 0 | 1,135,014 | 0 | ||
Beginning balance at Dec. 31, 2017 | 359,558,053 | € (11,826,981) | 438,557,856 | 0 | 0 | (96,593,607) | € 29,420,785 | ||
Statement [LineItems] | |||||||||
Beginning balance, shares | 319,678 | 29,420,785 | |||||||
Capital Increase, Net of Issuance Cost | 178,575,506 | € 0 | 176,189,256 | 0 | 0 | 0 | € 2,386,250 | ||
Capital Increase, Net of Issuance Cost, shares | 0 | 2,386,250 | |||||||
Compensation Related to the Grant of Convertible Bonds and Performance Shares | 5,584,969 | € 0 | 5,584,969 | 0 | 0 | 0 | € 0 | ||
Compensation Related to the Grant of Convertible Bonds and Performance Shares, shares | 0 | 0 | |||||||
Exercise of Convertible Bonds Issued to Related Parties | 1,037,117 | € 0 | 1,004,580 | 0 | 0 | 0 | € 32,537 | ||
Exercise of Convertible Bonds Issued to Related Parties, shares | 0 | 32,537 | |||||||
Transfer of Treasury Stock for Long-Term Incentive Program | 0 | € 636,414 | (636,414) | 0 | 0 | 0 | € 0 | ||
Transfer of Treasury Stock for Long-Term Incentive Program, shares | (17,219) | 0 | |||||||
Transfer of Treasury Stock to Related Parties | 0 | € 791,794 | (791,794) | 0 | 0 | 0 | € 0 | ||
Transfer of Treasury Stock to Related Parties, shares | (21,423) | 0 | |||||||
Change in Fair Value of Equity Instruments through Other Comprehensive Income | (127,458) | [1],[2] | € 0 | 0 | 0 | (127,458) | 0 | € 0 | |
Change in Unrealized Gains and Losses on Available-for-sale Financial Assets and Bonds, Net of Tax Effects | [1] | 0 | |||||||
Foreign Currency Losses from Consolidation | (83,432) | [1],[3] | 0 | 0 | 0 | (83,432) | 0 | 0 | |
Change in Unrealized Gains on Cash Flow Hedges, Net of Tax Effects | [1] | 0 | |||||||
Consolidated Net Loss | (56,172,121) | [1] | 0 | 0 | 0 | 0 | (56,172,121) | 0 | |
Total Comprehensive Income | (56,383,011) | [1] | 0 | 0 | 0 | (210,890) | (56,172,121) | 0 | |
Ending balance at Dec. 31, 2018 | € 488,372,634 | € 0 | € 0 | € 0 | € (210,890) | € (152,765,728) | € 31,839,572 | ||
Statement [LineItems] | |||||||||
Ending balance, shares | 31,839,572 | ||||||||
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. | ||||||||
[2] | Item will not be reclassified in terms of IAS 1.82A(a)(i) to profit or loss in subsequent periods. | ||||||||
[3] | Item will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2016 | |
Common stock [member] | ||
Statement [LineItems] | ||
Ordinary shares issuance cost | € 15,038,362 | € 2,778,652 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - EUR (€) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Operating Activities: | ||||
Consolidated Net Loss | [1] | € (56,172,121) | € (69,826,469) | € (60,382,776) |
Impairment of Assets | 24,033,479 | 9,863,582 | 10,141,187 | |
Depreciation and Amortization of Tangible and Intangible Assets | 3,750,259 | 4,028,948 | 3,763,813 | |
Net (Gain) / Loss on Sales of Financial Assets at Fair Value through Profit or Loss (2017 and 2016: Available-for-sale Financial Assets) | 1,114,330 | 84,841 | 915,201 | |
Proceeds from Derivative Financial Instruments | (488,201) | (589,134) | 725,157 | |
Net (Gain) / Loss on Derivative Financial Instruments | 121,717 | 919,042 | (29,879) | |
Net (Gain) / Loss on Sale of Property, Plant and Equipment | (24,093) | 11,314 | (4,037) | |
Proceeds from Recognition of previously unrecognized Intangible Assets | (350,000) | 0 | 0 | |
Recognition of Contract Liability (2017 and 2016: Recognition of Deferred Revenue) | (1,993,763) | (19,595,746) | (19,042,772) | |
Share-based Payment | 5,584,969 | 4,974,599 | 2,357,418 | |
Income Tax (Benefit) / Expenses | (4,304,674) | 1,036,365 | 518,625 | |
Accounts Receivable | (6,610,625) | 1,362,347 | (1,154,597) | |
Prepaid Expenses and Other Assets, Tax Receivables and Other Receivables | 545,816 | 1,807,670 | (13,912,263) | |
Accounts Payable and Accruals, Tax Provisions and Other Provisions | 1,890,046 | 7,819,386 | 13,010,160 | |
Other Liabilities | (2,718,825) | 3,133,558 | (421,492) | |
Contract Liability (2017 and 2016: Deferred Revenue) | 2,386,009 | 18,385,824 | 17,440,930 | |
Income Taxes Paid | (33,837) | (1,861,982) | (540,383) | |
Changes in Operating Assets and Liabilities: | ||||
Net Cash Provided by / (Used in) Operating Activities | (33,269,514) | (38,445,855) | (46,615,708) | |
Investing Activities: | ||||
Purchase of Financial Assets at Fair Value through Profit or Loss (2017 and 2016: Available-for-sale Financial Assets) | (84,511,324) | (56,406,580) | (166,923,795) | |
Proceeds from Sales of Financial Assets at Fair Value through Profit or Loss (2017 and 2016: Available-for-sale Financial Assets) | 126,388,925 | 33,231,500 | 167,873,152 | |
Proceeds from Sales of Bonds, Available-for-sale | 0 | 6,500,000 | 25,770,000 | |
Purchase of Other Financial Assets at Amortized Cost (2017 and 2016: Financial Assets Classified as Loans and Receivables) | (366,810,000) | (108,000,000) | (256,499,997) | |
Proceeds from Sales of Other Financial Assets at Amortized Cost (2017 and 2016: Financial Assets Classified as Loans and Receivables) | 149,980,211 | 170,498,593 | 149,894,769 | |
Purchase of Property, Plant and Equipment | (1,820,749) | (1,317,058) | (2,502,286) | |
Proceeds from Disposals of Property, Plant and Equipment | 28,444 | 84 | 5,000 | |
Purchase of Intangible Assets | (644,575) | (11,831,789) | (411,204) | |
Purchase of Financial Assets at Fair Value through Other Comprehensive Income | (9,458) | 0 | 0 | |
Interest Received | 136,124 | 257,752 | 2,008,325 | |
Net Cash Provided by / (Used in) Investing Activities | (177,262,402) | 32,932,502 | (80,786,036) | |
Financing Activities: | ||||
Repurchase of Treasury Stock, Net of Bank Fees | 0 | 0 | (2,181,963) | |
Proceeds of Share Issuance | 193,613,868 | 0 | 115,371,872 | |
Cost of Share Issuance | (15,038,362) | (15,525) | (2,778,652) | |
Proceeds in Connection with Convertible Bonds Granted to Related Parties | 1,020,849 | 8,189,345 | 0 | |
Outflows in Connection with Convertible Bonds Granted to Related Parties | 0 | 0 | (6,707) | |
Interest Paid | (134,269) | 0 | (1,819) | |
Net Cash Provided by / (Used in) Financing Activities | 179,462,086 | 8,173,820 | 110,402,731 | |
Effect of Exchange Rate Differences on Cash | (59,463) | 0 | 0 | |
Increase / (Decrease) in Cash and Cash Equivalents | (31,129,293) | 2,660,467 | (16,999,013) | |
Cash and Cash Equivalents at the Beginning of the Period | 76,589,129 | 73,928,661 | 90,927,673 | |
Cash and Cash Equivalents at the End of the Period | € 45,459,836 | € 76,589,129 | € 73,928,661 | |
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. |
General Information
General Information | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
General Information | 1 General Information BUSINESS ACTIVITIES AND THE COMPANY MorphoSys AG (“the Company” or “MorphoSys”) develops and applies technologies for generating therapeutic antibodies. The Company has a broad proprietary portfolio of compounds and a broad pipeline of compounds developed with partners from the pharmaceutical and biotechnology industry. MorphoSys was founded as a German limited liability company in July 1992. In June 1998, MorphoSys became a German stock corporation. In March 1999, the Company completed its initial public offering on Germany’s “Neuer Markt”: the segment of the Deutsche Börse at that time designated for high-growth companies. On January 15, 2003, MorphoSys AG was admitted to the Prime Standard segment of the Frankfurt Stock Exchange. On April 18, 2018, MorphoSys completed an IPO on the Nasdaq Global Market through the issue of American Depositary Shares (ADS). MorphoSys AG’s registered office is located in Planegg (district of Munich), and the registered business address is Semmelweisstraße 7, 82152 Planegg, Germany. The Company is registered in the Commercial Register B of the District Court of Munich under the number HRB 121023. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Summary of Significant Accounting Policies | 2 Summary of Significant Accounting Policies 2.1 BASIS OF AND CHANGES IN ACCOUNTING STANDARDS 2.1.1 BASIS OF APPLICATION These consolidated financial statements were prepared in accordance with the International Financial Reporting Standards (“IFRS”), taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (IFRS IC). We have applied all standards and interpretations that were in force as of December 31, 2018 and adopted by the European Union (EU). As of December 31, 2018, there were no standards or interpretations that affected our consolidated financial statements for the years ended December 31, 2018 and 2017 that were in effect but not yet endorsed into European law. As a result, our consolidated financial statements comply with both the IFRSs published by the International Accounting Standards Board (IASB) and those adopted by the EU. These consolidated financial statements also take into account the supplementary provisions under commercial law, which must be applied in accordance with Section 315e (1) of the German Commercial Code (Handelsgesetzbuch – HGB). These consolidated financial statements as of December 31, 2018 and 2017 and for each of the years in the three years period ended December 31, 2018, comprise MorphoSys AG and its subsidiaries (collectively referred to as the “MorphoSys Group” or the “Group”). In preparing the consolidated financial statements in accordance with IFRS, the Management Board is required to make certain estimates and assumptions, which have an effect on the amounts recognized in the consolidated financial statements and the accompanying Notes. The actual results may differ from these estimates. The estimates and the underlying assumptions are subject to continuous review. Any changes in estimates are recognized in the period in which the changes are made and in all relevant future periods. The annual financial statements of the foreign Group companies are prepared in their respective functional currencies and converted into the euro prior to their consolidation. The consolidated financial statements were prepared in euros. The financial statements are prepared on the basis of historical cost, with the exception of derivative financial instruments and financial assets at fair value, which are recognized at their respective fair value. All figures in this report have been rounded to the nearest euro, thousand euros or million euros. The line item “cost of sales” in profit or loss was first introduced in the third quarter of 2018 and includes the expenses related to the provision of services for the transfer of projects to customers. The rationale for introducing this item is the generally increasing significance of this item in the course of the Group’s planned business development. In 2017 and 2016, there were no material comparable transactions to be reported under this item. Since January 1, 2018, the Group has reported the line item “selling expenses” separately under “operating expenses” in profit or loss. The reason for introducing this new line item and the concomitant changes to the presentation of existing items is the increasing importance of marketing expenses in connection with the preparations planned for the commercialization of MOR208. To ensure comparability of the information, the previous year’s figures have been adjusted accordingly. The disclosure of selling expenses resulted in a change in the recording of research and development and general and administrative expenses in 2017, which reduced these items in 2017 by € 3.5 million and € 1.3 million and in 2016 by € 1.7 million and € 0.7 million, respectively. The corresponding amounts are now reported in “selling expenses”. Unless stated otherwise, the accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements. 2.1.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES The accounting principles applied generally correspond to the policies used in the prior year. NEW AND REVISED STANDARDS AND INTERPRETATIONS APPLIED FOR THE FIRST TIME IN THE FINANCIAL YEAR Standard / Interpretation Mandatory Adopted by Impact on IFRS 9 Financial Instruments 01/01/2018 yes yes IFRS 15 and IFRS 15 (A) Revenue from Contracts with Customers 01/01/2018 yes yes IFRS 2 (A) Classification and Measurement of Share-based Payment Transactions 01/01/2018 yes yes IFRS 4 (A) Applying IFRS 9 ‘Financial Instruments’ with IFRS 4 ‘Insurance Contracts’ 01/01/2018 yes none IFRS 15 (C) Revenue from Contracts with Customers 01/01/2018 yes yes IAS 40 (A) Transfers of Investment Property 01/01/2018 yes none IFRIC 22 Foreign Currency Transactions and Advance Consideration 01/01/2018 yes none Annual Improvements to IFRS Standards 2014 – 2016 Cycle 01/01/2018 yes none (A) Amendments (C) Clarifications The impact of the amendments to IFRS 2 on the consolidated financial statements is deemed not to be material. IFRS 9 – FINANCIAL INSTRUMENTS As of January 1, 2018, the Group has been applying the new standard for financial instruments, IFRS 9. In this context, the exception granted by IFRS 9 Section 7.2.15 is applied for the transitional provisions for classification and measurement according to which the adjustment of prior year figures is not required. Financial instruments were accounted for in accordance with IAS 39 in fiscal years 2017 and 2016. The Group applied the provisions of IAS 39 on the classification, recognition, measurement and derecognition of financial instruments. As of January 1, 2018, financial instruments, namely money market funds, previously reported in accordance with IAS 39 until December 31, 2017, in the balance sheet item “available-for-sale Financial instruments, namely term deposits with fixed and variable interest rates as well as corporate bonds, previously classified in accordance with IAS 39 as “financial assets classified as loans and receivables” until December 31, 2017, are now presented in the balance sheet item “other financial assets at amortized cost” in accordance with IFRS 9. At the date of initial application the Group’s business model is to hold these financial instruments for collection of contractual cash flows, and the cash flows represent solely payments of principal and interest on the principal amount. in 000’ € Available-for-sale Financial Assets at Financial Assets Other Financial Balance as of December 31, 2017 86,538 0 149,059 0 Reclassifications of “Available-for-sale (86,538 ) 86,538 0 0 Reclassifications of “Financial Assets classified as Loans and Receivables” to “Other Financial Assets at Amortized Cost” 0 0 (149,059 ) 149,059 Impairment 0 0 0 (136 ) Balance as of January 1, 2018 0 86,538 0 148,923 As of January 1, 2018, there was no difference between the previous carrying amounts of financial instruments in accordance with IAS 39 and the carrying amounts in accordance with IFRS 9. As a result, no change in value has been recognized in accumulated deficit as of January 1, 2018. For financial instruments classified as “at amortized cost”, impairment losses for the expected twelve-month loss were recognized in accumulated deficit as of January 1, 2018. For financial instruments previously classified as “available-for-sale in 000’ € Revaluation Accumulated Balance as of December 31, 2017 (105 ) 0 Reclassifications of “Available-for-sale 105 (105 ) Balance as of January 1, 2018 0 (105 ) The group recognized impairments on financial instruments in accordance with the incurred loss model of IAS 39 until December 31, 2017, by recognizing an allowance once objective evidence of impairment occurred. On January 1, 2018, an expected twelve-month loss for financial instruments, namely for the cash and cash equivalents as well as the term deposits, amounting to € 0.1 million, was recognized as strictly required by IFRS 9. All of these debt investments at amortized cost are considered to have a low credit risk, and the risk provision recognized was therefore limited to twelve-month expected losses. For accounts receivable, the simplified impairment model was applied, which requires expected lifetime losses to be recognized. This resulted in a risk provision of € 0.1 million as of January 1, 2018. Impairment General Simplified Impairment Accumulated in 000’ € Stage 1 Stage 2 Stage 3 Stage 2 Stage 3 Balance as of December 31, 2017 0 0 0 0 0 0 0 Other Financial Assets at Amortized Cost 0 (136 ) 0 0 0 0 (136 ) Accounts Receivable 0 0 0 0 (112 ) 0 (112 ) Balance as of January 1, 2018 0 (136 ) 0 0 (112 ) 0 (248 ) MorphoSys did not apply hedge accounting under IAS 39 as of December 31, 2017, nor during the year 2018, therefore the first time application of IFRS 9 has no impact on the accounting of hedging relationships. IFRS 15 – REVENUE FROM CONTRACTS WITH CUSTOMERS Since January 1, 2018, the Group has been applying IFRS 15, the new accounting standard governing revenue recognition, using the modified retrospective method. Using this method requires that the cumulative effects of the first adoption of IFRS 15 to be recognized in accumulated deficit as of January 1, 2018 without an adjustment of previous periods. Hence, deferred revenue and accumulated deficit each decreased by € 1.1 million. This effect resulted from license payments which, under IFRS 15, are to be realized at a specific point in time rather than over a period of time, as was the case under IAS 18. in 000’ € Current Portion of Contract Liability, Accumulated Deficit Balance as of December 31, 2017 1,389 306 0 Application of IFRS 15 (1,041 ) (94 ) 1,135 Balance as of January 1, 2018 348 212 1,135 Had revenues in the 2018 financial year continued to be recognized in accordance with IAS 18, revenues would have been € 1.1 million higher. This reflects the aforementioned effect as of January 1, 2018, which would have been fully realized as revenue until December 31, 2018, without the application of the new IFRS 15 standard. For the revenue realized under IFRS 15 in the 2018 financial year, the accounting under IAS 18 would have resulted in revenue recognition in the same amount and at the same point in time. Accounting principles for accounts receivable assets are presented in Items 2.4.2, 2.5.1 and 2.8.2 of these Notes. As of January 1, 2018, contract liabilities as defined by IFRS 15 rather than deferred revenue were recorded in the consolidated balance sheet. The accounting policies that apply to contract liabilities are presented in Items 2.9.3 and 2.9.4 of the Notes. NEW AND REVISED STANDARDS AND INTERPRETATIONS THAT WERE NOT YET MANDATORY The following new and revised standards and interpretations that were not yet mandatory for the financial year or were not yet adopted by the European Union were not applied. Standards with the remark “yes” are likely to have an impact on the consolidated financial statements, and their impact is currently being assessed by the Group. Only those standards having a material impact are described in more detail. The impact on the consolidated financial statements of the amendments to IAS 1 and IAS 8 is not expected to be material and therefore these are not explained separately. Standards with the remark “none” are unlikely to have a material impact on the consolidated financial statements. Standard / Interpretation Mandatory Adopted by the Possible Impact IFRS 3 (A) Business Combinations 01/01/2020 no none IFRS 16 Leases 01/01/2019 yes yes IFRS 17 Insurance Contracts 01/01/2021 no none IFRS 9 (A) Prepayment Features with Negative Compensation 01/01/2019 yes none IAS 1 und IAS 8 (A) Definition of Material 01/01/2020 no yes IAS 19 (A) Plan Amendment, Curtailment or Settlement 01/01/2019 no none IAS 28 (A) Long-term Interests in Associates and Joint Ventures 01/01/2019 yes none IFRIC 23 Uncertainty over Income Tax Treatments 01/01/2019 yes none Amendments to References to the Conceptual Framework in IFRS Standards 01/01/2020 no none Annual Improvements to IFRS Standards 2015 – 2017 Cycle 01/01/2019 no none (A) Amendments IFRS 16 – LEASES As of January 1, 2019, the new IFRS 16 standard for leases, replaces the previous IAS 17 standard for leases, including the related interpretations (IFRIC 4, SIC-15, SIC-27). The Group reviewed IFRS 16 for its potential impact on existing lease contracts and will apply the standard for the first time as of the date of its mandatory adoption on January 1, 2019, using the modified retrospective method. The Group will not retroactively adjust comparative amounts for the year prior to first-time adoption and will recognize right-of-use For lessees, IFRS 16 introduces a uniform approach to the accounting treatment of leases, whereby assets for the right of use and liabilities for the payment obligations must be recognized in the balance sheet for all leases. The right of use is initially measured at the present value of the future lease payments plus the initial direct costs and subsequently amortized over the term of the lease. The lease liability is the present value of the lease payments that are paid during the term of the lease. For subsequent measurement, the carrying amount of the lease liabilities is compounded with the interest rate or the incremental borrowing rate underlying the lease and reduced by lease payments made. For low value lease assets or short-term leases (less than twelve months), the simplified method is applied. Under this method, the lease payments are recognized as expenses over the term of the lease. The analysis of the first-time application of IFRS 16 has shown that, as of January 1, 2019, the conversion is expected to result in the recognition of rights of us right-of-use non-current right-of-use non-current right-of-use The lease expenses currently recognized in the statement of income will be replaced by depreciation on assets and interest expenses from the compounding of lease liabilities. This means that the related costs will be presented in different line items in the statement of income and may differ in their total amount compared to the application of IAS 17. The first-time application of IFRS 16 is not expected to have a material impact on Group EBIT. Payments for the repayment of lease liabilities and payments relating to the interest portion of the lease liability will be allocated to cash flow from financing activities. 2.2 CONSOLIDATION PRINCIPLES Intercompany balances and transactions and any unrealized gains arising from intercompany transactions are eliminated when preparing consolidated financial statements pursuant to IFRS 10.B86. Unrealized losses are eliminated in the same manner as unrealized gains. Accounting policies have been applied consistently for all subsidiaries. For all contracts and business transactions between Group entities, the arm’s length principle was applied. 2.2.1 CONSOLIDATED COMPANIES AND SCOPE OF CONSOLIDATION MorphoSys AG, as the ultimate parent company, is located in Planegg, near Munich. MorphoSys AG has two wholly owned subsidiaries (collectively referred to as the “MorphoSys Group” or the “Group”): MorphoSys US Inc. (Princeton, New Jersey) and Lanthio Pharma B.V. (Groningen, The Netherlands). Additionally, MorphoSys AG’s investment in Lanthio Pharma B.V. indirectly gives it 100% ownership in LanthioPep B.V. (Groningen, The Netherlands). On July 2, 2018, MorphoSys AG established the wholly owned subsidiary, MorphoSys US Inc., under Section 102 of the General Corporation Law of the State of Delaware. Since its foundation, the company has been fully included in the MorphoSys AG scope of consolidation. Upon entry into the commercial register on June 28, 2018, and based on the merger agreement dated May 17, 2018, Sloning BioTechnology GmbH, as the transferring legal entity, was merged into MorphoSys AG, as the acquiring legal entity, with retroactive effect from January 1, 2018. The consolidated financial statements for the year ended December 31, 2018, were prepared and approved by the Management Board in its meeting on March 13, 2019, by means of a resolution. The Management Board members are Dr. Simon Moroney (Chief Executive Officer), Jens Holstein (Chief Financial Officer), Dr. Markus Enzelberger (Chief Scientific Officer) and Dr. Malte Peters (Chief Development Officer). On March 13, 2019, the Management Board authorized the consolidated financial statements for issue and passed it through to the Supervisory Board for review and authorization. 2.2.2 CONSOLIDATION METHODS The following Group subsidiaries are included in the scope of consolidation as shown in the table below. Company Purchase of Included in Lanthio Pharma B.V. May 2015 05/07/2015 LanthioPep B.V. May 2015 05/07/2015 MorphoSys US Inc. July 2018 07/02/2018 These subsidiaries are fully consolidated because they are either directly or indirectly wholly owned. MorphoSys controls these subsidiaries because it possesses full power over the investees. Additionally, MorphoSys is subject to risk exposure and has rights to variable returns from its involvement with the investees. MorphoSys also has unlimited capacity to exert power over the investees to influence their returns. The Group does not have any entities consolidated as joint ventures using the equity method as defined by IFRS 11 “Joint Arrangements”, nor does it exercise a controlling influence as defined by IAS 28 “Investments in Associates and Joint Ventures”. Assets and liabilities of fully consolidated domestic and international entities are recognized using Group-wide uniform accounting and valuation methods. The consolidation methods applied have not changed from the previous year. Receivables, liabilities, expenses and income among consolidated entities are eliminated in the consolidated financial statements. 2.2.3 BASIS OF FOREIGN CURRENCY TRANSLATION IAS 21 “The Effects of Changes in Foreign Exchange Rates” governs the accounting for transactions and balances denominated in foreign currencies. Transactions denominated in foreign currencies are translated at the exchange rates prevailing on the date of the transaction. Any resulting translation differences are recognized in profit or loss. On the reporting date, assets and liabilities are translated at the closing rate for the financial year. Any foreign exchange rate differences derived from these translations are recognized in profit or loss. Any other foreign exchange rate differences at the group level are recognized in the “Other Comprehensive Income Reserve” (stockholders’ equity). 2.3 FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT 2.3.1 CREDIT RISK AND LIQUIDITY RISK Financial instruments in which the Group may have a concentration of credit and liquidity risk are mainly cash and cash equivalents, financial assets at fair value, with changes recognized in profit or loss, other financial assets at amortized cost, derivative financial instruments and receivables. The Group’s cash and cash equivalents are mainly denominated in euros. Financial assets at fair value, with changes recognized in profit or loss and other financial assets at amortized cost are high-quality assets. Cash, cash equivalents, financial assets at fair value, with changes recognized in profit or loss and other financial assets at amortized cost are generally held at numerous reputable financial institutions. With respect to its investments, the Group continuously monitors the financial institutions that are its counterparties to the financial instruments, as well as their creditworthiness, and does not anticipate any risk of non-performance. The changes in impairment losses for credit risks required to be recognized under IFRS 9 on the financial year’s profit or loss in the line item “impairment losses on financial assets” (see Item 2.4 of the Notes) were as follows. Negative values represent additions and positive values represent reversals of this risk provision. No utilization of impairments was recognized in 2018. The increase of this risk provision resulted from a higher volume of financial assets at amortized cost due to the cash raised in connection with the IPO on the Nasdaq and higher premiums on counterparties’ credit default swaps compared with January 1, 2018. General Impairment Model Simplified Impairment Model Total in 000’ € Stage 1 Stage 2 Stage 3 Stage 2 Stage 3 Balance as of January 1, 2018 (136 ) 0 0 (112 ) 0 (248 ) Unused Amounts Reversed 0 0 0 112 0 112 Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year (570 ) (465 ) 0 (90 ) 0 (1,125 ) Change between Impairment Stages 41 (41 ) 0 0 0 0 Amounts written off during the Year as uncollectible 0 0 0 0 0 0 Balance as of December 31, 2018 (665 ) (506 ) 0 (90 ) 0 (1,261 ) The Group recognizes impairment losses for credit risks on financial assets as of December 31, 2018 as follows. Balance Sheet Item Internal Basis for Gross Carrying Impairment Carrying Average Cash and Cash Equivalents low Expected Twelve-Month Loss 43,165 (16 ) 43,149 0.0 % Other Financial Assets at Amortized Cost low Expected Twelve-Month Loss 275,805 (649 ) 275,156 0.2 % medium Lifetime Expected Credit Losses 93,102 (506 ) 92,596 0.5 % Accounts Receivable low Lifetime Expected Credit Losses 17,823 (90 ) 17,733 0.5 % The Group is also exposed to credit risk from debt instruments that are measured at fair value in profit or loss. As of December 31, 2018, the maximum credit risk corresponded to the carrying amounts of these investments amounting to € 44.6 million. One of the Group’s policies requires that all customers who wish to transact business on credit undergo a credit assessment based on external ratings. Nevertheless, the Group’s revenue and accounts receivable are still subject to credit risk from customer concentration. The Group’s most significant single customer accounted for € 5.9 million of accounts receivables as of December 31, 2018 (December 31, 2017: € 5.1 million) or 33% of the Group’s total accounts receivable at the end of 2018. The Group’s top three single customers accounted for of 65%, 25% and 5% of the total revenue in 2018. On December 31, 2017, one customer had accounted for 45% of the Group’s accounts receivable, and the top three customers had individually accounted for 55%, 25% and 10% of the Group’s revenue in 2017. In 2016, the top three customers had individually accounted for 85%, 5% and 5% of the Group’s revenue. The carrying amounts of financial assets represented the maximum credit risk. The table below shows accounts receivables by region as of the reporting date. in € 12/31/2018 12/31/2017 Europe and Asia 13,176,523 8,838,884 USA and Canada 4,646,410 2,395,424 Other 0 0 Impairment (90,000 ) 0 Total 17,732,933 11,234,308 The following table shows the aging of accounts receivable as of the reporting date. The loss rate for accounts receivable is valued at 0.5% as of December 31, 2018. 12/31/2018 12/31/2018 12/31/2018 12/31/2018 in €; due since 0 - 30 days 30 - 60 days 60 + days Total Accounts Receivable 17,822,933 0 0 17,822,933 Impairment (90,000 ) 0 0 (90,000 ) Accounts Receivable, Net of Allowance for Impairment 17,732,933 0 0 17,732,933 12/31/2017 12/31/2017 12/31/2017 12/31/2017 in €; due since 0 - 30 days 30 - 60 days 60 + days Total Accounts Receivable 11,234,308 0 0 11,234,308 Write-off 0 0 0 0 Accounts Receivable, Net of Allowance for Impairment 11,234,308 0 0 11,234,308 On December 31, 2018 and December 31, 2017, the Group’s exposure to credit risk from derivative financial instruments was assessed as low. The maximum credit risk (is equal to carrying amount) for rent deposits on the reporting date amounted to € 0.7 million (December 31, 2017: € 1.1 million). The following table shows the maturities of accounts payable as of the reporting date. 12/31/2018 12/31/2018 12/31/2018 in €; due in Between One and More than 12 Total Trade Accounts Payable 7,215,127 0 7,215,127 Convertible Bonds due to Related Parties 71,517 0 71,517 12/31/2017 12/31/2017 12/31/2017 in €; due in Between One and More than 12 Total Trade Accounts Payable 4,621,918 0 4,621,918 Convertible Bonds due to Related Parties 87,785 0 87,785 Financial assets and financial liabilities were not netted as of December 31, 2018. There is no current legal right to offset amounts recognized against each other, to settle on a net basis or to settle an associated liability simultaneously with the realisation of an asset. There were no financial instruments pledged as collateral as of December 31, 2018. Under existing framework netting agreements, there was no netting potential as of December 31, 2018. 2.3.2 MARKET RISK Market risk represents the risk that changes in market prices, such as foreign exchange rates, interest rates or equity prices, will affect the Group’s results of operations or the value of the financial instruments held. The Group is exposed to both currency and interest rate risks. CURRENCY RISK The consolidated financial statements are prepared in euros. Whereas MorphoSys’s expenses are predominantly incurred in euros, a portion of the revenue is dependent on the prevailing exchange rate of the US dollar. Throughout the year, the Group monitors the need to hedge foreign exchange rates to minimize currency risk and addresses this risk by using derivative financial instruments. Under the Group’s hedging policy, highly probable cash flows and definite foreign currency receivables collectible within a twelve-month period are tested to determine if they should be hedged. MorphoSys had begun using foreign currency options and forwards to hedge its foreign exchange risk against US dollar receivables in 2003. For derivatives with a positive fair value, unrealized gains are reported in other receivables and for derivatives with a negative fair value, unrealized losses are reported in other liabilities. As of December 31, 2018, there were nine unsettled forward rate agreements with terms ranging from one month to nine months (December 31, 2017: twelve unsettled forward rate agreements; December 31, 2016: ten unsettled forward rate agreements). The unrealized gross gains from these agreements amounted to € 0.1 million as of December 31, 2018, and were reported in the finance result (December 31, 2017: € 0.3 million unrealized gross loss; December 31, 2016: less than € 0.1 million unrealized gross gain). The table below shows the Group’s exposure to foreign currency risk based on the items’ carrying amounts. as of December 31, 2018; in € EUR US$ Other Impairment Total Cash and Cash Equivalents 38,732,565 6,743,271 0 (16,000 ) 45,459,836 Financial Assets at Fair Value through Profit or Loss 34,971,116 9,610,148 0 0 44,581,264 Other Financial Assets at Amortized Cost 365,823,783 0 0 (1,152,000 ) 364,671,783 Accounts Receivable 17,570,035 252,898 0 (90,000 ) 17,732,933 Restricted Cash (included in Other Current Assets) 772,425 12,901 0 (3,000 ) 782,326 Accounts Payable and Accruals (43,638,268 ) (1,122,347 ) 0 0 (44,760,615 ) Total 414,231,656 15,496,871 0 (1,261,000 ) 428,467,527 as of December 31, 2017; in € EUR US$ Other Impairment Total Cash and Cash Equivalents 74,289,250 2,299,879 0 0 76,589,129 Available-for-sale 86,538,195 0 0 0 86,538,195 Financial Assets classified as Loans and Receivables 149,059,254 0 0 0 149,059,254 Accounts Receivable 11,199,652 34,656 0 0 11,234,308 Restricted Cash (included in Other Current Assets) 1,132,782 0 0 0 1,132,782 Accounts Payable and Accruals (44,655,328 ) (156,390 ) 0 0 (44,811,718 ) Gesamt 277,563,805 2,178,145 0 0 279,741,950 Various foreign exchange rates and their impact on assets and liabilities were simulated in an in-depth A 10% increase in the euro versus the US dollar as of December 31, 2017, would have reduced the Group’s income by € 0.2 million. A 10% decline in the euro versus the US dollar would have increased the Group’s income by € 0.2 million. A 10% increase in the euro versus the US dollar as of December 31, 2016, would have reduced the Group’s income by less than € 0.1million. A 10% decline in the euro versus the US dollar would have increased the Group’s income by less than € 0.1million. INTEREST RATE RISK The Group’s risk exposure to changes in interest rates mainly relates to fixed term deposits and corporate bonds. Changes in the general level of interest rates may lead to an increase or decrease in the fair value of these securities. The Group’s investment focus places the safety of an investment ahead of its return. Interest rate risks are limited because all securities can be liquidated within a maximum of two years and due tothe partially fixed interest commitment during the term. Different interest rates and their effects on existing investments with variable interest rates were simulated in a detailed sensitivity analysis in order to determine the effects on profit or loss. An increase of the variable interest rate by 0.5 % would have increased the Group’s result by € 0.4 million as of December 31, 2018 (December 31, 2017: € 0.6 million; December 31, 2016: € 0.3 million). A decrease of the variable interest rate by 0.5 % would have reduced the Group’s result by € 0.1 million as of December 31, 2018 (December 31, 2017: € 0.4 million; December 31, 2016: € 0.5 million). Changes in the interest rate had no material impact on equity as of December 31, 2017 or December 31, 2016. The Group is not subject to significant interest rate risks from the liabilities currently reported in the balance sheet. 2.3.3 FAIR VALUE HIERARCHY AND MEASUREMENT PROCEDURES The IFRS 13 “Fair Value Measurement” guidelines must always be applied when measurement at fair value is required or permitted or disclosures regarding measurement at fair value are required based on another IAS/IFRS guideline. The fair value is the price that would be achieved for the sale of an asset in an arm’s length transaction between independent market participants or the price to be paid for the transfer of a liability (disposal or exit price). Accordingly, the fair value of a liability reflects the default risk (i.e., own credit risk). Measurement at fair value requires that the sale of the asset or the transfer of the liability takes place on the principal market or, if no such principal market is available, on the most advantageous market. The principal market is the market a company has access to that has the highest volume and level of activity. Fair value is measured by using the same assumptions and taking into account the same characteristics of the asset or liability as would an independent market participant. Fair value is a market-based, not an entity-specific measurement. The fair value of non-financial MorphoSys applies the following hierarchy in determining and disclosing the fair value of financial instruments: Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities to which the Company has access. Level 2: Inputs other than quoted prices included within Level 1 that are observable for assets or liabilities, either directly (i.e., as prices) or indirectly (i.e., derived from prices). Level 3: Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs). The carrying amounts of financial assets and liabilities, such as other financial assets at amortized cost, as well as accounts receivable and accounts payable, approximate their fair value because of their short-term maturities. HIERARCHY LEVEL 1 The fair value of financial instruments traded in active markets is based on the quoted market prices on the reporting date. A market is considered active if quoted prices are available from an exchange, dealer, broker, industry group, pricing service or regulatory body that is easily and regularly accessible and prices reflect current and regularly occurring market transactions at arm’s length conditions. For assets held by the Group, the appropriate quoted market price is the buyer’s bid price. These instruments fall under Hierarchy Level 1 (see Item 5.2 of the Notes). HIERARCHY LEVEL 2 AND 3 The fair value of financial instruments not traded in active markets can be determined using valuation methods. In this case, fair value is estimated using the results of a valuation method that makes maximum use of market data and relies as little as possible on entity-specific inputs. If all significant inputs required for measuring fair value by using valuation methods are observable, the instrument is allocated to Hierarchy Level 2. If significant inputs are not based on observable market data, the instrument is allocated to Hierarchy Level 3. Hierarchy Level 2 contains forward exchange contracts to hedge exchange rate fluctuations, term deposits and restricted cash. Future |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Segment Reporting | 3 Segment Reporting MorphoSys Group applies IFRS 8 “Operating Segments”. An operating segment is defined as a unit of an entity that engages in business activities from which it can earn revenues and incur expenses and whose operating results are regularly reviewed by the entity’s chief operating decision maker, the Management Board, and for which discrete financial information is available. Segment information is provided for the Group’s operating segments based on the Group’s management and internal reporting structures. The segment results and segment assets include items that can be either directly attributed to the individual segment or allocated to the segments on a reasonable basis. The Management Board evaluates a segment’s economic success using selected key figures so that all relevant income and expenses are included. EBIT, which the Company defines as earnings before finance income, finance expenses, impairment losses on financial assets and income taxes, is the key benchmark for measuring and evaluating the operating results. Refer to the table in Note 3.3 for a reconciliation of EBIT to Net income as well as to the table in Note 4.3 for a breakdown of finance income and expenses. Other key internal reporting figures include revenues, operating expenses, segment results and the liquidity position. The Group consists of the following operating segments. 3.1 PROPRIETARY DEVELOPMENT The segment comprises all activities related to the proprietary development of therapeutic antibodies and peptides. Currently, this segment’s activities comprise a total of twelve antibodies and peptides, with MOR208 representing the Company’s most advanced proprietary clinical program. Also included are the antibody MOR202, which was partially out-licensed I-Mab co-developed out-licensed out-licensed out-licensed co-development 3.2 PARTNERED DISCOVERY MorphoSys possesses one of the leading technologies for generating therapeutics based on human antibodies. The Group markets this technology commercially through its partnerships with numerous pharmaceutical and biotechnology companies. The Partnered Discovery segment encompasses all operating activities relating to these commercial agreements. 3.3 CROSS-SEGMENT DISCLOSURE The information on segment assets is based on the assets’ respective locations. For the Proprietary Development Partnered Discovery Unallocated Group (in 000’s €) 2018 2017 2016 2018 2017 2016 2018 2017 2016 2018 2017 2016 External Revenues 53,610 17,635 621 22,832 49,156 49,123 0 0 0 76,442 66,791 49,744 Operating Expenses (107,019 ) (99,106 ) (78,515 ) (9,516 ) (18,906 ) (18,113 ) (19,969 ) (15,835 ) (13,212 ) (136,504 ) (133,847 ) (109,840 ) Segment Result (53,409 ) (81,471 ) (77,894 ) 13,316 30,250 31,010 (19,969 ) (15,835 ) (13,212 ) (60,062 ) (67,056 ) (60,096 ) Other Income 159 157 327 0 0 0 1,486 963 382 1,645 1,120 709 Other Expenses 0 0 0 0 0 0 (689 ) (1,671 ) (554 ) (689 ) (1,671 ) (554 ) Segment EBIT (53,250 ) (81,314 ) (77,567 ) 13,316 30,250 31,010 (19,172 ) (16,543 ) (13,384 ) (59,106 ) (67,607 ) (59,941 ) Finance Income 418 712 1,385 Finance Expenses (754 ) (1,895 ) (1,308 ) Impairment Losses on Financial Assets (1,035 ) 0 0 Earnings before Taxes (60,477 ) (68,790 ) (59,864 ) Income Tax Benefit / (Expenses) 4,305 (1,036 ) (519 ) Net Loss (56,172 ) (69,826 ) (60,383 ) Current Assets 15,842 8,802 13,157 7,114 18,054 18,415 365,949 313,825 276,484 388,905 340,681 308,056 Non-current 42,041 60,658 59,292 6,288 8,490 10,165 101,530 5,569 86,087 149,859 74,717 155,544 Total Segment Assets 57,883 69,460 72,449 13,402 26,544 28,580 467,479 319,394 362,571 538,764 415,398 463,600 Current Liabilities 32,167 33,008 20,948 1,471 4,083 2,512 12,285 10,610 14,842 45,923 47,701 38,302 Non-current 3,291 7,072 6,930 158 1,045 2,165 1,019 909 743 4,468 9,026 9,838 Stockholders’ Equity 0 0 0 0 0 0 488,373 358,671 415,460 488,373 358,671 415,460 Total Segment Liabilities and Equity 35,458 40,080 27,878 1,629 5,128 4,677 501,677 370,190 431,045 538,764 415,398 463,600 Capital Expenditure 1,319 12,344 1,358 879 602 1,181 268 204 374 2,466 13,150 2,913 Depreciation and Amortization 1,903 1,555 1,272 1,429 2,075 2,117 418 400 375 3,750 4,030 3,764 The segment result is defined as a segment’s revenue less the segment’s operating expenses. The unallocated other operating expenses of € 20.0 million (2017: € 15.8 million; 2016: € 13.2 million) included primarily expenses for central administrative functions that are not allocated to one of the two segments. Finance income, finance expense and income tax are also not allocated to the segments as they are managed on a Group basis. In the 2018 financial year, impairments totaling € 19.2 million were recognized in the Proprietary Development segment (2017: impairments of € 9.9 million in the Proprietary Development segment; 2016: impairments of € 10.1million in the Proprietary Development segment). The Group’s key customers are allocated to either the Proprietary Development or Partnered Discovery segments. As of December 31, 2018, the single most important customer represented accounts receivable with a carrying amount of € 5.9 million (December 31, 2017: € 5.1 million). The largest customer accounted for revenues in 2018 of € 49.5 million, the second largest for € 19.0 million and the third largest for € 3.9 million. The largest and third largest customers are allocated to the Proprietary Development segment and the second largest customer to the Partnered Discovery segment. In 2017, the largest customer accounted for € 36.9 million of the Group’s total revenue, the second largest € 16.8 million and the third largest € 6.7 million. The largest and third largest customers were allocated to the Partnered Discovery segment, and the second largest customer to the Proprietary Development segment. The top three of the Group’s customers that were all allocated to the Partnered Discovery segment accounted for € 42.1 million, € 2.5 million and € 2.5 million, respectively, of the total revenues in 2016. The following overview shows the Group’s regional distribution of revenue. in 000’ € 2018 2017 2016 Germany 309 851 1,621 Europe and Asia 56,784 57,229 43,046 USA and Canada 19,350 8,711 5,077 Total 76,443 66,791 49,744 The following overview shows the timing of the satisfaction of performance obligations in 2018. in 000’ € Proprietary Partnered At a Point in Time thereof performance obligations fulfilled in previous periods: € 0 in Proprietary Development and € 19.0 million in Partnered Discovery 53,610 22,268 Over Time 0 564 Total 53,610 22,832 A total of € 136.1 million (December 31, 2017: € 42.2 million) and € 13.7 million (December 31, 2017: € 32.6 million) of the Group’s non-current non-current |
Notes to Profit or Loss
Notes to Profit or Loss | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Notes to Profit or Loss | 4 Notes to Profit or Loss 4.1 REVENUES In 2018, revenues consisted of milestone payments and royalties totaling € 19.3 million (2017: € 7.3 million; 2016: € 5.6 million). In 2018, 2017 and 2016 these were entirely generated by the Partnered Discovery segment. Revenues from license fees (except milestone payments and royalties) amounted to € 51.2 million in 2018 (2017: € 37.5 million; 2016: € 22.8 million) and was attributable to the Proprietary Development segment in the amount of € 50.6 million (2017: € 16.8 million), and to the Partnered Discovery segment in the amount of € 0.6 million (2017: € 20.7 million; 2016: € 22.8 million). Of the service fee revenues totaling € 5.9 million (2017: € 22.0 million; 2016: € 21.4 million), € 3.0 million (2017: € 0.8 million; 2016: € 0.6 million) was attributable to the Proprietary Development segment, and € 2.9 million (2017: € 21.2 million; 2016: € 20.8 million) to the Partnered Discovery segment. Substantially all service fee revenues relate to revenue on a gross basis (principal). Of the total revenues in 2018, revenues of € 19.0 million were recognized from performance obligations that were fulfilled in previous periods and relate to milestone payments and royalties (2017: € 7.8 million; 2016: € 7.1 million). 4.2 OPERATING EXPENSES 4.2.1 COST OF SALES Cost of sales consists of the items below. in 000’ € 2018 2017 2016 Personnel Expenses 1,797 0 0 Total 1,797 0 0 4.2.2 RESEARCH AND DEVELOPMENT EXPENSES Research and development expenses are composed of the items below. in 000’ € 2018 2017 2016 Personnel Expenses 25,288 28,482 25,145 Consumable Supplies 2,310 2,588 2,321 Other Operating Expenses 2,761 2,757 2,608 Impairment, Amortization and Other Costs of Intangible Assets 22,760 13,503 13,689 External Services 47,889 61,119 44,311 Depreciation and Other Costs for Infrastructure 5,389 4,865 5,889 Total 106,397 113,314 93,963 4.2.3 SELLING EXPENSES Selling expenses consist of the items below. in 000’ € 2018 2017 2016 Personnel Expenses 2,536 1,771 1,661 Consumable Supplies 3 1 1 Other Operating Expenses 538 386 444 Amortization of Intangible Assets 25 0 0 External Services 2,953 2,658 338 Depreciation and Other Costs for Infrastructure 328 0 0 Total 6,383 4,816 2,444 4.2.4 GENERAL AND ADMINISTRATIVE EXPENSES General and administrative expenses included the items below. in 000’ € 2018 2017 2016 Personnel Expenses 15,016 11,797 9,208 Consumable Supplies 15 33 97 Other Operating Expenses 1,012 714 847 Amortization of Intangible Assets 97 112 111 External Services 4,475 2,224 2,244 Depreciation and Other Costs for Infrastructure 1,313 838 925 Total 21,928 15,718 13,432 4.2.5 PERSONNEL EXPENSES Personnel expenses included the items below. in 000’ € 2018 2017 2016 Wages and Salaries 30,349 28,196 27,146 Social Security Contributions 4,341 4,542 4,570 Share-based Payment Expense 5,585 4,975 2,357 Temporary Staff (External) 1,241 881 1,061 Other 3,121 3,456 880 Total 44,637 42,050 36,014 Personnel expenses from share-based payment in 2018 included a one-time In 2018, other personnel expenses mainly included costs for personnel recruitment as well as promotion and development measures. In 2017, this item consisted primarily of costs for severance payments and measures to recruit, promote and develop personnel. In 2016, other personnel expenses comprised mainly of recruitment costs. Due to the increasing importance of selling expenses in connection with the planned preparations for the commercialization of MOR208, the existing functions presented in profit or loss were expanded in 2018 to include the area of “sales”. In order to ensure the comparability of information, the previous year’s figures have been adjusted accordingly. The average number of employees in the 2018 financial year was 327 (2017: 344; 2016: 354). Of the 329 employees on December 31, 2018 (December 31, 2017: 326; December 31, 2016: 345), 246 were active in research and development (December 31, 2017: 253; December 31, 2016: 280), 21 in sales (December 31, 2017: 14; December 31, 2016: 12), and 62 were engaged in general and administrative functions (December 31, 2017: 59 employees; December 31, 2016: 53 employees). As of December 31, 2018, there were 209 employees in the Proprietary Development segment and 49 employees in the Partnered Discovery segment while 71 employees were not allocated to a specific segment (December 31, 2017: 161 in the Proprietary Development segment, 105 employees in the Partnered Discovery segment and 60 employees were unallocated; December 31, 2016: 135 in the Proprietary Development segment, 156 employees in the Partnered Discovery segment and 54 employees were unallocated). Costs for defined-contribution plans amounted to € 0.7 million in 2018 (2017: € 0.6 million; 2016: € 0.5 million). 4.3 OTHER INCOME AND EXPENSES, FINANCE INCOME AND FINANCE EXPENSES in 000’ € 2018 2017 2016 Grant Income 153 157 327 Gain on Foreign Exchange 677 485 192 Gain from recognition of previously unrecognized intangible assets 350 0 0 Reversal of Impairment for Accounts Receivable Previously Deemed Impaired 0 76 15 Miscellaneous Income 465 402 175 Other Income 1,645 1,120 709 Loss on Foreign Exchange (457 ) (844 ) (400 ) Impairment of Other Receivables 0 0 (7 ) Miscellaneous Expenses (232 ) (827 ) (147 ) Other Expenses (689 ) (1,671 ) (554 ) Gain on Financial Assets at Fair Value through Profit or Loss Available-for-sale 5 35 294 Interest Income on Other Financial Assets at Amortized Cost 91 236 1,017 Gain on Derivatives 322 441 74 Finance Income 418 712 1,385 Loss on Financial Assets at Fair Value through Profit or Loss Available-for-sale (85 ) (120 ) (1,209 ) Interest Expenses for Other Financial Assets at Amortized Cost (53 ) (374 ) (20 ) Interest Expenses for Financial Liabilites at Amortized Cost (126 ) 0 0 Loss on Derivatives (444 ) (1,360 ) (44 ) Bank Fees (46 ) (41 ) (35 ) Finance Expenses (754 ) (1,895 ) (1,308 ) The following net gains or losses resulted from financial instruments in the fiscal year. in 000’ € 2018 2017 2016 Financial Assets at Fair Value through Profit or Loss (202 ) (919 ) 30 Other Financial Assets at Amortized Cost (978 ) 0 0 Shares at Fair Value through Other Comprehensive Income (127 ) 0 0 Financial Liabilities at Amortized Cost (126 ) 0 0 Available-for-sale 0 (190 ) (1,069 ) Financial Assets classified as Loans and Receivables 0 (164 ) 918 Total (1,433 ) (1,273 ) (121 ) Net gains or losses mainly comprised gains and losses on derivatives, interest income and expenses as well as valuation effects from changes in fair value. 4.4 INCOME TAX EXPENSES/BENEFIT MorphoSys AG is subject to corporate taxes, the solidarity surcharge and trade taxes. The Company’s corporate tax rate in 2018 remained unchanged (15.0%) as did the solidarity surcharge (5.5%) and the effective trade tax rate (10.85%). MorphoSys US Inc. is subject to Federal Corporate Income Tax (21%) and the State Income Tax for Princeton, New Jersey (9%). The Dutch entities Lanthio Pharma B.V. and LanthioPep B.V. are subject to an income tax rate of 25% on annual income exceeding € 200,000; annual income below € 200,000 is subject to a tax rate of 20%. Depending on certain conditions, a tax rate of previously 5 % and from January 1, 2018, 7 % may be applicable under what is known as the “Innovation Box.” Income taxes consist of the items listed below. in 000’ € 2018 2017 2016 Current Tax Income / (Expense) (Thereof Regarding Prior Years: k€ 1; 2017: k€ 171; 2016: k€ (60)) 1 (534 ) 45 Deferred Tax Benefit / (Expenses) 4,304 (502 ) (564 ) Total Income Tax Benefit / (Expenses) 4,305 (1,036 ) (519 ) Total Amount of Current Taxes Resulting from Entries Directly Recognized in Other Comprehensive Income 0 0 (82 ) Total Amount of Deferred Taxes Resulting from Entries Directly Recognized in Other Comprehensive Income 0 0 (112 ) Total Amount of Tax Effects Resulting from Entries Directly Recognized in Equity or Other Comprehensive Income 0 0 (194 ) The deferred tax benefit in 2018 mainly resulted from the impairment on intangible assets within the cash-generating unit, the Lanthio Group (€ 3.8 million). Further information can be found in Item 5.7.5 in the Notes. The following table reconciles the expected income tax expense to the actual income tax expense as presented in the consolidated financial statements. The combined income tax rate of 26.675% in the 2018 financial year (2017: 26.675%) was applied to profit before taxes to calculate the statutory income tax expense. This rate consisted of corporate income tax of 15.0%, a solidarity surcharge of 5.5% on the corporate tax and an average trade tax of 10.85% applicable to the Group. in 000’ € 2018 2017 2016 Earnings Before Income Taxes (60,477 ) (68,790 ) (59,864 ) Expected Tax Rate 26,675 % 26,675 % 26,675 % Expected Income Tax 16,132 18,350 15,969 Tax Effects Resulting from: Share-based Payment (363 ) (290 ) 5 Non-Tax-Deductible (126 ) (134 ) (135 ) Differences in Profit or Loss-Neutral Adjustments 3,716 37 812 Non-Recognition (349 ) 3,256 (3,766 ) Non-Recognition (14,497 ) (22,007 ) (13,354 ) Tax Rate Differences to Local Tax Rates (268 ) (71 ) (46 ) Prior Year Taxes 1 (171 ) 0 Other Effects 59 (6 ) (4 ) Actual Income Tax 4,305 (1,036 ) (519 ) The differences in profit or loss-neutral adjustments mainly contained the permanent differences of the issuance costs from the Nasdaq IPO. As of December 31, 2018, neither deferred tax assets on tax loss carryforwards in the amount of € 51.0 million (December 31, 2017: € 37.4 million) nor deferred tax assets on temporary differences in the amount of € 0.7 million (December 31, 2017: € 0.5 million) were recognized by MorphoSys Group due to losses to be incurred as a result of continued substantial investments in proprietary product development and related business development. Deferred tax assets and deferred tax liabilities are composed as follows. in 000’s €, as of December 31 Deferred Tax Deferred Tax Deferred Tax Deferred Tax Intangible Assets 0 0 4,317 8,297 Receivables and Other Assets 319 0 0 0 Prepaid Expenses and Deferred Charges 0 0 0 3 Other Provisions 278 253 0 0 Other Liabilities 213 236 0 0 Total 810 489 4,317 8,300 Changes in Deferred Taxes in 2018 in 000’s €, as of December 31 Recognized in Profit or Loss Recognized in Other Intangible Assets 3,980 0 Receivables and Other Assets 319 0 Prepaid Expenses and Deferred Charges 3 0 Other Provisions 25 0 Other Liabilities (23 ) 0 Total 4,304 0 As of December 31, 2018, temporary differences of € 1.0 million (December 31, 2017: € 0.2 million) existed in connection with investments in subsidiaries (known as outside basis differences) for which no deferred tax assets were recognized (2017: no deferred tax liabilities). 4.5 EARNINGS PER SHARE Earnings per share are computed by dividing the 2018 consolidated net loss of € 56,172,121 (2017: consolidated net loss of € 69,826,469; 2016: consolidated net loss of € 60,382,776) by the weighted-average number of ordinary shares outstanding during the respective year (2018: 31,338,948; 2017: 28,947,566; 2016: 26,443,415). The table below shows the calculation of the weighted-average number of ordinary shares. 2018 2017 Shares Issued on January 1 29,420,785 29,159,770 Effect of Treasury Shares Held on January 1 (319,678 ) (396,010 ) Effect of Share Issuance 2,208,146 0 Effect of Transfer of Treasury Stock to Members of the Management Board 0 7,759 Effect of Transfer of Treasury Stock / Shares Issued in January 278 0 Effect of Transfer of Treasury Stock / Shares Issued in February 0 0 Effect of Transfer of Treasury Stock / Shares Issued in March 0 0 Effect of Transfer of Treasury Stock / Shares Issued in April 1,863 154,250 Effect of Transfer of Treasury Stock / Shares Issued in May 4,128 3,778 Effect of Transfer of Treasury Stock / Shares Issued in June 756 1,094 Effect of Transfer of Treasury Stock / Shares Issued in July 1,874 2,038 Effect of Transfer of Treasury Stock / Shares Issued in August 17,754 2,669 Effect of Transfer of Treasury Stock / Shares Issued in September 2,818 3,976 Effect of Transfer of Treasury Stock / Shares Issued in October 76 2,566 Effect of Transfer of Treasury Stock / Shares Issued in November 85 5,549 Effect of Transfer of Treasury Stock / Shares Issued in December 63 127 Weighted-average Number of Shares of Common Stock 31,338,948 28,947,566 In 2018 and 2017, diluted earnings per share equaled basic earnings per share. The effect of 52,930 potentially dilutive shares in 2018 (2017: 87,904 dilutive shares; 2016: 99,764 dilutive shares) resulting from stock options granted to the Management Board, the Senior Management Group and employees of the Company who are not members of the Senior Management Group, has been excluded from the diluted earnings per share because it would result in a decrease in the loss per share and is therefore not to be treated as dilutive. |
Notes to the Assets of the Bala
Notes to the Assets of the Balance Sheet | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Notes to the Assets of the Balance Sheet | 5 Notes to the Assets of the Balance Sheet CASH AND CASH EQUIVALENTS in 000’ € 12/31/2018 12/31/2017 Bank Balances and Cash in Hand 45,476 76,589 Impairment (16 ) 0 Cash and Cash Equivalents 45,460 76,589 Restricted cash of € 0.7 million mainly consisted of rent deposits (2017: € 1.1 million). The presentation of the development of the expected twelve-month loss for cash and cash equivalents to be recognized under IFRS 9 can be found in Item 2.3.1 of the Notes. FINANCIAL ASSETS AT FAIR VALUE, WITH CHANGES RECOGNIZED IN PROFIT OR LOSS AND OTHER FINANCIAL INCOME AT AMORTIZED COSTS Gross Unrealized in 000’ € Maturity Cost Gains Losses Market Value December 31, 2018 Money Market Funds daily 44,718 0 (137 ) 44,581 Total 44,581 December 31, 2017 Money Market Funds daily 86,644 0 (106 ) 86,538 Total 86,538 As of January 1, 2019, realized and unrealized gains and losses on money market funds held or sold were recognized in the finance result in profit or loss in accordance with IFRS 9. The sale of financial assets in 2018 resulted in net losses of less than € 0.1 million. In 2017, in accordance with IAS 39, the Group recognized a net gain of less than € 0.1 million in profit or loss resulting from the sale of financial assets previously recognized in equity (2016: net gain of € 0.3 million). in 000’ € Maturity Cost Unrealized Interest Impairment Carrying December 31, 2018 Term Deposits, Current Portion 4 - 12 Months 219,720 2 (744 ) 218,978 Commercial Papers 4 - 12 Months 50,000 0 (55 ) 49,945 Term Deposits, Net of Current Portion More than 96,090 12 (353 ) 95,749 Total 364,672 December 31, 2017 Term Deposits, Current Portion 4 - 12 Months 149,000 59 0 149,059 Total 149,059 In 2018, current and non-current Interest income from financial assets “at amortized cost” in 2018 amounted to € 0.1 million in 2018 (2017: € 0.2 million from financial assets “loans and receivables”; 2016: € 0.9 million from financial assets “loans and receivables”) and were recorded in the finance result. The risk associated with these financial instruments primarily resulted from bank credit risks. The presentation of the development of the expected twelve-month loss and the lifetime expected credit loss for term deposits and commercial papers which must be recognized under IFRS 9 can be found in Item 2.3.1 of the Notes. Further information on the accounting for financial assets is provided in Item 2.8.1 in the Notes. ACCOUNTS RECEIVABLE All accounts receivable are non-interest The presentation of the development of the risk provisions to be recognized in accordance with IFRS 9 in the 2018 financial year for accounts receivable using the simplified impairment model can be found in Item 2.3.1 of the Notes. Based on the Management Board’s assessment, no net loss for allowances for doubtful receivables was recognized in profit or loss in 2017. OTHER RECEIVABLES Other receivables as of December 31, 2018, mainly consisted of receivables from unrealized gross gains on forward rate agreements in the amount of € 0.1 million (December 31, 2017: € 0.3 million unrealized gross loss, included under provisions for onerous contracts. This can be found in Item 6.2 of the Notes.). The forward rate agreements were classified as financial assets at fair value through profit or loss in accordance with IFRS 9. As of December 31, 2018 and December 31, 2017, there were no impairments recognized for other receivables. INCOME TAX RECEIVABLES, INVENTORIES, PREPAID EXPENSES AND OTHER CURRENT ASSETS As of December 31, 2018 income tax receivables amounted to € 0.2 million (December 31, 2017: € 0.7 million) and consisted of receivables from capital gain taxes withheld and income taxes for prior years. Inventories amounting to € 0.2 million as of December 31, 2018 (December 31, 2017: € 0.3 million) were stored at the Planegg location and consisted of raw materials and supplies. As in the previous year, there were no inventories recognized at fair value less selling costs as of the reporting date. As of December 31, 2018, prepaid expenses and other current assets mainly consisted of combination compounds in the amount of € 5.4 million (December 31, 2017: € 11.2 million), receivables towards tax authorities from input tax surplus of € 2.7 million (December 31, 2017: € 2.4 million), upfront fees for external laboratory services of € 1.9 million (December 31, 2017: € 0.6 million), upfront fees for sublicenses of € 0.4 million (December 31, 2017: € 0.4 million), restricted cash for rent deposits of € 0.0 million (December 31, 2017: € 0.4 million) and other prepayments amounting to € 1.3 million (December 31, 2017: € 1.1 million). An impairment of € 4.8 million was recognized on combination compounds in 2018. PROPERTY, PLANT AND EQUIPMENT in 000’ € Office and Furniture Total Cost January 1, 2018 17,335 2,501 19,836 Additions 1,780 41 1,821 Disposals (1,457 ) (1,603 ) (3,060 ) 31. Dezember 2018 17,658 939 18,597 Accumulated Depreciation and Impairment January 1, 2018 14,490 1,820 16,310 Depreciation Charge for the Year 1,723 89 1,812 Disposals (1,455 ) (1,601 ) (3,056 ) December 31, 2018 14,758 308 15,066 Carrying Amount January 1, 2018 2,845 681 3,526 December 31, 2018 2,900 631 3,531 Cost January 1, 2017 16,658 2,389 19,047 Additions 1,205 112 1,317 Disposals (528 ) 0 (528 ) December 31, 2017 17,335 2,501 19,836 Accumulated Depreciation and Impairment January 1, 2017 13,120 1,738 14,858 Depreciation Charge for the Year 1,887 82 1,969 Impairment 0 0 0 Disposals (517 ) 0 (517 ) December 31, 2017 14,490 1,820 16,310 Carrying Amount January 1, 2017 3,538 651 4,189 December 31, 2017 2,845 681 3,526 No impairment losses on property, plant and equipment were recognized in the 2018, 2017 and 2016 financial years. No borrowing costs were capitalized during the reporting period, and there were neither restrictions on retention of title nor property, plant and equipment pledged as security for liabilities. There were no material contractual commitments for the purchase of property, plant and equipment as of the reporting date. Depreciation is included in the following line items of profit or loss. in 000’ € 2018 2017 2016 Research and Development 1,398 1,672 1,518 Selling 87 0 0 General and Administrative 327 297 268 Total 1,812 1,969 1,786 INTANGIBLE ASSETS in 000’ € Patents License Rights In-process R&D Software Goodwill Total Cost January 1, 2018 16,995 23,896 52,159 5,853 11,041 109,944 Additions 590 0 0 55 0 645 Disposals 0 0 0 (264 ) 0 (264 ) December 31, 2018 17,585 23,896 52,159 5,644 11,041 110,325 Accumulated Amortization and Impairment January 1, 2018 12,326 20,897 0 5,198 3,676 42,097 Amortization Charge for the Year 1,320 112 0 506 0 1,938 Impairment 0 360 15,140 0 3,689 19,189 Disposals 0 0 0 (264 ) 0 (264 ) December 31, 2018 13,646 21,369 15,140 5,440 7,365 62,960 Carrying Amount January 1, 2018 4,669 2,999 52,159 655 7,365 67,847 December 31, 2018 3,939 2,527 37,019 204 3,676 47,365 Cost January 1, 2017 16,419 23,896 60,960 5,800 11,041 118,116 Additions 640 0 11,140 53 0 11,833 Disposals (64 ) 0 (19,941 ) 0 0 (20,005 ) December 31, 2017 16,995 23,896 52,159 5,853 11,041 109,944 Accumulated Amortization and Impairment January 1, 2017 11,096 20,749 10,141 4,515 3,676 50,177 Amortization Charge for the Year 1,230 148 0 683 0 2,061 Impairment 64 0 9,800 0 0 9,864 Disposals (64 ) 0 (19,941 ) 0 0 (20,005 ) December 31, 2017 12,326 20,897 0 5,198 3,676 42,097 Carrying Amount January 1, 2017 5,323 3,147 50,819 1,285 7,365 67,939 December 31, 2017 4,669 2,999 52,159 655 7,365 67,847 Impairment losses of € 0.4 million were recognized on licenses in the 2018 financial year. In the 2017 financial year, € 0.1 million of impairment losses were recognized on patents and licenses. No impairment on patents and licenses was recognized in the 2016 financial year. As of December 31, 2018, in-process in-process The carrying amount of intangible assets pledged as security amounts to € 13.1 million and relates to a government grant in the amount of € 1.5 million. Amortization is included in the following line items of profit or loss. in 000’ € 2018 2017 2016 Research and Development 1,822 1,958 1,872 Research and Development (Write-off) 19,189 9,864 10,141 Selling 25 0 0 General and Administrative 91 103 106 Total 21,127 11,925 12,119 PATENTS In the 2018 financial year, the carrying amount of patents declined by € 0.8 million from € 4.7 million to € 3.9 million. This was the result of additions amounting to € 0.6 million for patent applications, particularly for proprietary programs and technologies, which were offset by straight-line amortization of € 1.3 million. LICENSES In the 2018 financial year, the carrying amount of licenses declined by € 0.5 million from € 3.0 million to € 2.5 million as a result of scheduled and unscheduled amortization. IN-PROCESS The carrying amount of in-process As of December 31, 2018, this balance sheet item contained capitalized upfront payments from the in-licensing MOR208 As an intangible asset with indefinite useful life (no foreseeable limit to the period over which this compound is expected to generate cash flows) and a carrying amount of € 23.9 million, MOR208 was subject to an annual impairment test on September 30, 2018, as required by IAS 36. The recoverable amount of the MOR208 cash-generating unit was determined on the basis of value-in-use value-in-use value-in-use value-in-use SOFTWARE In the 2018 financial year, additions to this line item totaled € 0.1 million. The carrying amount decreased by € 0.5 million from € 0.7 million in 2017 to € 0.2 million in 2018. Additions were offset by amortization of € 0.6 million. GOODWILL The annual goodwill impairment test was performed on September 30, 2018. SLONOMICS TECHNOLOGY As of September 30, 2018, goodwill of € 3.7 million from the 2010 acquisition of Sloning BioTechnology GmbH was subject to an impairment test as required by IAS 36. The recoverable amount of the cash-generating unit Slonomics technology, which is part of the Partnered Discovery segment, was determined on the basis of value-in-use value-in-use ten-year value-in-use value-in-use. value-in-use LANTHIO GROUP As a result of a regular review of the Company’s proprietary portfolio it was decided in the second quarter of 2018 to discontinue a project in the research stage of the cash-generating unit, the Lanthio Group, in the Proprietary Development operating segment. Accordingly, an impairment of € 1.7 million was recorded in research and development expenses as of June 30, 2018. On September 30, 2018, goodwill of € 3.7 million and the related intangible asset with indefinite useful life (no foreseeable limit to the period over which MOR208 is expected to generate cash flows) of € 26.5 million from the Lanthio Group acquisition were subject to an annual impairment test. This did not result in an impairment loss as of September 30, 2018. In the fourth quarter of 2018, updated study data led to the need for further studies, and the existing development plan was adjusted accordingly. This resulted in the expectation of a delayed market entry and a delay in the occurrence of future cash flows compared to previous assumptions. The cash flow forecasts included planned cash inflows from the potential sale of compounds based on lanthipeptides expected to achieve market approval. These cash inflows were offset by expected operating expenses for compound development and clinical trials as well as sales and administrative expenses. The duration and likelihood of individual stages of the study were taken into consideration. Cash flow forecasts are based on a period of 30 years as the Management Board believes that after the successful approval of compounds, the drugs that follow can generate free cash flows within that period of time. The recoverable amount resulting from this adjusted cash flow forecast of the cash-generating unit Lanthio Group, which is part of the Proprietary Development segment, was determined on the basis of value-in-use in-process in-process value-in-use value-in-use No indicators for additional impairments were identified at December 31, 2018. INVESTMENTS AT FAIR VALUE, WITH CHANGES RECOGNIZED IN OTHER COMPREHENSIVE INCOME This line item consisted of an investment in adivo GmbH, Martinsried, amounting to 19.9%, which was purchased by MorphoSys AG in July 2018 in the context of start-up The change in investments in the 2018 financial year is shown below. in 000’ € 01/01/2018 Additions Disposals Through Other Through 12/31/2018 Shareholdings 0 359 0 (127 ) 0 232 As of December 31, 2018, the fair value of the investment was measured at € 0.2 million. The decrease of € 0.1 million was recognized directly in equity. The significant unobservable input parameters used in the measurement were corporate planning assumptions, the probability-weighted estimate of cash flows and the discount rate. From the information currently available, a material change in corporate planning is not considered likely and therefore the cash flow forecasts used are considered as a suitable basis for determining the fair value. A change in the pre-tax +/- PREPAID EXPENSES AND OTHER ASSETS, NET OF CURRENT PORTION This line item included the non-current The breakdown of this line item is shown in the table below. in 000’ € 12/31/2018 12/31/2017 Prepaid Expenses, Net of Current Portion 2,199 2,546 Other Current Assets 783 798 Total 2,982 3,344 |
Notes to Equity and Liabilities
Notes to Equity and Liabilities of the Balance Sheet | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Notes to Equity and Liabilities of the Balance Sheet | ACCOUNTS PAYABLE AND ACCRUALS Accounts payable and licenses payable were non-interest-bearing Accounts payable are listed in the table below. in 000’ € 12/31/2018 12/31/2017 Trade Accounts Payable 7,215 4,622 Licenses Payable 184 196 Accruals 36,530 36,408 Other Liabilities 832 3,586 Total 44,761 44,812 Accruals consisted mainly of accruals for external laboratory services in the amount of € 26.2 million (December 31, 2017: € 26.3 million), accrued personnel expenses for payments to employees and management amounting to € 5.1 million (December 31, 2017: € 5.0 million), provisions for outstanding invoices in the amount of € 2.8 million (December 31, 2017: € 2.6 million), expenses for legal advice in the amount of € 1.5 million (December 31, 2017: € 2.1 million), audit fees and other audit-related costs in the amount of € 0.5 million (December 31, 2017: € 0.2 million) and license payments in the amount of € 0.1 million (December 31, 2017: € 0.2 million). At the Company’s Annual General Meeting in May 2018, the PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC GmbH), Munich, was appointed as the auditor. The Supervisory Board engaged the PwC GmbH to audit the financial statements. In the 2018 financial year, PwC GmbH received a total fee from MorphoSys in the amount of € 1,274,165, including audit fees in the amount of € 468,803, audit-related fees of € 516,408, as well as all other fees for other services in the amount of € 288,954. PwC GmbH did not provide tax services in 2018. TAX PROVISIONS AND OTHER PROVISIONS As of December 31, 2018, the Group recorded tax provisions and other provisions of € 0.4 million (2017: € 1.5 million). Tax provisions mainly consisted of income tax expenses and other provisions mainly included expenses for personnel recruitment. As of December 31, 2018, tax provisions and other provisions were uncertain in their amount and are expected to be utilized in 2019. The table below shows the development of tax provisions and current and non-current in 000’ € 01/01/2018 Additions Utilized Released 12/31/2018 Tax Provisions 315 0 72 35 208 Other Provisions 1,209 773 1,192 606 184 Total 1,524 773 1,264 641 392 CONTRACT LIABILITIES Contract liabilities related to transaction prices paid by customers, which were allocated to the performance obligations not fulfilled as of December 31, 2018. It is expected that current contract liabilities will be realized in the 2019 financial year and non-current in 000’ € 2018 2017 Opening Balance before Application of IFRS 15 1,695 2,905 Application of IFRS 15 (1,135 ) 0 Opening Balance after Application of IFRS 15 560 2,905 Prepayments Received in the Fiscal Year 2,386 18,386 Revenues Recognized in the Reporting Period that was included in the Contract Liability at the Beginning of the Period (306 ) 0 Revenues Recognized for Received Prepayments and Services Performed in the Fiscal Year (1,688 ) (19,596 ) Closing Balance 952 1,695 thereof short-term 794 1,389 thereof long-term 158 306 OTHER LIABILITIES Other liabilities exclusively consisted of the deferred amount related to the rent-free period for the building located at Semmelweisstraße 7, Planegg, as agreed in the lease contract. This item is released over the contractually agreed minimum rent period. The current portion amounting to € 0.1 million of this liability was included in the item accounts payable and accruals. STOCKHOLDERS’ EQUITY COMMON STOCK As of December 31, 2018, the Company’s common stock including treasury stock amounted to € 31,839,572, which represents an increase of € 2,418,787 compared to € 29,420,785 on December 31, 2017. Each share of common stock grants one vote. The increase in common stock resulted from the capital increases carried out in April 2018 following the IPO on the Nasdaq Global Market. The capital increases were made through American Depositary Shares (“ADS”), with each ADS representing 1/4 of a MorphoSys ordinary share. A total of 2,075,000 new shares were issued from Authorized Capital 2017-II AUTHORIZED CAPITAL Compared to December 31, 2017, the number of authorized ordinary shares increased from 14,579,885 to 14,684,291. This overall change comprised a decline in the number of authorized ordinary shares as a result of the two capital increases from Authorized Capital 2017-II 2018-I 2017-II 2018-I, no-par-value Pursuant to the Company’s articles of association, the shareholders may authorize the Management Board to increase the share capital with the consent of the Supervisory Board within a period of five years by issuing shares for a certain total amount, which are referred to as authorized capital (genehmigtes Kapital) and are a concept under German law that enables the Company to issue shares without going through the process of obtaining another shareholders’ resolution. The aggregate nominal amount of the authorized capital created by the shareholders may not exceed half of the share capital existing at the time of registration of the authorized capital with the commercial register. CONDITIONAL CAPITAL The number of ordinary shares of conditional capital compared to December 31, 2017 decreased from 6,491,683 to 6,459,146 shares due to the exercise of 32,537 conversion rights in 2018. The reduction in ordinary shares of conditional capital through the exercise of 32,537 conversion rights was entered in the commercial register in February 2019. The shareholders may resolve to amend or create conditional capital (Bedingtes Kapital). However, they may do so only to issue conversion or subscription rights to holders of convertible bonds, in preparation for a merger with another company or to issue subscription rights to employees and members of the Management Board of the Company or of an affiliated company by way of a consent or authorization resolution. According to German law, the aggregate nominal amount of the conditional capital created at the shareholders’ meeting may not exceed half of the share capital existing at the time of the shareholders’ meeting adopting such resolution. The aggregate nominal amount of the conditional capital created for the purpose of granting subscription rights to employees and members of the management of our Company or of an affiliated company may not exceed 10% of the share capital existing at the time of the shareholders’ meeting adopting such resolution. TREASURY STOCK In the years 2018 and 2017, the Group did not repurchase any of its own shares. The composition and development of this line item is listed in the following table. Number Value As of 12/31/2010 79,896 9,774 Purchase in 2011 84,019 1,747,067 As of 12/31/2011 163,915 1,756,841 Purchase in 2012 91,500 1,837,552 As of 12/31/2012 255,415 3,594,393 Purchase in 2013 84,475 2,823,625 As of 12/31/2013 339,890 6,418,018 Purchase in 2014 111,000 7,833,944 As of 12/31/2014 450,890 14,251,962 Purchase in 2015 88,670 5,392,931 Transfer in 2015 (104,890 ) (3,816,947 ) As of 12/31/2015 434,670 15,827,946 Purchase in 2016 52,295 2,181,963 Transfer in 2016 (90,955 ) (3,361,697 ) As of 12/31/2016 396,010 14,648,212 Transfer in 2017 (76,332 ) (2,821,231 ) As of 12/31/2017 319,678 11,826,981 Transfer in 2018 (38,642 ) (1,428,208 ) As of 12/31/2018 281,036 10,398,773 As of December 31, 2018, the Company held 281,036 shares of treasury stock valued at € 10,398,773, representing a decline of € 1,428,208 compared to December 31, 2017 (319,678 shares; € 11,826,981). The reason for this decline was the transfer of 17,219 shares of treasury stock to the Management Board and Senior Management Group from the 2014 Long-Term Incentive plan (LTI plan) in the amount of € 636,414. The vesting period for this LTI program expired on April 1, 2018 and all beneficiaries had or have the option within six months to receive a total of 17,219 shares. In May 2018, the Management Board, the Senior Management Group and certain employees of the Company who are not members of the Senior Management Group received a one-time In addition, a total of 1,318 treasury shares in the amount of € 48,713 were transferred to related parties. As a result, the number of MorphoSys shares owned by the Company as of December 31, 2018, was 281,036 (December 31, 2017: 319,678). The repurchased shares may be used for all purposes named in the authorization of the Annual General Meeting on May 23, 2014 and particularly for any existing or future employee participation schemes and/or to finance acquisitions. The shares may also be redeemed. ADDITIONAL PAID-IN On December 31, 2018, additional paid-in REVALUATION RESERVE On December 31, 2018, the revaluation reserve amounted to € 0 (December 31, 2017: € -105,483). OTHER COMPREHENSIVE INCOME RESERVE The other comprehensive income reserve is being reported for the first time as of January 1, 2018. On December 31, 2018, this reserve contained changes in the fair value of equity instruments through other comprehensive income in the amount of € 127,458, and currency losses from consolidation of € 83,432. The currency losses from consolidation include exchange differences from the revaluation of foreign currency financial statements of Group companies and differences between the exchange rates used in the balance sheet and profit or loss. As of December 31, 2017, the Group consisted solely of companies with financial statements prepared in euros. ACCUMULATED DEFICIT The consolidated net loss for the year of € -56,172,121 € -248,000 € -97,375,138 € -152,765,728 |
Remuneration System for the Man
Remuneration System for the Management Board and Employees of the Group | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Remuneration System for the Management Board and Employees of the Group | 7 Remuneration System for the Management Board and Employees of the Group 7.1 STOCK OPTION PLANS 7.1.1 2017 STOCK OPTION PLAN On April 1, 2017, MorphoSys established a stock option plan (SOP) for the Management Board, the Senior Management Group and selected employees of the Company who are not members of the Senior Management Group (beneficiaries). In accordance with IFRS 2, the program is considered an equity-settled share-based payment and is accounted for accordingly. The grant date was April 1, 2017 and the vesting period/performance period is four years. Each stock option grants up to two subscription rights to shares of the Company. The subscription rights vest each year by 25% within the four-year vesting period, provided that the performance criteria specified for the respective period have been 100% fulfilled. The number of subscription rights vested per year is calculated based on the key performance criteria of the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The performance criteria can be met annually up to a maximum of 200%. If the share price development falls short of the program’s performance parameters, the target achievement for that year is 0 %. The exercise price, derived from the average market price of the Company’s shares in the XETRA closing auction on the Frankfurt Stock Exchange from the 30 trading days prior to the issue of the stock options, is € 55.52. MorphoSys reserves the right to settle the exercise of stock options through newly created shares from Conditional Capital 2016-III, If a member of the Management Board ceases to hold an office at the MorphoSys Group through termination (or the Management Board member terminates the employment contract), resignation, death, injury, disability or the attainment of retirement age (receipt of a standard retirement pension, early-retirement pension or disability pension, as long as the requirements for the disability pension entitlement are met) or under other circumstances subject to the Supervisory Board’s discretion, the Management Board member (or the member’s heirs) is entitled to a precise daily pro rata amount of subscription rights. If a member of the Management Board ceases to hold an office at MorphoSys Group for good reason as defined by Section 626 (2) of the German Civil Code (BGB), all unexercised stock options will be forfeited without any entitlement to compensation. If a change of control occurs during the four-year vesting period, the stock options will become fully vested. In this case, however, the right to exercise the stock options arises only at the end of the four-year vesting period. As of April 1, 2017, a total of 81,157 stock options had been granted to the beneficiaries, of which 40,319 had been granted to the Management Board (further details can be found in the “Stock Options” table in Note 7.4 “Related Parties”), 37,660 to the Senior Management Group and 3,178 to selected Company employees who do not belong to the Senior Management Group . In 2018, personnel expenses from stock options under the Group’s 2017 SOP amounted to € 436,154 (2017: € 801,330). 7.1.2 2018 STOCK OPTION PLAN On April 1, 2018, MorphoSys established a stock option plan (SOP) for the Management Board, the Senior Management Group and selected Company employees who are not members of the Senior Management Group (beneficiaries). In accordance with IFRS 2, the program is considered an equity-settled share-based payment and is accounted for accordingly. The grant date was April 1, 2018 and the vesting period/performance period is four years. Each stock option grants up to two subscription rights to shares of the Company. The subscription rights vest each year by 25% within the four-year vesting period, provided that the performance criteria specified for the respective period have been 100% fulfilled. The number of subscription rights vested per year is calculated based on the key performance criteria of the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The program’s performance criteria can be met annually up to a maximum of 200%. If the share price development falls short of the performance parameters, the target achievement for that year is 0 %. The exercise price, derived from the average market price of the Company’s shares in the XETRA closing auction on the Frankfurt Stock Exchange from the 30 trading days prior to the issue of the stock options, is € 81.04. MorphoSys reserves the right to settle the exercise of stock options through either newly created shares from Conditional Capital 2016-III 2016-III If a member of the Management Board ceases to hold an office at the MorphoSys Group prior to the end of the four-year vesting period/performance period, the Management Board member (or the member’s heirs) is entitled to a precise daily pro rata amount of subscription rights. If a member of the Management Board ceases to hold an office at MorphoSys Group for good reason as defined by Section 626 (2) of the German Civil Code (BGB), all unexercised stock options will be forfeited without any entitlement to compensation. If a cumulative absence of more than 90 days occurs during the four-year vesting period/performance period, the beneficiary is entitled to a precise daily pro rata amount of subscription rights. Absence is defined as either a continued period of lost work time due to illness or inactivity of a beneficiary or employment relationship without continued pay. If a change of control occurs during the four-year vesting period, the stock options will become fully vested. In this case, however, the right to exercise the stock options arises only at the end of the four-year vesting period. As of April 1, 2018, a total of 67,778 stock options had been granted to beneficiaries, of which 29,312 had been granted to the Management Board (further details can be found in the “Stock Options” table in Note 7.4 “Related Parties”), 34,276 to the Senior Management Group and 4,190 to selected Company employees who do not belong to the Senior Management Group. The stated number of stock options granted is based on 100% target achievement. The fair value of the stock options on the grant date (April 1, 2018) was € 30.43 per stock option. In the period from the grant date to December 31, 2018, two beneficiaries left MorphoSys, resulting in the forfeiture of 2,136 stock options. For the calculation of personnel expenses resulting from share-based payment under the 2018 Stock Option Plan, the assumption is that four beneficiaries would leave the Company during the four-year period. In 2018, personnel expenses from stock options under the Group’s 2018 SOP amounted to € 925,635. The fair value of the stock options from the 2018 and 2017 stock option plans was determined using a Monte Carlo simulation. The expected volatility is based on the development of the share volatility of the last four years. Furthermore, the calculation of fair value equally considered the performance criteria of the absolute and relative performance of MorphoSys shares compared to the development of the Nasdaq Biotech Index and the TecDAX Index. The parameters of each program are listed in the table below. April 2017 Stock April 2018 Stock Share Price on Grant Date in € 55.07 81.05 Strike Price in € 55.52 81.04 Expected Volatility of the MorphoSys share in % 37.49 35.95 Expected Volatility of the Nasdaq Biotech Index in % 25.07 25.10 Expected Volatility of the TecDAX Index in % 16.94 17.73 Performance Term of Program in Years 4.0 4.0 Dividend Yield in % n/a n/a Risk-free Interest Rate in % between 0.03 between 0.02 7.2 CONVERTIBLE BONDS - On April 1, 2013, MorphoSys AG granted the Management Board and members of the Senior Management Group (beneficiaries) convertible bonds with a total nominal value of € 225,000, divided into 449,999 no-par-value 2008-III”. no-par-value The conversion price amounted to € 31.88 and was derived from the Company’s share price in the XETRA closing auction of the Frankfurt Stock Exchange on the trading day preceding the issue of the convertible bonds. The exercise of the conversion rights is admissible since, on at least one trading day during the lifetime of the convertible bonds, the share price of the Company has risen to more than 120% of the price in the XETRA closing auction of the Frankfurt Stock Exchange on the trading day preceding the issue of the convertible bonds. The following table shows the development of the convertible bond plans for Group employees in the 2018, 2017 and 2016 financial years. Convertible Weighted- Outstanding on January 1, 2016 449,999 31.88 Granted 0 0.00 Exercised 0 0.00 Forfeited (13,414 ) 31.88 Expired 0 0.00 Outstanding on December 31, 2016 436,585 31.88 Outstanding on January 1, 2017 436,585 31.88 Granted 0 0.00 Exercised (261,015 ) 31.88 Forfeited 0 0.00 Expired 0 0.00 Outstanding on December 31, 2017 175,570 31.88 Outstanding on January 1, 2018 175,570 31.88 Granted 0 0.00 Exercised (32,537 ) 31.88 Forfeited 0 0.00 Expired 0 0.00 Outstanding on December 31, 2018 143,033 31.88 From the grant date until December 31, 2018, one beneficiary left MorphoSys and, therefore, 13,414 convertible bonds were forfeited. As of December 31, 2018, the number of vested convertible bonds totaled 143,033 shares (December 31, 2017: 175,570 shares; December 31, 2016: 327,439 shares). The following overview includes the weighted-average exercise price as well as information on the contract duration of significant groups of convertible bonds as of December 31, 2018. Range of Exercise Prices Number Remaining Weighted- Number Weighted- € 25.00 - € 40.00 143,033 1.25 31.88 143,033 31.88 143,033 1.25 31.88 143,033 31.88 The Group recognized personnel expenses resulting from convertible bonds on a straight-line basis in accordance with IFRS 2 and IAS 32.28. The equity component of the convertible bonds is presented separately under additional paid-in 7.3 LONG-TERM INCENTIVE PROGRAMS 7.3.1 2013 LONG-TERM INCENTIVE PLAN On April 1, 2013, MorphoSys established a long-term incentive plan (LTI plan) for the Management Board and the Senior Management Group (beneficiaries). The vesting period of this plan expired on April 1, 2017. According to IFRS 2, this program is considered a share-based payment program with settlement in equity instruments and is accounted for accordingly. The LTI plan is a performance-related share plan and is paid out in ordinary shares (performance shares) of MorphoSys AG if predefined key performance criteria are achieved. The key performance criteria are based on the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. These criteria are approved annually by the Supervisory Board. The fulfillment of these criteria was set at 200 % for one year, 54 % for one year and 0 % for two years. The Supervisory Board set the “company factor” at 1.57, meaning the number of performance shares to be allocated was scaled by a factor of 1.57. This factor resulted in an adjustment of previously recognized personnel expenses of € 1.0million in the 2017 financial year. Previously, personnel expenses resulting from the 2013 LTI program were recognized based on the assumption of a company factor of 1.0. Based on these terms and the company factor, a total of 61,323 performance shares of MorphoSys AG was transferred to beneficiaries until October 2, 2017 after the expiration of the four-year vesting period. The Management Board received 36,729 performance shares (for further information, please see the tables titled “Shares” and “Performance Shares” in Item 7.4* “Related Parties”), the Senior Management Group received 21,248 performance shares and former members of the Senior Management Group who have since left the Company received 3,346 performance shares. On October 1, 2013, MorphoSys established another long-term incentive plan (LTI plan) for Senior Management Group members (beneficiaries). The vesting period of this plan expired on October 1, 2017. The terms of this plan were identical to the plan granted as of April 1, 2013. The fulfillment of the performance criteria was set at 200 % for one year, 54.8 % for one year and 0 % for two years. The Supervisory Board set the “company factor” at 1.57, meaning the number of performance shares to be allocated was scaled by a factor of 1.57. This factor resulted in an adjustment of previously recognized personnel expenses of € 0.02 million in the 2017 financial year. Previously, personnel expenses resulting from the 2013 LTI program were recognized based on the assumption of a company factor of 1.0. Based on these terms and the company factor, a total of 548 performance shares of MorphoSys AG was allocated to beneficiaries after the expiration of the four-year vesting period in December 2017. The Senior Management Group received all of the 548 performance shares. In 2018, personnel expenses from performance shares under the Group’s 2013 LTI plan amounted to € 0 (2017: € 1,038,639; 2016: €– 23,571). 7.3.2 2014 LONG-TERM INCENTIVE PLAN On April 1, 2014, MorphoSys established a Long-Term Incentive plan (LTI plan) for the Management Board and the Senior Management Group (beneficiaries). The vesting period of this plan expired on April 1, 2018. According to IFRS 2, this program is considered a share-based payment program with settlement in equity instruments and is accounted for accordingly. The LTI plan is a performance-related share plan and is paid out in ordinary shares (performance shares) of MorphoSys AG if predefined key performance criteria are achieved. The key performance criteria are based on the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. These criteria are approved annually by the Supervisory Board. The fulfillment of these criteria was set at 200% for one year, 54% for one year and 0% for two years. The Supervisory Board set the “company factor” at 1.0, meaning the number of performance shares to be allocated was scaled by a factor of 1.0. Based on these terms and the company factor, a total of 17,219 performance shares of MorphoSys AG was transferred to beneficiaries until October 10, 2018 after the expiration of the four-year vesting period. The Management Board received 6,969 performance shares (for further information, please see the tables titled “Shares” and “Performance Shares” in Item 7.4 “Related Parties”), the Senior Management Group received 8,216 performance shares and former members of the Management Board and Senior Management Group, who have since left the Company, received 2,034 performance shares. In 2018, personnel expenses resulting from performance shares under the Group’s 2014 LTI plan amounted to € 6.388 (2017: € 55,759; 2016: € 178.518). 7.3.3 2015 LONG-TERM INCENTIVE PLAN On April 1, 2015, MorphoSys established a Long-Term Incentive plan (LTI plan) for the Management Board and the Senior Management Group (beneficiaries). According to IFRS 2, this program is considered a share-based payment program with settlement in equity instruments and is accounted for accordingly. The LTI plan is a performance-related share plan and will be paid out in ordinary shares (performance shares) of MorphoSys AG if predefined key performance criteria are achieved. These criteria are evaluated annually by the Supervisory Board. The grant date was April 1, 2015 and the vesting/performance period is four years. If the predefined key performance criteria for the respective period are fully met, 25% of the performance shares become vested in each year of the four-year vesting period. The number of performance shares vested per year is calculated based on key performance criteria comprising the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The number of performance shares vested each year will be reduced or increased to the extent that the performance criteria of the respective year have been achieved between only 50% and 99.9% (<100%) or the achievement of the performance criteria has exceeded 100% (maximum 200%). If in one year the performance criteria are met by less than 50%, no performance shares will become vested in that year. In any case, the maximum pay-out At the end of the four-year waiting period, there is a six-month If the number of repurchased shares is not sufficient for servicing the LTI plan, MorphoSys reserves the right to pay a certain amount of the LTI plan in cash in the amount of the performance shares at the end of the vesting period, provided the cash amount does not exceed 200% of the fair value of the performance shares on the grant date. If a member of the Management Board ceases to hold an office at MorphoSys Group because of termination (or if the Management Board member terminates the employment contract), resignation, death, injury, disability, by reaching retirement age (receipt of a normal retirement pension, early-retirement pension or disability pension, as long as the requirements for the disability pension entitlement are met) or under other circumstances subject to the Supervisory Board’s discretion, the Management Board member (or the member’s heirs) is entitled to a precise daily pro rata amount of performance shares. If a member of the Management Board ceases to hold an office at MorphoSys Group for good reason as defined by Section 626 (2) of the German Civil Code (BGB) and/or as defined by Section 84 (3) of the German Stock Corporation Act (AktG), the beneficiary will not be entitled to performance shares. If a change of control occurs during the four-year vesting period, all performance shares will become fully vested. In this case, the right to receive a certain allocation of performance shares under the LTI plan occurs only at the end of the four-year vesting period. A total of 40,425 of these shares were allocated to beneficiaries on April 1, 2015 with 21,948 performance shares allocated to the Management Board (further details may be found in the table titled “Performance Shares” in Item 7.4 “Related parties”) and 18,477 performance shares to the Senior Management Group. The originalnumber of performance shares allocated was based on the full achievement of the performance criteria and a company factor of 1. Based on the performance criteria that have been met to date, the overall achievement of the target is expected to be 123.5 %. For performance criteria that have not yet been met, 100 % target achievement is assumed. Under this assumption, the total number of performance shares to be allocated at the end of the four-year holding period/performance period would currently increase to 44,599 shares. The fair value of the performance shares on the grant date (April 1, 2015) was € 61.40 per share. No dividends were included in the determination of the fair value of the performance shares because the Group does not intend to distribute any dividends in the foreseeable future. From the grant date until December 31, 2018, five beneficiaries left MorphoSys, and therefore 3,093 performance shares were forfeited. For the calculation of the personnel expenses from share-based payment under the 2015 LTI plan, it was initially assumed that one beneficiary would leave the Company during the four-year period. This assumption was updated in 2018. In 2018, personnel expenses resulting from performance shares under the Group’s 2015 LTI plan amounted to € 109,511 (2017: € 201,608: 2016: € 837.153). 7.3.4 2016 LONG-TERM INCENTIVE PLAN On April 1, 2016, MorphoSys established a Long-Term Incentive plan (LTI plan) for the Management Board and the Senior Management Group (beneficiaries). According to IFRS 2, this program is considered a share-based payment program with settlement in equity instruments and is accounted for accordingly. The LTI plan is a performance-related share plan and will be paid out in ordinary shares (performance shares) of MorphoSys AG if predefined key performance criteria are achieved. These criteria are evaluated annually by the Supervisory Board. The grant date was April 1, 2016 and the vesting/performance period is four years. If the predefined key performance criteria for the respective period are fully met, 25% of the performance shares become vested in each year of the four-year vesting period. The number of performance shares vested per year is calculated based on key performance criteria comprising the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The number of performance shares vested each year will be reduced or increased to the extent that the performance criteria of the respective year have been achieved between only 50% and 99.9% (<100%) or the achievement of the performance criteria has exceeded 100% (maximum 200%). If in one year the performance criteria are met by less than 50%, no performance shares will become vested in that year. In any case, the maximum pay-out At the end of the four-year waiting period, there is a six-month If the number of repurchased shares is not sufficient for servicing the LTI plan, MorphoSys reserves the right to pay a certain amount of the LTI plan in cash in the amount of the performance shares at the end of the vesting period, provided the cash amount does not exceed 200% of the fair value of the performance shares on the grant date. If a member of the Management Board ceases to hold an office at MorphoSys Group because of termination (or if the Management Board member terminates the employment contract), resignation, death, injury, disability, by reaching retirement age (receipt of a normal retirement pension, early-retirement pension or disability pension, as long as the requirements for the disability pension entitlement are met) or under other circumstances subject to the Supervisory Board’s discretion, the Management Board member (or the member’s heirs) is entitled precise daily pro rata amount of performance shares. If a member of the Management Board ceases to hold an office at MorphoSys Group for good reason as defined by Section 626 (2) of the German Civil Code (BGB) and/or as defined by Section 84 (3) of the German Stock Corporation Act (AktG), the beneficiary will not be entitled to performance shares. If a change of control occurs during the four-year vesting period, all performance shares will become fully vested. In this case, the right to receive a certain allocation of performance shares under the LTI plan occurs only at the end of the four-year vesting period. A total of 68,143 of these shares were allocated to beneficiaries on April 1, 2016 with 35,681 performance shares allocated to the Management Board (further details may be found in the table titled “Performance Shares” in Item 7.4 “Related parties”) and 32,462 performance shares to the Senior Management Group. The originalnumber of performance shares allocated was based on the full achievement of the performance criteria and a company factor of 1. Based on the performance criteria that have been met to date, the overall achievement of the target is expected to be 123.5 %. For performance criteria that have not yet been met, 100 % target achievement is assumed. Under this assumption, the total number of performance shares to be allocated at the end of the four-year holding period/performance period would currently increase to 68,595 shares. The fair value of the performance shares on the grant date (April 1, 2016) was € 46.86 per share. No dividends were included in the determination of the fair value of the performance shares because the Group does not intend to distribute any dividends in the foreseeable future. From the grant date until December 31, 2018, eight beneficiaries left MorphoSys, and therefore 10,998 performance shares were forfeited. For the calculation of the personnel expenses from share-based payment under the 2016 LTI plan, it was initially assumed that one beneficiary would leave the Company during the four-year period. This assumption was updated in 2018. In 2018, personnel expenses resulting from performance shares under the Group’s 2016 LTI plan amounted to € 330,727 (2017: € 663,624; 2016: € 1.483.694). 7.3.5 2017 LONG-TERM INCENTIVE PLAN On April 1, 2017, MorphoSys established another Long-Term Incentive plan (LTI plan) for the Management Board, the Senior Management Group and selected employees of the Company who are not members of the Senior Management Group (beneficiaries). According to IFRS 2, this program is considered a share-based payment program with settlement in equity instruments and is accounted for accordingly. The LTI plan is a performance-related share plan and will be paid out in ordinary shares (performance shares) of MorphoSys AG if predefined key performance criteria are achieved. The grant date was April 1, 2017 and the vesting/performance period is four years. If the predefined performance criteria for the respective period are fully met, 25% of the performance shares become vested in each year of the four-year vesting period. The number of performance shares vested per year is calculated based on key performance criteria comprising the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The performance criteria can be met annually up to a maximum of 300% and up to 200% for the entire four-year period. If the specified performance criteria are met by less than 0% in one year, no shares will be earned for that year (entitlement). In any case, the maximum pay-out At the end of the four-year vesting period, there is a six-month If the number of repurchased shares is not sufficient for servicing the LTI plan, MorphoSys reserves the right to pay a certain amount of the LTI plan in cash in the amount of the performance shares at the end of the vesting period, provided the cash amount does not exceed 200% of the fair value of the performance shares on the grant date. If a member of the Management Board ceases to hold an office at MorphoSys Group because of termination (or if the Management Board member terminates the employment contract), resignation, death, injury, disability, by reaching retirement age (receipt of a normal retirement pension, early-retirement pension or disability pension, as long as the requirements for the disability pension entitlement are met) or under other circumstances subject to the Supervisory Board’s discretion, the Management Board member (or the member’s heirs) is entitled to performance shares determined on a precise daily pro rata basis. If a member of the Management Board ceases to hold an office at MorphoSys Group for good reason as defined by Section 626 (2) of the German Civil Code (BGB) and/or as defined by Section 84 (3) of the German Stock Corporation Act (AktG), the beneficiary will not be entitled to performance shares. If a change of control occurs during the four-year vesting period, all performance shares will become fully vested. In this case, the right to receive a certain allocation of performance shares under the LTI plan occurs only at the end of the four-year vesting period. A total of 31,549 of these shares were allocated to beneficiaries on April 1, 2017 with 15,675 performance shares allocated to the Management Board (further details may be found in the table titled “Performance Shares” in Item 7.4 “Related parties”), 14,640 performance shares allocated to the Senior Management Group and 1,234 performance shares allocated to selected employees of the Company who are not members of the Senior Management Group. The originalnumber of performance shares allocated was based on the full achievement of the performance criteria and a company factor of 1. Based on the performance criteria that have been met to date, the overall achievement of the target is expected to be 150 %. For performance criteria that have not yet been met, 100 % target achievement is assumed. Under this assumption, the total number of performance shares to be allocated at the end of the four-year holding period/performance period would currently increase to 43,196 shares. The fair value of the performance shares on the grant date (April 1, 2017) was € 70.52 per share. From the grant date until December 31, 2018, seven beneficiaries left MorphoSys, and therefore 1,711 performance shares were forfeited. For the calculation of the personnel expenses from share-based payment under the 2017 LTI plan, the assumption is that two beneficiaries would leave the Company during the four-year period. This assumption was updated in 2018. In 2018, personnel expenses resulting from performance shares under the Group’s 2017 LTI plan amounted to € 558,446 (2017: € 1,026,037). 7.3.6 2018 LONG-TERM INCENTIVE PLAN On April 1, 2018, MorphoSys established another Long-Term Incentive plan (LTI plan) for the Management Board, the Senior Management Group and selected employees of the Company who are not members of the Senior Management Group (beneficiaries). According to IFRS 2, this program is considered a share-based payment program with settlement in equity instruments and is accounted for accordingly. The LTI plan is a performance-related share plan and will be paid out in ordinary shares (performance shares) of MorphoSys AG if predefined key performance criteria are achieved. The grant date was April 1, 2018 and the vesting/performance period is four years. If the predefined performance criteria for the respective period are fully met, 25% of the performance shares become vested in each year of the four-year vesting period. The number of performance shares vested per year is calculated based on key performance criteria comprising the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The performance criteria can be met annually up to a maximum of 300% and up to 200% for the entire four-year period. If the specified performance criteria are met by less than 0% in one year, no shares will be earned for that year (entitlement). In any case, the maximum pay-out At the end of the four-year vesting period, there is a six-month If the number of repurchased shares is not sufficient for servicing the LTI plan, MorphoSys reserves the right to pay a certain amount of the LTI plan in cash in the amount of the performance shares at the end of the vesting period, provided the cash amount does not exceed 200% of the fair value of the performance shares on the grant date. If a member of the Management Board ceases to hold an office at MorphoSys Group prior to the end of the four-year vesting period, the Management Board member (or the member’s heirs) is entitled to a precise daily pro rata amount of performance shares. If a member of the Management Board ceases to hold an office at MorphoSys Group for good reason as defined by Section 626 (2) of the German Civil Code (BGB), the beneficiary will not be entitled to performance shares. If a cumulative absence of more than 90 days occurs during the four-year vesting period/performance period, the beneficiary is entitled to a precise daily pro rata amount of performance shares. Absence is defined as either a continued period of lost work time due to illness or inactivity of a beneficiary or employment relationship without continued pay. If a change of control occurs during the four-year vesting period, all performance shares will become fully vested. In this case, the right to receive a certain allocation of performance shares under the LTI plan occurs only at the end of the four-year vesting period. A total of 20,357 of these shares were allocated to beneficiaries on April 1, 2018 with 8,804 performance shares allocated to the Management Board, 10,291 performance shares allocated to the Senior Management Group and 1,262 performance shares allocated to selected employees of the Company who are not members of the Senior Management Group. The number of performance shares allocated is based on 100% achievement of the performance criteria and a company factor of 1. The fair value of the performance shares on the grant date (April 1, 2018) was € 103.58 per share. From the grant date until December 31, |
Additional Notes
Additional Notes | 12 Months Ended |
Dec. 31, 2018 | |
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Additional Notes | OBLIGATIONS ARISING FROM OPERATING LEASES, RENTAL AND OTHER CONTRACTS The Group leases facilities and equipment under long-term operating leases. In financial years 2018 and 2017, leasing expenses amounted to € 3.2 million and € 2.6 million. Leasing expenses for the financial years 2018 and 2017 include expenses for company cars and machinery totaling € 0.2 million and € 0.2 million, respectively. The majority of these contracts can be renewed on a yearly or quarterly basis. Some of these agreements may be terminated prematurely. In 2016 a rental agreement was signed for the premises at Semmelweisstraße 7, Planegg. The contract includes a minimum rental period of ten years. The future minimum payments under non-terminable in 000’ € Rent and Other Total Up to One Year 2,935 1,577 4,512 Between One and Five Years 11,091 0 11,091 More than Five Years 8,504 0 8,504 Total 22,530 1,577 24,107 Additionally, the future payments shown in the table below may become due for outsourced studies after December 31, 2018. These amounts could be shifted or substantially lower due to changes in the study timeline or premature study termination. in million € Total Up to One Year 51.4 Between One and Five Years 45.6 More than Five Years 0.0 Total 97.0 CONTINGENT ASSETS/CONTINGENT LIABILITIES Contingent liabilities are potential obligations from past events that exist only when the occurrence of one or more uncertain future events – beyond the Company’s control – is confirmed. Current obligations can represent a contingent liability if it is not probable enough that an outflow of resources justifies the recognition of a provision. Moreover, it is not possible to make a sufficiently reliable estimate of the amount of the obligations. The Management Board is unaware of any proceedings that may result in a significant obligation for the Group and may lead to a material adverse effect on the Group’s net assets, financial position or results of operations. If certain milestones are achieved in the Proprietary Development segment, such as filing an application for an investigational new drug (IND) for specific target molecules, this may trigger milestone payments to licensors of up to an aggregate of US $ 287 million related to regulatory events and achievement of sales targets. The next milestone payment of US $ 12.5 million will presumably be due in approximately 12 to 18 months. If a partner achieves certain milestones in the Partnered Discovery segment, for example, filing an application for an investigational new drug (IND) for specific target molecules or the transfer of technology, this may trigger milestone payments to MorphoSys. However, no further details can be published since the timing, and the achievement of such milestones are uncertain. Obligations may arise from enforcing the Company’s patent rights versus third parties. It is also conceivable that competitors may challenge the patents of MorphoSys Group or MorphoSys may also come to the conclusion that MorphoSys’s patents or patent families have been infringed upon by competitors. This could prompt MorphoSys to take legal action against competitors or lead competitors to file counterclaims against MorphoSys. Currently, there are no specific indications such obligations have arisen. CORPORATE GOVERNANCE The Group has submitted the Declaration of Conformity with the recommendations of the Government Commission on the German Corporate Governance Code for the 2018 financial year under Section 161 of the German Stock Corporation Act (AktG). This declaration was published on the Group’s website (www.morphosys.com) on November 30, 2018 and made permanently available to the public. RESEARCH AND DEVELOPMENT AGREEMENTS The Group has entered numerous research and development agreements as part of its proprietary research and development activities and its partnered research strategy. The following information describes the agreements that have a material effect on the Group and the developments under the research and development agreements in the 2018 financial year. PROPRIETARY DEVELOPMENT SEGMENT In the Proprietary Development segment, partnerships are entered into as part of the Group’s strategy to develop its own drugs in its core areas of oncology and inflammatory diseases. Our partners include (in alphabetical order): Galapagos, GlaxoSmithKline, I-Mab In November 2008, MorphoSys and Galapagos announced a long-term drug discovery and co-development out-licensed On July 19, 2018, MorphoSys announced an exclusive global agreement between MorphoSys and Galapagos with Novartis Pharma AG for the development and commercialization of MOR106. Under the agreement, the companies will work together to significantly expand the existing development plan for MOR106. Novartis exclusively holds all rights to the product’s commercialization resulting from the agreement. With the signing of the agreement, all future research, development, manufacturing and marketing costs for MOR106 will be borne by Novartis. Included in this is the ongoing phase 2 trial “IGUANA” in patients with atopic dermatitis, as well as the phase 1 trial also initiated to evaluate the safety and efficacy of the subcutaneous administration of MOR106 in healthy volunteers and patients with atopic dermatitis. MorphoSys and Galapagos also intend to conduct further studies to support the development of MOR106 in atopic dermatitis. As part of this agreement, Novartis will explore the potential of MOR106 in other indications beyond atopic dermatitis. In addition to receiving financing from Novartis’ for the current and future development program for MOR106, MorphoSys and Galapagos also jointly received an upfront payment of € 95 million. Of this amount, MorphoSys recognized its 50% share of € 47.5 million as revenue in 2018. MorphoSys and Galapagos will continue to jointly receive significant milestone payments of up to approximately US $ 1 billion (based on the current euro-dollar exchange rate at the time the agreement was signed) when specific development, regulatory, commercial and revenue milestones are met. MorphoSys and Galapagos also stand to jointly receive tiered royalties ranging up to a low 10% to low 20% range of net sales. According to their 2008 agreement, MorphoSys and Galapagos will share in all payments equally (50/50). In June 2013, MorphoSys announced it had entered into a global agreement with GlaxoSmithKline (GSK) for the development and commercialization of MOR103. MOR103/GSK3196165 is MorphoSys’s proprietary HuCAL antibody against the GM-CSF In 2017, MorphoSys announced it had signed an exclusive regional licensing agreement with I-Mab I-Mab I-Mab I-Mab In the reporting year, MorphoSys announced the completion of an exclusive strategic development collaboration and regional licensing agreement with I-Mab I-Mab I-Mab I-Mab mid-single-digit I-Mab. I-Mab low-single-digit I-Mab out-licensing In August 2015, MorphoSys announced a strategic alliance in the field of immuno-oncology with the German company Immatics Biotechnologies GmbH. The alliance was formed to develop novel antibody-based therapies against a variety of cancer antigens that are recognized by T cells. The alliance agreement gives MorphoSys access to several of Immatics’s proprietary tumor-associated peptides (TUMAPs). In return, Immatics receives the right to develop MorphoSys’s Ylanthia antibodies against several TUMAPs. The companies will pay each other milestone payments and royalties on commercialized products based on the companies’ development progress. In June 2014, MorphoSys and Merck KGaA announced an agreement to identify and develop therapeutic antibodies against target molecules of the class of immune checkpoints. Under this agreement, both MorphoSys and Merck Serono, the biopharmaceutical division of Merck, will co-develop In May 2016, MorphoSys and the University of Texas MD Anderson Cancer Center announced a long-term strategic alliance. With MorphoSys applying its Ylanthia technology platform, the partners will work together to identify, validate and develop novel anti-cancer antibodies through to clinical proof of concept by researching targets in a variety of oncology indications. MorphoSys and MD Anderson will conduct early clinical studies of therapeutic antibody candidates after which MorphoSys has the option to continue developing selected antibodies in later stages of clinical development for its own proprietary pipeline. In June 2010, MorphoSys AG and the US-based in-process PARTNERED DISCOVERY SEGMENT Commercial partnerships in the Partnered Discovery segment provide MorphoSys with various types of payments that are spread over the duration of the agreements or recognized in full as revenue when reaching a predefined target or milestone. These payments include upfront payments upon signature, annual license fees in exchange for access to MorphoSys’s technologies and payments for funded research to be performed by MorphoSys on behalf of the partner. In addition, MorphoSys is entitled to development-related milestone payments and royalties on product sales for specific antibody programs. Prior to the 2018 financial year, active collaborations with a number of partners had already ended because the agreements had expired. However, drug development programs initiated in the active phase are designed so that they can be continued by the partner and, therefore, still result in performance-based payments for the achievement of the defined milestones. Partnerships in the Partnered Discovery segment that ended before the beginning of 2018 but where drug development programs were still being pursued, include (in alphabetical order): Astellas, Bayer AG, Boehringer Ingelheim, Daiichi-Sankyo, Fibron Ltd. (continuation of contract with Prochon Biotech Ltd.), Janssen Biotech, Merck & Co., Novartis, OncoMed Pharmaceuticals, Pfizer, Roche and Schering-Plough (a subsidiary of Merck & Co.). Partnerships that were still active in 2018 include (in alphabetical order): GeneFrontier Corporation/Kaneka, Heptares and LEO Pharma. In the year under review, MorphoSys announced that it expanded its existing strategic alliance with LEO Pharma to include peptide-based therapeutics. The goal of the partnership is to discover new, peptide-based drugs for the treatment of diseases with high unmet medical needs and that are a valuable addition to the development pipelines of both companies. The collaboration extends the two companies’ partnership to discover and develop antibody-based therapies for dermatology, which has already been in place since November 2016. Under this agreement, LEO Pharma will select therapeutic target molecules against which MorphoSys will identify target molecules using its proprietary peptide technology platform. LEO Pharma will then either choose to further develop these target molecules or use them to create other drug candidates. LEO Pharma will retain exclusive worldwide rights to the active ingredients and be responsible for the development and commercialization of the dermatology medicines that result. MorphoSys will retain an exclusive option to secure worldwide rights to all oncology medicines stemming from the collaboration. The Group’s alliance with Novartis AG for the research and development of biopharmaceuticals came to an end in November 2017. The companies’ collaboration began in 2004 and led to the creation of several ongoing therapeutic antibody programs against a number of diseases. MorphoSys receives performance-based milestones, contingent upon the successful clinical development and regulatory approval of several products. In addition to these payments, MorphoSys is also entitled to royalties on any future product sales. SUBSEQUENT EVENTS On January 26, 2019, we announced that in our lawsuit against Janssen Biotech and Genmab A/S, the United States (U.S.) District Court of Delaware, based on a hearing held November 27, 2018, ruled in a Court Order on January 25, 2019, that the asserted claims of three MorphoSys patents with U.S. Patent Numbers 8,263,746, 9,200,061 and 9,758,590 are invalid. The Court thus granted a motion for Summary Judgement of invalidity filed by Janssen Biotech and Genmab, A/S against the three patents held by MorphoSys. As a result of this decision, the jury trial scheduled for February 2019 to consider Janssen’s and Genmab’s alleged infringement and the validity of the MorphoSys patents did not take place. On January 31, 2019 we announced that we had settled the dispute with Janssen Biotech and Genmab A/S. The parties agreed to drop the mutual claims related to the litigation: MorphoSys dismissed claims for alleged patent infringement against Janssen Biotech and Genmab A/S and agreed not to appeal from the court order dated January 25, 2019. Janssen and Genmab dismissed their counterclaims against MorphoSys. In early February 2019, we announced the appointment of David Trexler as President and Member of the Board of Directors of MorphoSys US Inc. effective February 6, 2019. Mr. Trexler will lead the further development of MorphoSys’s U.S. subsidiary with a focus on building commercial capabilities. Mr. Trexler joins MorphoSys from EMD Serono, a subsidiary of Merck KGaA, Darmstadt. AT EMD Serono, he was responsible, among other things, for establishing the first commercial organization of Merck KGaA’s oncology division in the U.S. and for the market launch of the cancer drug avelumab for the treatment of metastatic Merkel cell carcinoma. On February 19, 2019, Simon Moroney, CEO and co-founder of MorphoSys AG (informed the Company’s Supervisory Board that he has decided not to renew his contract as a member of the company’s Management Board. As a result of his decision, Dr. Moroney will step down as CEO on expiry of his current contract on June 30, 2020, or when a successor is appointed, whichever comes sooner. At the end of February 2019, our partner Janssen announced that it had received U.S. FDA approval for Tremfya® One-Press, a single-dose, patient-controlled injector for adults with moderate-to-severe plaque psoriasis. This is a device that allows patients to administer the drug subcutaneously by themselves and is thus intended to provide a higher convenience to psoriasis patients with respect to the treatment of their chronic disease. On March 7, 2019 MorphoSys announced that during the first quarter of 2019, the Company in agreement with the FDA implemented an amendment of the B-MIND study by introducing a co-primary endpoint into the trial. The scientific rationale for the amendment is based on published literature as well as MorphoSys’s own pre-clinical data, which indicate that MOR208 might be particularly active in patients who can be characterized by the presence of a certain biomarker. Discussions with the FDA regarding the biomarker assay are currently being planned and are expected to take place in the middle of 2019. The pre-planned, event-driven interim analysis of B-MIND remains projected to take place in the second half of 2019. Depending on the outcome of the interim analysis, an increase from 330 to 450 patients may be required, in which case an event-driven primary analysis of the study is expected in the first half of 2021. RESPONSIBILITY STATEMENT To the best of our knowledge, and in accordance with the applicable reporting principles, the consolidated financial statements give a true and fair view of the Group’s net assets, financial position and results of operations, and the group management report provides a fair review of the development and performance of the business and the position of the Group together with a description of the principal opportunities and risks associated with the Group’s expected development. Planegg, March 13, 2019 Dr. Simon Moroney Jens Holstein Chief Executive Officer Chief Financial Officer Dr. Malte Peters Dr. Markus Enzelberger Chief Development Officer Chief Scientific Officer |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
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BASIS OF AND CHANGES IN ACCOUNTING STANDARDS | 2.1 BASIS OF AND CHANGES IN ACCOUNTING STANDARDS 2.1.1 BASIS OF APPLICATION These consolidated financial statements were prepared in accordance with the International Financial Reporting Standards (“IFRS”), taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (IFRS IC). We have applied all standards and interpretations that were in force as of December 31, 2018 and adopted by the European Union (EU). As of December 31, 2018, there were no standards or interpretations that affected our consolidated financial statements for the years ended December 31, 2018 and 2017 that were in effect but not yet endorsed into European law. As a result, our consolidated financial statements comply with both the IFRSs published by the International Accounting Standards Board (IASB) and those adopted by the EU. These consolidated financial statements also take into account the supplementary provisions under commercial law, which must be applied in accordance with Section 315e (1) of the German Commercial Code (Handelsgesetzbuch – HGB). These consolidated financial statements as of December 31, 2018 and 2017 and for each of the years in the three years period ended December 31, 2018, comprise MorphoSys AG and its subsidiaries (collectively referred to as the “MorphoSys Group” or the “Group”). In preparing the consolidated financial statements in accordance with IFRS, the Management Board is required to make certain estimates and assumptions, which have an effect on the amounts recognized in the consolidated financial statements and the accompanying Notes. The actual results may differ from these estimates. The estimates and the underlying assumptions are subject to continuous review. Any changes in estimates are recognized in the period in which the changes are made and in all relevant future periods. The annual financial statements of the foreign Group companies are prepared in their respective functional currencies and converted into the euro prior to their consolidation. The consolidated financial statements were prepared in euros. The financial statements are prepared on the basis of historical cost, with the exception of derivative financial instruments and financial assets at fair value, which are recognized at their respective fair value. All figures in this report have been rounded to the nearest euro, thousand euros or million euros. The line item “cost of sales” in profit or loss was first introduced in the third quarter of 2018 and includes the expenses related to the provision of services for the transfer of projects to customers. The rationale for introducing this item is the generally increasing significance of this item in the course of the Group’s planned business development. In 2017 and 2016, there were no material comparable transactions to be reported under this item. Since January 1, 2018, the Group has reported the line item “selling expenses” separately under “operating expenses” in profit or loss. The reason for introducing this new line item and the concomitant changes to the presentation of existing items is the increasing importance of marketing expenses in connection with the preparations planned for the commercialization of MOR208. To ensure comparability of the information, the previous year’s figures have been adjusted accordingly. The disclosure of selling expenses resulted in a change in the recording of research and development and general and administrative expenses in 2017, which reduced these items in 2017 by € 3.5 million and € 1.3 million and in 2016 by € 1.7 million and € 0.7 million, respectively. The corresponding amounts are now reported in “selling expenses”. Unless stated otherwise, the accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements. 2.1.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES The accounting principles applied generally correspond to the policies used in the prior year. NEW AND REVISED STANDARDS AND INTERPRETATIONS APPLIED FOR THE FIRST TIME IN THE FINANCIAL YEAR Standard / Interpretation Mandatory Adopted by Impact on IFRS 9 Financial Instruments 01/01/2018 yes yes IFRS 15 and IFRS 15 (A) Revenue from Contracts with Customers 01/01/2018 yes yes IFRS 2 (A) Classification and Measurement of Share-based Payment Transactions 01/01/2018 yes yes IFRS 4 (A) Applying IFRS 9 ‘Financial Instruments’ with IFRS 4 ‘Insurance Contracts’ 01/01/2018 yes none IFRS 15 (C) Revenue from Contracts with Customers 01/01/2018 yes yes IAS 40 (A) Transfers of Investment Property 01/01/2018 yes none IFRIC 22 Foreign Currency Transactions and Advance Consideration 01/01/2018 yes none Annual Improvements to IFRS Standards 2014 – 2016 Cycle 01/01/2018 yes none (A) Amendments (C) Clarifications The impact of the amendments to IFRS 2 on the consolidated financial statements is deemed not to be material. IFRS 9 – FINANCIAL INSTRUMENTS As of January 1, 2018, the Group has been applying the new standard for financial instruments, IFRS 9. In this context, the exception granted by IFRS 9 Section 7.2.15 is applied for the transitional provisions for classification and measurement according to which the adjustment of prior year figures is not required. Financial instruments were accounted for in accordance with IAS 39 in fiscal years 2017 and 2016. The Group applied the provisions of IAS 39 on the classification, recognition, measurement and derecognition of financial instruments. As of January 1, 2018, financial instruments, namely money market funds, previously reported in accordance with IAS 39 until December 31, 2017, in the balance sheet item “available-for-sale Financial instruments, namely term deposits with fixed and variable interest rates as well as corporate bonds, previously classified in accordance with IAS 39 as “financial assets classified as loans and receivables” until December 31, 2017, are now presented in the balance sheet item “other financial assets at amortized cost” in accordance with IFRS 9. At the date of initial application the Group’s business model is to hold these financial instruments for collection of contractual cash flows, and the cash flows represent solely payments of principal and interest on the principal amount. in 000’ € Available-for-sale Financial Assets at Financial Assets Other Financial Balance as of December 31, 2017 86,538 0 149,059 0 Reclassifications of “Available-for-sale (86,538 ) 86,538 0 0 Reclassifications of “Financial Assets classified as Loans and Receivables” to “Other Financial Assets at Amortized Cost” 0 0 (149,059 ) 149,059 Impairment 0 0 0 (136 ) Balance as of January 1, 2018 0 86,538 0 148,923 As of January 1, 2018, there was no difference between the previous carrying amounts of financial instruments in accordance with IAS 39 and the carrying amounts in accordance with IFRS 9. As a result, no change in value has been recognized in accumulated deficit as of January 1, 2018. For financial instruments classified as “at amortized cost”, impairment losses for the expected twelve-month loss were recognized in accumulated deficit as of January 1, 2018. For financial instruments previously classified as “available-for-sale in 000’ € Revaluation Accumulated Balance as of December 31, 2017 (105 ) 0 Reclassifications of “Available-for-sale 105 (105 ) Balance as of January 1, 2018 0 (105 ) The group recognized impairments on financial instruments in accordance with the incurred loss model of IAS 39 until December 31, 2017, by recognizing an allowance once objective evidence of impairment occurred. On January 1, 2018, an expected twelve-month loss for financial instruments, namely for the cash and cash equivalents as well as the term deposits, amounting to € 0.1 million, was recognized as strictly required by IFRS 9. All of these debt investments at amortized cost are considered to have a low credit risk, and the risk provision recognized was therefore limited to twelve-month expected losses. For accounts receivable, the simplified impairment model was applied, which requires expected lifetime losses to be recognized. This resulted in a risk provision of € 0.1 million as of January 1, 2018. Impairment General Simplified Impairment Accumulated in 000’ € Stage 1 Stage 2 Stage 3 Stage 2 Stage 3 Balance as of December 31, 2017 0 0 0 0 0 0 0 Other Financial Assets at Amortized Cost 0 (136 ) 0 0 0 0 (136 ) Accounts Receivable 0 0 0 0 (112 ) 0 (112 ) Balance as of January 1, 2018 0 (136 ) 0 0 (112 ) 0 (248 ) MorphoSys did not apply hedge accounting under IAS 39 as of December 31, 2017, nor during the year 2018, therefore the first time application of IFRS 9 has no impact on the accounting of hedging relationships. IFRS 15 – REVENUE FROM CONTRACTS WITH CUSTOMERS Since January 1, 2018, the Group has been applying IFRS 15, the new accounting standard governing revenue recognition, using the modified retrospective method. Using this method requires that the cumulative effects of the first adoption of IFRS 15 to be recognized in accumulated deficit as of January 1, 2018 without an adjustment of previous periods. Hence, deferred revenue and accumulated deficit each decreased by € 1.1 million. This effect resulted from license payments which, under IFRS 15, are to be realized at a specific point in time rather than over a period of time, as was the case under IAS 18. in 000’ € Current Portion of Contract Liability, Accumulated Deficit Balance as of December 31, 2017 1,389 306 0 Application of IFRS 15 (1,041 ) (94 ) 1,135 Balance as of January 1, 2018 348 212 1,135 Had revenues in the 2018 financial year continued to be recognized in accordance with IAS 18, revenues would have been € 1.1 million higher. This reflects the aforementioned effect as of January 1, 2018, which would have been fully realized as revenue until December 31, 2018, without the application of the new IFRS 15 standard. For the revenue realized under IFRS 15 in the 2018 financial year, the accounting under IAS 18 would have resulted in revenue recognition in the same amount and at the same point in time. Accounting principles for accounts receivable assets are presented in Items 2.4.2, 2.5.1 and 2.8.2 of these Notes. As of January 1, 2018, contract liabilities as defined by IFRS 15 rather than deferred revenue were recorded in the consolidated balance sheet. The accounting policies that apply to contract liabilities are presented in Items 2.9.3 and 2.9.4 of the Notes. NEW AND REVISED STANDARDS AND INTERPRETATIONS THAT WERE NOT YET MANDATORY The following new and revised standards and interpretations that were not yet mandatory for the financial year or were not yet adopted by the European Union were not applied. Standards with the remark “yes” are likely to have an impact on the consolidated financial statements, and their impact is currently being assessed by the Group. Only those standards having a material impact are described in more detail. The impact on the consolidated financial statements of the amendments to IAS 1 and IAS 8 is not expected to be material and therefore these are not explained separately. Standards with the remark “none” are unlikely to have a material impact on the consolidated financial statements. Standard / Interpretation Mandatory Adopted by the Possible Impact IFRS 3 (A) Business Combinations 01/01/2020 no none IFRS 16 Leases 01/01/2019 yes yes IFRS 17 Insurance Contracts 01/01/2021 no none IFRS 9 (A) Prepayment Features with Negative Compensation 01/01/2019 yes none IAS 1 und IAS 8 (A) Definition of Material 01/01/2020 no yes IAS 19 (A) Plan Amendment, Curtailment or Settlement 01/01/2019 no none IAS 28 (A) Long-term Interests in Associates and Joint Ventures 01/01/2019 yes none IFRIC 23 Uncertainty over Income Tax Treatments 01/01/2019 yes none Amendments to References to the Conceptual Framework in IFRS Standards 01/01/2020 no none Annual Improvements to IFRS Standards 2015 – 2017 Cycle 01/01/2019 no none (A) Amendments IFRS 16 – LEASES As of January 1, 2019, the new IFRS 16 standard for leases, replaces the previous IAS 17 standard for leases, including the related interpretations (IFRIC 4, SIC-15, SIC-27). The Group reviewed IFRS 16 for its potential impact on existing lease contracts and will apply the standard for the first time as of the date of its mandatory adoption on January 1, 2019, using the modified retrospective method. The Group will not retroactively adjust comparative amounts for the year prior to first-time adoption and will recognize right-of-use For lessees, IFRS 16 introduces a uniform approach to the accounting treatment of leases, whereby assets for the right of use and liabilities for the payment obligations must be recognized in the balance sheet for all leases. The right of use is initially measured at the present value of the future lease payments plus the initial direct costs and subsequently amortized over the term of the lease. The lease liability is the present value of the lease payments that are paid during the term of the lease. For subsequent measurement, the carrying amount of the lease liabilities is compounded with the interest rate or the incremental borrowing rate underlying the lease and reduced by lease payments made. For low value lease assets or short-term leases (less than twelve months), the simplified method is applied. Under this method, the lease payments are recognized as expenses over the term of the lease. The analysis of the first-time application of IFRS 16 has shown that, as of January 1, 2019, the conversion is expected to result in the recognition of rights of us right-of-use non-current right-of-use non-current right-of-use The lease expenses currently recognized in the statement of income will be replaced by depreciation on assets and interest expenses from the compounding of lease liabilities. This means that the related costs will be presented in different line items in the statement of income and may differ in their total amount compared to the application of IAS 17. The first-time application of IFRS 16 is not expected to have a material impact on Group EBIT. Payments for the repayment of lease liabilities and payments relating to the interest portion of the lease liability will be allocated to cash flow from financing activities. |
CONSOLIDATION PRINCIPLES | 2.2 CONSOLIDATION PRINCIPLES Intercompany balances and transactions and any unrealized gains arising from intercompany transactions are eliminated when preparing consolidated financial statements pursuant to IFRS 10.B86. Unrealized losses are eliminated in the same manner as unrealized gains. Accounting policies have been applied consistently for all subsidiaries. For all contracts and business transactions between Group entities, the arm’s length principle was applied. 2.2.1 CONSOLIDATED COMPANIES AND SCOPE OF CONSOLIDATION MorphoSys AG, as the ultimate parent company, is located in Planegg, near Munich. MorphoSys AG has two wholly owned subsidiaries (collectively referred to as the “MorphoSys Group” or the “Group”): MorphoSys US Inc. (Princeton, New Jersey) and Lanthio Pharma B.V. (Groningen, The Netherlands). Additionally, MorphoSys AG’s investment in Lanthio Pharma B.V. indirectly gives it 100% ownership in LanthioPep B.V. (Groningen, The Netherlands). On July 2, 2018, MorphoSys AG established the wholly owned subsidiary, MorphoSys US Inc., under Section 102 of the General Corporation Law of the State of Delaware. Since its foundation, the company has been fully included in the MorphoSys AG scope of consolidation. Upon entry into the commercial register on June 28, 2018, and based on the merger agreement dated May 17, 2018, Sloning BioTechnology GmbH, as the transferring legal entity, was merged into MorphoSys AG, as the acquiring legal entity, with retroactive effect from January 1, 2018. The consolidated financial statements for the year ended December 31, 2018, were prepared and approved by the Management Board in its meeting on March 13, 2019, by means of a resolution. The Management Board members are Dr. Simon Moroney (Chief Executive Officer), Jens Holstein (Chief Financial Officer), Dr. Markus Enzelberger (Chief Scientific Officer) and Dr. Malte Peters (Chief Development Officer). On March 13, 2019, the Management Board authorized the consolidated financial statements for issue and passed it through to the Supervisory Board for review and authorization. 2.2.2 CONSOLIDATION METHODS The following Group subsidiaries are included in the scope of consolidation as shown in the table below. Company Purchase of Included in Lanthio Pharma B.V. May 2015 05/07/2015 LanthioPep B.V. May 2015 05/07/2015 MorphoSys US Inc. July 2018 07/02/2018 These subsidiaries are fully consolidated because they are either directly or indirectly wholly owned. MorphoSys controls these subsidiaries because it possesses full power over the investees. Additionally, MorphoSys is subject to risk exposure and has rights to variable returns from its involvement with the investees. MorphoSys also has unlimited capacity to exert power over the investees to influence their returns. The Group does not have any entities consolidated as joint ventures using the equity method as defined by IFRS 11 “Joint Arrangements”, nor does it exercise a controlling influence as defined by IAS 28 “Investments in Associates and Joint Ventures”. Assets and liabilities of fully consolidated domestic and international entities are recognized using Group-wide uniform accounting and valuation methods. The consolidation methods applied have not changed from the previous year. Receivables, liabilities, expenses and income among consolidated entities are eliminated in the consolidated financial statements. 2.2.3 BASIS OF FOREIGN CURRENCY TRANSLATION IAS 21 “The Effects of Changes in Foreign Exchange Rates” governs the accounting for transactions and balances denominated in foreign currencies. Transactions denominated in foreign currencies are translated at the exchange rates prevailing on the date of the transaction. Any resulting translation differences are recognized in profit or loss. On the reporting date, assets and liabilities are translated at the closing rate for the financial year. Any foreign exchange rate differences derived from these translations are recognized in profit or loss. Any other foreign exchange rate differences at the group level are recognized in the “Other Comprehensive Income Reserve” (stockholders’ equity). |
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT | 2.3 FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT 2.3.1 CREDIT RISK AND LIQUIDITY RISK Financial instruments in which the Group may have a concentration of credit and liquidity risk are mainly cash and cash equivalents, financial assets at fair value, with changes recognized in profit or loss, other financial assets at amortized cost, derivative financial instruments and receivables. The Group’s cash and cash equivalents are mainly denominated in euros. Financial assets at fair value, with changes recognized in profit or loss and other financial assets at amortized cost are high-quality assets. Cash, cash equivalents, financial assets at fair value, with changes recognized in profit or loss and other financial assets at amortized cost are generally held at numerous reputable financial institutions. With respect to its investments, the Group continuously monitors the financial institutions that are its counterparties to the financial instruments, as well as their creditworthiness, and does not anticipate any risk of non-performance. The changes in impairment losses for credit risks required to be recognized under IFRS 9 on the financial year’s profit or loss in the line item “impairment losses on financial assets” (see Item 2.4 of the Notes) were as follows. Negative values represent additions and positive values represent reversals of this risk provision. No utilization of impairments was recognized in 2018. The increase of this risk provision resulted from a higher volume of financial assets at amortized cost due to the cash raised in connection with the IPO on the Nasdaq and higher premiums on counterparties’ credit default swaps compared with January 1, 2018. General Impairment Model Simplified Impairment Model Total in 000’ € Stage 1 Stage 2 Stage 3 Stage 2 Stage 3 Balance as of January 1, 2018 (136 ) 0 0 (112 ) 0 (248 ) Unused Amounts Reversed 0 0 0 112 0 112 Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year (570 ) (465 ) 0 (90 ) 0 (1,125 ) Change between Impairment Stages 41 (41 ) 0 0 0 0 Amounts written off during the Year as uncollectible 0 0 0 0 0 0 Balance as of December 31, 2018 (665 ) (506 ) 0 (90 ) 0 (1,261 ) The Group recognizes impairment losses for credit risks on financial assets as of December 31, 2018 as follows. Balance Sheet Item Internal Basis for Gross Carrying Impairment Carrying Average Cash and Cash Equivalents low Expected Twelve-Month Loss 43,165 (16 ) 43,149 0.0 % Other Financial Assets at Amortized Cost low Expected Twelve-Month Loss 275,805 (649 ) 275,156 0.2 % medium Lifetime Expected Credit Losses 93,102 (506 ) 92,596 0.5 % Accounts Receivable low Lifetime Expected Credit Losses 17,823 (90 ) 17,733 0.5 % The Group is also exposed to credit risk from debt instruments that are measured at fair value in profit or loss. As of December 31, 2018, the maximum credit risk corresponded to the carrying amounts of these investments amounting to € 44.6 million. One of the Group’s policies requires that all customers who wish to transact business on credit undergo a credit assessment based on external ratings. Nevertheless, the Group’s revenue and accounts receivable are still subject to credit risk from customer concentration. The Group’s most significant single customer accounted for € 5.9 million of accounts receivables as of December 31, 2018 (December 31, 2017: € 5.1 million) or 33% of the Group’s total accounts receivable at the end of 2018. The Group’s top three single customers accounted for of 65%, 25% and 5% of the total revenue in 2018. On December 31, 2017, one customer had accounted for 45% of the Group’s accounts receivable, and the top three customers had individually accounted for 55%, 25% and 10% of the Group’s revenue in 2017. In 2016, the top three customers had individually accounted for 85%, 5% and 5% of the Group’s revenue. The carrying amounts of financial assets represented the maximum credit risk. The table below shows accounts receivables by region as of the reporting date. in € 12/31/2018 12/31/2017 Europe and Asia 13,176,523 8,838,884 USA and Canada 4,646,410 2,395,424 Other 0 0 Impairment (90,000 ) 0 Total 17,732,933 11,234,308 The following table shows the aging of accounts receivable as of the reporting date. The loss rate for accounts receivable is valued at 0.5% as of December 31, 2018. 12/31/2018 12/31/2018 12/31/2018 12/31/2018 in €; due since 0 - 30 days 30 - 60 days 60 + days Total Accounts Receivable 17,822,933 0 0 17,822,933 Impairment (90,000 ) 0 0 (90,000 ) Accounts Receivable, Net of Allowance for Impairment 17,732,933 0 0 17,732,933 12/31/2017 12/31/2017 12/31/2017 12/31/2017 in €; due since 0 - 30 days 30 - 60 days 60 + days Total Accounts Receivable 11,234,308 0 0 11,234,308 Write-off 0 0 0 0 Accounts Receivable, Net of Allowance for Impairment 11,234,308 0 0 11,234,308 On December 31, 2018 and December 31, 2017, the Group’s exposure to credit risk from derivative financial instruments was assessed as low. The maximum credit risk (is equal to carrying amount) for rent deposits on the reporting date amounted to € 0.7 million (December 31, 2017: € 1.1 million). The following table shows the maturities of accounts payable as of the reporting date. 12/31/2018 12/31/2018 12/31/2018 in €; due in Between One and More than 12 Total Trade Accounts Payable 7,215,127 0 7,215,127 Convertible Bonds due to Related Parties 71,517 0 71,517 12/31/2017 12/31/2017 12/31/2017 in €; due in Between One and More than 12 Total Trade Accounts Payable 4,621,918 0 4,621,918 Convertible Bonds due to Related Parties 87,785 0 87,785 Financial assets and financial liabilities were not netted as of December 31, 2018. There is no current legal right to offset amounts recognized against each other, to settle on a net basis or to settle an associated liability simultaneously with the realisation of an asset. There were no financial instruments pledged as collateral as of December 31, 2018. Under existing framework netting agreements, there was no netting potential as of December 31, 2018. 2.3.2 MARKET RISK Market risk represents the risk that changes in market prices, such as foreign exchange rates, interest rates or equity prices, will affect the Group’s results of operations or the value of the financial instruments held. The Group is exposed to both currency and interest rate risks. CURRENCY RISK The consolidated financial statements are prepared in euros. Whereas MorphoSys’s expenses are predominantly incurred in euros, a portion of the revenue is dependent on the prevailing exchange rate of the US dollar. Throughout the year, the Group monitors the need to hedge foreign exchange rates to minimize currency risk and addresses this risk by using derivative financial instruments. Under the Group’s hedging policy, highly probable cash flows and definite foreign currency receivables collectible within a twelve-month period are tested to determine if they should be hedged. MorphoSys had begun using foreign currency options and forwards to hedge its foreign exchange risk against US dollar receivables in 2003. For derivatives with a positive fair value, unrealized gains are reported in other receivables and for derivatives with a negative fair value, unrealized losses are reported in other liabilities. As of December 31, 2018, there were nine unsettled forward rate agreements with terms ranging from one month to nine months (December 31, 2017: twelve unsettled forward rate agreements; December 31, 2016: ten unsettled forward rate agreements). The unrealized gross gains from these agreements amounted to € 0.1 million as of December 31, 2018, and were reported in the finance result (December 31, 2017: € 0.3 million unrealized gross loss; December 31, 2016: less than € 0.1 million unrealized gross gain). The table below shows the Group’s exposure to foreign currency risk based on the items’ carrying amounts. as of December 31, 2018; in € EUR US$ Other Impairment Total Cash and Cash Equivalents 38,732,565 6,743,271 0 (16,000 ) 45,459,836 Financial Assets at Fair Value through Profit or Loss 34,971,116 9,610,148 0 0 44,581,264 Other Financial Assets at Amortized Cost 365,823,783 0 0 (1,152,000 ) 364,671,783 Accounts Receivable 17,570,035 252,898 0 (90,000 ) 17,732,933 Restricted Cash (included in Other Current Assets) 772,425 12,901 0 (3,000 ) 782,326 Accounts Payable and Accruals (43,638,268 ) (1,122,347 ) 0 0 (44,760,615 ) Total 414,231,656 15,496,871 0 (1,261,000 ) 428,467,527 as of December 31, 2017; in € EUR US$ Other Impairment Total Cash and Cash Equivalents 74,289,250 2,299,879 0 0 76,589,129 Available-for-sale 86,538,195 0 0 0 86,538,195 Financial Assets classified as Loans and Receivables 149,059,254 0 0 0 149,059,254 Accounts Receivable 11,199,652 34,656 0 0 11,234,308 Restricted Cash (included in Other Current Assets) 1,132,782 0 0 0 1,132,782 Accounts Payable and Accruals (44,655,328 ) (156,390 ) 0 0 (44,811,718 ) Gesamt 277,563,805 2,178,145 0 0 279,741,950 Various foreign exchange rates and their impact on assets and liabilities were simulated in an in-depth A 10% increase in the euro versus the US dollar as of December 31, 2017, would have reduced the Group’s income by € 0.2 million. A 10% decline in the euro versus the US dollar would have increased the Group’s income by € 0.2 million. A 10% increase in the euro versus the US dollar as of December 31, 2016, would have reduced the Group’s income by less than € 0.1million. A 10% decline in the euro versus the US dollar would have increased the Group’s income by less than € 0.1million. INTEREST RATE RISK The Group’s risk exposure to changes in interest rates mainly relates to fixed term deposits and corporate bonds. Changes in the general level of interest rates may lead to an increase or decrease in the fair value of these securities. The Group’s investment focus places the safety of an investment ahead of its return. Interest rate risks are limited because all securities can be liquidated within a maximum of two years and due tothe partially fixed interest commitment during the term. Different interest rates and their effects on existing investments with variable interest rates were simulated in a detailed sensitivity analysis in order to determine the effects on profit or loss. An increase of the variable interest rate by 0.5 % would have increased the Group’s result by € 0.4 million as of December 31, 2018 (December 31, 2017: € 0.6 million; December 31, 2016: € 0.3 million). A decrease of the variable interest rate by 0.5 % would have reduced the Group’s result by € 0.1 million as of December 31, 2018 (December 31, 2017: € 0.4 million; December 31, 2016: € 0.5 million). Changes in the interest rate had no material impact on equity as of December 31, 2017 or December 31, 2016. The Group is not subject to significant interest rate risks from the liabilities currently reported in the balance sheet. 2.3.3 FAIR VALUE HIERARCHY AND MEASUREMENT PROCEDURES The IFRS 13 “Fair Value Measurement” guidelines must always be applied when measurement at fair value is required or permitted or disclosures regarding measurement at fair value are required based on another IAS/IFRS guideline. The fair value is the price that would be achieved for the sale of an asset in an arm’s length transaction between independent market participants or the price to be paid for the transfer of a liability (disposal or exit price). Accordingly, the fair value of a liability reflects the default risk (i.e., own credit risk). Measurement at fair value requires that the sale of the asset or the transfer of the liability takes place on the principal market or, if no such principal market is available, on the most advantageous market. The principal market is the market a company has access to that has the highest volume and level of activity. Fair value is measured by using the same assumptions and taking into account the same characteristics of the asset or liability as would an independent market participant. Fair value is a market-based, not an entity-specific measurement. The fair value of non-financial MorphoSys applies the following hierarchy in determining and disclosing the fair value of financial instruments: Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities to which the Company has access. Level 2: Inputs other than quoted prices included within Level 1 that are observable for assets or liabilities, either directly (i.e., as prices) or indirectly (i.e., derived from prices). Level 3: Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs). The carrying amounts of financial assets and liabilities, such as other financial assets at amortized cost, as well as accounts receivable and accounts payable, approximate their fair value because of their short-term maturities. HIERARCHY LEVEL 1 The fair value of financial instruments traded in active markets is based on the quoted market prices on the reporting date. A market is considered active if quoted prices are available from an exchange, dealer, broker, industry group, pricing service or regulatory body that is easily and regularly accessible and prices reflect current and regularly occurring market transactions at arm’s length conditions. For assets held by the Group, the appropriate quoted market price is the buyer’s bid price. These instruments fall under Hierarchy Level 1 (see Item 5.2 of the Notes). HIERARCHY LEVEL 2 AND 3 The fair value of financial instruments not traded in active markets can be determined using valuation methods. In this case, fair value is estimated using the results of a valuation method that makes maximum use of market data and relies as little as possible on entity-specific inputs. If all significant inputs required for measuring fair value by using valuation methods are observable, the instrument is allocated to Hierarchy Level 2. If significant inputs are not based on observable market data, the instrument is allocated to Hierarchy Level 3. Hierarchy Level 2 contains forward exchange contracts to hedge exchange rate fluctuations, term deposits and restricted cash. Future cash flows for these forward exchange contracts are determined based on forward exchange rate curves. The fair value of these instruments corresponds to their discounted cash flows. The fair value of the term deposits and restricted cash is determined by discounting the expected cash flows at market interest rates. Financial assets belonging to Hierarchy Level 3 are shown in Item 5.7 of the Notes to the Consolidated Financial Statements. No financial liabilities were assigned to Hierarchy Level 3, and there were no Hierarchy Level 3 balance sheet items measured at fair value in 2017. There were no transfers from one fair value hierarchy level to another in 2018 or 2017. The table below shows the fair values of financial assets and liabilities and the carrying amounts presented in the consolidated balance sheet. December 31, 2018 in 000’ € Note Hierarchy Level Not classified into a Category Financial Assets at Amortized Financial Assets at Cash and Cash Equivalents 5.1 * 45,460 0 Financial Assets at Fair Value through Profit or Loss 5.2 1 0 44,581 Other Financial Assets at Amortized Cost 5.2 * 268,923 0 Accounts Receivable 5.3 * 17,733 0 Other Receivables thereof Financial Assets * 81 thereof Forward Exchange Contracts used for Hedging 5.4 2 0 66 Current Assets 332,197 44,647 Other Financial Assets at Amortized Cost, Net of Current Portion 5.2 2 95,749 0 Shares at Fair Value through Other Comprehensive Income 5.8 3 0 0 Prepaid Expenses and Other Assets, Net of Current Portion 5.9 thereof Non-Financial n/a 2,271 thereof Restricted Cash 2 711 0 Non-current 2,271 96,460 0 Total 2,271 428,657 44,647 Accounts Payable and Accruals 6.1 * 0 0 Current Liabilities 0 0 Convertible Bonds – Liability Component 2 0 0 Non-current 0 0 Total 0 0 * Declaration waived in accordance with IFRS 7.29 (a). For these instruments the carrying amount is a reasonable approximation of fair value. Financial Assets at Financial Liabilities Financial Liabilities at Total Carrying Amount Fair value 0 0 0 45,460 * 0 0 0 44,581 44,581 0 0 0 268,923 * 0 0 0 17,733 * 147 81 * 0 0 0 66 66 0 0 0 376,844 0 0 0 95,749 95,749 232 0 0 232 0 2,982 2,271 n/a 0 0 0 711 701 232 0 0 98,963 232 0 0 475,807 0 (44,761 ) 0 (44,761 ) * 0 (44,761 ) 0 (44,761 ) 0 (72 ) 0 (72 ) (72 ) 0 (72 ) 0 (72 ) 0 (44,833 ) 0 (44,833 ) December 31, 2017 in 000’ € Note Hierarchy Level Not classified into a Loans and Receivables Cash and Cash Equivalents 5.1 * 76,589 Available-for-sale 5.2 1 0 Financial Assets classified as Loans and Receivables 5.2 * 149,059 Accounts Receivable 5.3 * 11,234 Other Receivables 5.4 * 85 Prepaid Expenses and Other Current Assets thereof Non-Financial n/a 15,788 thereof Restricted Cash 5.5 * 432 Current Assets 15,788 237,399 Prepaid Expenses and Other Assets, Net of Current Portion 5.9 thereof Non-Financial n/a 2,643 thereof Restricted Cash 2 701 Non-current 2,643 701 Total 18,431 238,100 Accounts Payable and Accruals 6.1 * 0 Other Provisions thereof Non-Financial n/a (886 ) thereof Forward Exchange Contracts used for Hedging 2 0 Current Liabilities (886 ) 0 Convertible Bonds – Liability Component 2 0 Non-current 0 Total (886 ) 0 * Declaration waived in line with IFRS 7.29 (a). For these instruments carrying amount is a reasonable approximation of fair value. Available-for-sale Other Financial Total Carrying Fair value 0 0 76,589 * 86,538 0 86,538 86,538 0 0 149,059 * 0 0 11,234 * 0 0 85 * 16,220 15,788 n/a 0 0 432 * 86,538 0 339,725 3,344 2,643 n/a 0 0 701 701 0 0 3,344 86,538 0 343,069 0 (44,812 ) (44,812 ) * (1,186 ) (886 ) n/a 0 (300 ) (300 ) (300 ) 0 (45,112 ) (45,998 ) 0 (88 ) (88 ) (88 ) 0 (88 ) (88 ) 0 (45,200 ) (46,086 ) |
IMPAIRMENTS | 2.4 IMPAIRMENTS 2.4.1 FINANCIAL INSTRUMENTS As of January 1, 2018, the Group assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost, namely term deposits with fixed and variable interest rates as well as corporate bonds. The impairment method applied depends on whether there has been a significant increase in credit risk. If, at the reporting date, the credit risk of a financial instrument has not increased significantly since initial recognition, the Group measures the loss allowance for that financial instrument at an amount equal to twelve-month expected credit losses (Level 1). In case the credit risk of a financial instrument has increased significantly since initial recognition, the Group measures the loss allowance for that financial instrument at an amount equal to the lifetime expected credit losses. The Group currently classifies an increase in credit risk on debt instruments as significant if the premium on a counterparty credit default swap exceeds 100 basis points at the reporting date (Level 2). If there is an objective indication of impairment, the interest received must also be adjusted so that as of that date the interest is accrued on the basis of the net carrying amount (carrying amount less risk provisions) of the financial instrument (Level 3). Objective evidence of a financial instrument’s impairment may arise from material financial difficulties of the issuer or the borrower, a breach of contract such as a default or delay in interest or principal payments, an increased likelihood of insolvency or other remediation process, or from the disappearance of an active market for a financial asset due to financial difficulties. Financial instruments are derecognized when it can be reasonably expected that they will not be recovered and when one of the objective evidences occurs. Impairment of financial intruments is reported under impairment losses on financial assets. 2.4.2 RECEIVABLES In the case of accounts receivable, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognized from the initial recognition of the receivables (Level 2). In the case of insufficient reason to expect recovery, the expected loss shall be calculated as the difference between the gross carrying amount and the present value of the expected cash flows discounted at the original effective interest rate (Level 3). An indicator that there is insufficient reason to expect recovery includes a situation, among others, when internal or external information indicates that the Group will not fully receive the contractual amounts outstanding. All accounts receivable were aggregated to measure the expected credit losses as they all share the same credit risk characteristics. All accounts receivable are currently due from customers in the same industry and are therefore exposed to the same credit risks. The impairment is determined on the basis of the premium for an industry credit default swap. In the event that accounts receivable cannot be grouped together, they are measured individually. Accounts receivable are derecognized when it can be reasonably expected that they will not be recovered. Impairment of accounts receivable is reported under other expenses. If in subsequent periods amounts are received that were previously impaired, these amounts are recognized in other income. 2.4.3 NON-FINANCIAL The carrying amounts of the Group’s non-financial non-financial The recoverable amount of an asset or CGU is the greater of its value-in-use value-in-use, pre-tax pre-tax The Group’s corporate assets do not generate separate cash flows and are utilized by more than one CGU. Corporate assets are allocated to CGUs on a reasonable and consistent basis and are tested for impairment as part of the impairment testing of the CGU that was allocated the corporate asset. Impairment losses are recognized in profit or loss. Goodwill impairment cannot be reversed. For all other assets, impairment recognized in prior periods is assessed on each reporting date for any indications that the losses decreased or no longer exist. Impairment is reversed when there has been a change in the estimates used to determine the recoverable amount. Impairment losses can only be reversed to the extent that the asset’s carrying amount does not exceed the carrying amount net of depreciation or amortization that would have been determined if an impairment had not been recognized. |
ADDITIONAL INFORMATION | 2.5 ADDITIONAL INFORMATION 2.5.1 KEY ESTIMATES AND ASSUMPTIONS Estimates and judgments are continually evaluated and based on historical experience and other factors that include expectations of future events that are believed to be realistic under the prevailing circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting-related estimates will, by definition, seldom correspond to the actual results. The estimates and assumptions that carry a significant risk of causing material adjustments to the carrying amounts of assets and liabilities in the next financial year are addressed below. REVENUE Revenues from milestones, royalties and contracts with multiple performance obligations are subject to assumptions regarding probabilities of occurrence and individual selling prices within the scope of the accounting and measurement principles explained in Note 2.7.1. FINANCIAL ASSETS Impairment losses on financial assets in the form of debt instruments and accounts receivable are based on assumptions about credit risk. The Group exercises discretion in making these assumptions and in selecting the inputs to calculate the impairment based on past experience, current market conditions and forward-looking estimates at the end of each reporting period. IN-PROCESS The Group performs an annual review to determine whether in-process in-process value-in-use INCOME TAXES The Group is subject to income taxes in a number of tax jurisdictions. Due to the increasing complexity of tax laws and the corresponding uncertainty regarding the legal interpretation by the fiscal authorities, tax calculations are generally subject to an elevated amount of uncertainty. To the extent necessary, possible tax risks are taken into account in the form of provisions. Deferred tax assets on tax loss carryforwards are recognized based on the expected business performance of the relevant Group entity. For details on tax loss carryforwards and any recognized deferred tax assets, please refer to Item 4.4 in the Notes. 2.5.2 CAPITAL MANAGEMENT The Management Board’s policy for capital management is to preserve a strong and sustainable capital base in order to maintain the confidence of investors, business partners, and the capital market and to support future business development. As of December 31, 2018, the equity ratio was 90.6% (December 31, 2017: 86.3%; see also the following overview). The Group does not currently have any financial liabilities. Under the respective incentive plans resolved by the Annual General Meeting, the Management Board and employees may participate in the Group’s performance through long-term performance-related remuneration consisting of convertible bonds issued in 2013 and stock option plans (SOP) set up in 2017 and 2018. MorphoSys also established Long-Term Incentive plans (LTI plan) in 2014, 2015, 2016, 2017 and 2018. These programs are based on the performance-related issue of shares, or “performance shares”, which are granted when certain predefined success criteria have been achieved and the vesting period has expired (for more information, please refer to Item 7.3 in the Notes). There were no changes in the Group’s approach to capital management during the year. in 000’ € 12/31/2018 12/31/2017 Stockholders’ Equity 488,373 358,671 In % of Total Capital 90.6 % 86.3 % Total Liabilities 50,391 56,727 In % of Total Capital 9.4 % 13.7 % Total Capital 538,764 415,398 |
USE OF INTEREST RATES FOR MEASUREMENT | 2.6 USE OF INTEREST RATES FOR MEASUREMENT The Group uses interest rates to measure fair value. When calculating share-based payment, MorphoSys uses the interest rate on four-year German government bonds on the date the share-based payment was granted. |
ACCOUNTING POLICIES APPLIED TO LINE ITEMS OF PROFIT OR LOSS | 2.7 ACCOUNTING POLICIES APPLIED TO LINE ITEMS OF PROFIT OR LOSS 2.7.1 REVENUES AND REVENUE RECOGNITION As of January 1, 2018, the Group has adopted IFRS 15, the new accounting standard governing revenue recognition, using the modified retrospective method. The application of IFRS 15 requires a five-stage approach: • Identification of the contract • Identification of performance obligations • Determination of the transaction price • Allocation of the transaction price • Revenue recognition The Group’s revenues typically include license fees, milestone payments, service fees, and royalties. LICENSE FEES AND MILESTONE PAYMENTS The Group recognizes revenues from license fees for intellectual property (IP) both at a point in time and over a period of time. An assessment needs to be made as to whether such a license represents a right to use (at a point in time) or a right to access (over time). Revenue for a right to use a license is recognized by the Group when the customer can use the IP and benefit from it as well as when the license term begins, e.g. for outlicensing of a drug candidate or technology without any further obligations for the Group. A license is treated as a right to access if the Group will undertake activities that significantly affect the IP during the license term, and the customer is directly exposed to any positive or negative effects of these activities, and these activities do not result in the transfer of a good or service to the customer. Revenues from right to access licenses are recognized linear over the license term. Milestone payments for research and development are contingent upon occurrence of a future event and represent variable consideration. The Group determines that at contract inception the most likely amount for milestone payments is zero. The most likely amount method of estimation is considered to be the most predictive for the outcome, since the outcome is binary, such as achieving a certain success in clinical development (or not). The Group will recognize milestone payments as revenue when it is highly unlikely that there will be a material reversal of cumulative revenue in future periods. Sales-based milestone payments included in contracts for licenses of IP are considered by the Group to be sales-based license fees because they are solely determined by sales of an approved drug. Accordingly, such milestones are recognized as revenue once sales of such drug occur or later if the performance obligation has not been fulfilled. SERVICE FEES Service fees for the assignment of personnel in research and development collaborations are recognized as revenues in the period the services are provided. In case a Group company acts as agent, revenues are recognized on a net basis. ROYALTIES With regard to royalties (income based on a percentage of sales of a marketed product), the same revenue recognition principles apply as for sales-based milestones as described above. AGREEMENTS WITH MULTIPLE PERFORMANCE OBLIGATIONS A Group company may enter into agreements with multiple performance obligations that include both licenses and services. In such cases, it has to be assessed as to whether the license is distinct from services (or other performance obligations) provided under the same agreement. The transaction price is allocated to separate performance obligations based on the relative stand-alone selling price of the performance obligations in the agreement. The Group company estimates stand-alone selling prices for non-individually PRINCIPLE-AGENT RELATIONSHIPS In agreements involving two or more independent parties that contribute to the provision of a specific good or service to a customer, a Group company assesses as to whether it has promised to provide the specific good or service itself (the company acting as a principal) or to arrange for this specific good or service to be provided by another party (the company acting as an agent). Depending on the result of this assessment, the Group company records revenues on a gross (principal) or net (agent) basis. A Group company is an agent and recognizes revenue on a net basis if its obligation is to arrange for another party to provide goods or services, i.e., the Group company does not control the specified good or service before it is transferred to the customer. Indicators to assist a company in determining whether it does not control the good or service before it is provided to a customer, and is therefore an agent, include, but are not limited to, the following criteria: • Another party is primarily responsible for fulfilling the contract. • The company does not have inventory risk. • The company does not have discretion in establishing the price. No single indicator is determinative or weighted more heavily than other indicators. However, some indicators may provide stronger evidence than others, depending on the individual facts and circumstances. A Group company’s control needs to be substantive, so obtaining legal title of a good or service only momentarily before it is transferred to the customer does not necessarily indicate that a Group company is a principal. In general, the assessment whether a Group company is acting as a principal or as an agent in a transaction requires significant judgement. Based on the relevant facts and circumstances, the assessment of an agreement may lead to the conclusion that the counterparty is a cooperation partner or partner rather than a customer, meaning the agreement does not fall in the scope of IFRS 15 because the parties equally share the risks of co-developing REVENUE RECOGNITION THROUGH DECEMBER 31, 2017 The group applied the revenue recognition principles of IAS 18 Revenue through December 31, 2017. The Group’s revenue included license fees, milestone payments and service fees in 2017 and 2016. Under IAS 18.9, revenues were measured at fair value of the consideration received or receivable. In accordance with IAS 18.20b, revenues were recognized only to the extent that it was sufficiently probable that the Company will have received the economic benefits associated with the transaction. LICENSE FEES AND MILESTONE PAYMENTS Revenues related to non-refundable SERVICE FEES Service fees from research and development collaborations were recognized in the period the services were provided. Discounts that were likely to be granted and whose amount could be reliably determined were recognized as a reduction in revenue at the time of revenue recognition. The timing of the transfer of risks and rewards varied depending on the terms of the sales contract. In accordance with IAS 18.21 and 18.25, revenue from multiple-component contracts was recognized by allocating the total consideration to the separately identifiable components based on their respective fair values and by applying IAS 18.20. The applicable revenue recognition criteria were assessed separately for each component. 2.7.2 OPERATING EXPENSES COST OF SALES Cost of sales is recognized as an expense in the period in which the associated revenue accrues. This line item currently includes personnel expenses only. RESEARCH AND DEVELOPMENT Research costs are expensed in the period in which they occur. Development costs are generally expensed as incurred in accordance with IAS 38.5 and IAS 38.11 to 38.23. Development costs are recognized as an intangible asset when the criteria of IAS 38.21 (probability of expected future economic benefits, reliability of cost measurement) are met and if the Group can provide proof under IAS 38.57. This line item contains personnel expenses, consumables supplies, other operating expenses, impairment charges, amortization and other costs of intangible assets (additional information can be found under Item 5.7 in the Notes), costs for external services and depreciation and other costs for infrastructure. SELLING The item includes personnel expenses, consumables, operating costs, amortization of intangible assets (software; further details in Item 5.7 of the Notes), costs for external services, infrastructure costs and depreciation. GENERAL AND ADMINISTRATIVE This line item contains personnel expenses, consumable supplies, other operating expenses, amortization of intangible assets (software; additional information can be found under Item 5.7 in the Notes), expenses for external services and depreciation and other costs for infrastructure. PERSONNEL EXPENSES RESULTING FROM STOCK OPTIONS The Group applies the provisions of IFRS 2 “Share-based Payment”, which require the Group to spread compensation expenses from the estimated fair values of share-based payments on the reporting date over the period in which the beneficiaries provide the services which triggered the granting of the share-based payments. IFRS 2 “Share-based Payment” requires the consideration of the effects of share-based payments if the Group acquires goods or services in exchange for shares or stock options (“settlement in equity instruments”) or other assets that represent the value of a specific number of shares or stock options (“cash settlement”). The key impact of IFRS 2 on the Group is the personnel expense resulting from the use of an option pricing model in relation to share-based incentives for the Management Board and employees d. Additional information can be found under Items 7.1, 7.2, 7.3 and 7.4 in the Notes. OPERATING LEASE PAYMENTS Payments made under operating leases are recognized in profit or loss on a straight-line basis over the term of the lease. According to SIC-15, All of the Group’s lease agreements are classified exclusively as operating leases. The Group did not engage in any finance lease arrangements. 2.7.3 OTHER INCOME In addition to government grants, other income primarily included currency gains from operating activities and income related to the Company’s canteen. GOVERNMENT GRANTS Grants, not repayable, received from government agencies to fund specific research and development projects are recognized in profit or loss in the separate line item “other income” to the extent that the related expenses have already occurred. Under the terms of the grants, government agencies generally have the right to audit the use of the funds granted to the Group. Basically, government grants are cost subsidies, and their recognition through profit or loss is limited to the corresponding costs. When the repayment of cost subsidies depends on the success of the development project, these cost subsidies are recognized as other liabilities until success has been achieved. If the condition for repayment is not met, then the grant is recognized under “other income”. No payments were granted in the 2018, 2017 and 2016 financial year that are required to be classified as investment subsidies. 2.7.4 OTHER EXPENSES The line item “other expenses” consisted mainly of currency losses from the operating business. 2.7.5 FINANCE INCOME AND FINANCE EXPENSES Gains and losses arising from changes in fair value, as well as interest effects from the application of the effective interest method to financial assets are recognized in profit or loss when incurred. 2.7.6 INCOME TAX EXPENSES/BENEFIT Income taxes consist of current and deferred taxes and are recognized in profit or loss unless they relate to items recognized directly in equity. Current taxes are the taxes expected to be payable on the year’s taxable income based on prevailing tax rates on the reporting date and any adjustments to taxes payable in previous years. The calculation of deferred taxes is based on the balance sheet liability method that refers to the temporary differences between the carrying amounts of assets and liabilities and the amounts used for taxation purposes. The method of calculating deferred taxes depends on how the assets’ carrying amount is expected to be realized and how the liabilities will be repaid. The calculation is based on the prevailing tax rates or those adopted on the reporting date. Deferred tax assets are offset against deferred tax liabilities if the taxes are levied by the same taxation authority and the entity has a legally enforceable right to set off current tax assets against current tax liabilities. Deferred tax assets are recognized only to the extent that it is likely that there will be future taxable income to offset. Deferred tax assets are reduced by the amount that the related tax benefit is no longer expected to be realized. 2.7.7 EARNINGS PER SHARE The Group reports basic and diluted earnings per share under consideration of IAS 33.41. Basic earnings per share is computed by dividing the net profit or loss attributable to parent company shareholders by the weighted-average number of ordinary shares outstanding during the reporting period. Diluted earnings per share is calculated in the same manner with the exception that the net profit or loss attributable to parent company shareholders and the weighted-average number of ordinary shares outstanding are adjusted for any dilutive effects resulting from stock options and convertible bonds granted to the Management Board and employees. In 2018, 2017 and 2016, diluted earnings per share equaled basic earnings per share. The effect of 120,214 potentially dilutive shares in 2018 (2017: 87,904 dilutive shares; 2016: 99,764 dilutive shares) resulting from stock options and convertible bonds granted to the Management Board, the Senior Management Group and employees of the Company who are not members of the Senior Management Group, has been excluded from the diluted earnings per share because it would result in a decrease in the loss per share and should therefore not be treated as dilutive. The 52,930 stock options not yet vested as of December 31, 2018 are not included in the calculation of potentially dilutive shares, as they are anti-dilutive for the 2018 fiscal year. These shares could possibly have a dilutive effect in the future. |
ACCOUNTING POLICIES APPLIED TO THE ASSETS OF THE BALANCE SHEET | 2.8 ACCOUNTING POLICIES APPLIED TO THE ASSETS OF THE BALANCE SHEET 2.8.1 LIQUIDITY CLASSIFICATION As of January 1, 2018, the Group classifies its financial assets (debt instruments) in the following measurement categories: those that are subsequently measured at fair value (either through other comprehensive income or profit or loss) and those that are measured at amortized cost. The classification depends on the Company’s business model with respect to the management of the financial assets and the contractual cash flows. For assets measured at fair value, gains and losses are recognized either within other comprehensive income or profit or loss. The Group only reclassifies debt instruments when the business model for managing such assets changes. The Group regards all cash at banks and on hand and all short-term deposits with a maturity of three months or less as cash and cash equivalents. The Group invests most of its cash and cash equivalents at several major financial institutions: Commerzbank, UniCredit, BayernLB, LBBW, BNP Paribas, Deutsche Bank, Sparkasse, Rabobank and Bank of America Merrill Lynch. Guarantees granted for rent deposits and obligations from convertible bonds issued to employees are recorded under other assets as restricted cash since they are not available for use in the Group’s operations. RECOGNITION AND DERECOGNITION A purchase or sale of financial assets in a manner that is customary for the market is recognized as of the trade date, which is the date on which the Group commits to buying or selling the asset. Financial assets are derecognized when the claims to receive cash flows from the financial assets expire or have been transferred, and the Group has transferred substantially all the risks and rewards of ownership. MEASUREMENT Upon initial recognition, the Group measures a financial asset at fair value plus transaction costs directly attributable to the acquisition of that asset when a financial asset is not subsequently measured at fair value in profit or loss. Transaction costs of financial assets measured at fair value through profit or loss are recognized as expenses in profit or loss. The subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the asset’s cash flow characteristics. The Group classifies its debt instruments in one of the following measurement categories. Assets that are held in order to collect the contractual cash flows and for which these cash flows represent only interest and principal payments are measured at amortized cost. Interest income from these financial assets is recognized in finance income using the effective interest method. Gains or losses on derecognition are recognized directly in profit or loss and recorded in the finance result. Impairment losses are recognized as a separate line item in profit or loss. Assets that are held to collect the contractual cash flows and to sell the financial assets and where the cash flows represent solely principle and interest payments are measured at fair value through other comprehensive income. Changes in the carrying amount are recognized in other comprehensive income, with the exception of impairment losses and income from the reversal of impairment, interest income, and foreign currency gains and losses, which are recognized in profit or loss. Upon derecognition of the financial asset, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss and is recorded in the finance result. Interest income from these financial assets is reported in finance income using the effective interest method. Foreign exchange gains and losses are shown under other income/expenses, and impairment losses are included in a separate line item in profit or loss. Assets that do not meet the criteria of the categories at amortized cost or at fair value through other comprehensive income are allocated to the category at fair value through profit or loss. Gains or losses on a debt instrument that is subsequently measured at fair value through profit or loss, are recognized on a net basis in the finance result in the period in which they occur. DERIVATIVES The Group uses derivatives to hedge its foreign exchange risk and cash flows. The use of derivatives is subject to a Group policy approved by the Management Board, which sets out a written guideline on the use of derivatives. According to the Group’s hedging policy, only highly probable future cash flows and clearly identifiable receivables that can be collected within a twelve-month period are hedged. Derivatives are initially recognized at fair value at the time of the conclusion of a derivative transaction and subsequently remeasured at fair value at the end of each reporting period. Changes in the fair value of a derivative instrument that are not accounted for as a hedging relationship are recognized directly in the finance result in profit or loss. MorphoSys did not apply hedge accounting under IAS 39 as at December 31, 2017, nor during the year 2018, therefore IFRS 9 has no impact on the recognition of hedging relationships. 2.8.2 ACCOUNTS RECEIVABLE, INCOME TAX RECEIVABLES AND OTHER RECEIVABLES Accounts receivable are measured at amortized cost less any impairment using the simplified impairment model (see Items 2.3.1, 2.4.2 and 5.3 in the Notes). Income tax receivables mainly include receivables due from tax authorities in the context of capital gain taxes withheld. Other non-derivative 2.8.3 INVENTORIES Inventories are measured at the lower value of production or acquisition cost and net realizable value under the first-in first-out 2.8.4 PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses include expenses resulting from an outflow of liquid assets prior to the reporting date that are only recognized as expenses in the subsequent financial year. Such expenses usually involve maintenance contracts, sublicenses and upfront payments for external laboratory services not yet performed. Other current assets primarily consist of receivables towards tax authorities from input tax surplus resulting from value-added taxes, combination compounds and receivables from upfront payments. This item is recognized at nominal value. 2.8.5 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is recorded at historical cost less accumulated depreciation (see Item 5.6 in the Notes) and any impairment (see Item 2.4.3 in the Notes). Historical cost includes expenditures directly related to the purchase at the time of the acquisition. Replacement purchases, building alterations and improvements are capitalized while repair and maintenance expenses are charged as expenses as they are incurred. Property, plant and equipment is depreciated on a straight-line basis over its estimated useful life (see table below). Leasehold improvements are depreciated on a straight-line basis over the lesser of the asset’s estimated useful life or the remaining term of the lease. Asset Class Useful Life Depreciation Rates Computer Hardware 3 years 33 % Low-value Immediately 100 % Permanent Improvements to Property/Buildings 10 years 10 % Office Equipment 8 years 13 % Laboratory Equipment 4 years 25 % The residual values and useful lives of assets are reviewed at the end of each reporting period and adjusted if appropriate. Borrowing costs that can be directly attributed to the acquisition, construction or production of a qualifying asset are not included in the acquisition or production costs because the Group finances the entire operating business with equity. 2.8.6 INTANGIBLE ASSETS Purchased intangible assets are capitalized at acquisition cost and exclusively amortized on a straight-line basis over their useful lives. Internally generated intangible assets are recognized to the degree the recognition criteria set out in IAS 38 are met. Development costs are capitalized as intangible assets when the capitalization criteria described in IAS 38 have been met, namely, clear specification of the product or procedure, technical feasibility, intention of completion, use, commercialization, coverage of development costs through future free cash flows, reliable determination of these free cash flows and availability of sufficient resources for completion of development and sale. Amortization of intangible assets is recorded in research and development expenses. Expenses to be classified as research expenses are allocated to research and development expenses as defined by IAS 38. Subsequent expenditures for capitalized intangible assets are capitalized only when they substantially increase the future economic benefits of the specific asset to which they relate. All other expenditures are expensed as incurred. PATENTS Patents obtained by the Group are recorded at acquisition cost less accumulated amortization (see below) and any impairment (see Item 2.4.3 in the Notes). Patent costs are amortized on a straight-line basis over the lower of the estimated useful life of the patent (ten years) or the remaining patent term. Amortization starts when the patent is issued. Technology identified in the purchase price allocation for the acquisition of Sloning BioTechnology GmbH is recorded at the fair value at the time of acquisition, less accumulated amortization (useful life of ten years). LICENSE RIGHTS The Group has acquired license rights from third parties by making upfront license payments, paying annual fees to maintain the license and paying fees for sublicenses. The Group amortizes upfront license payments on a straight-line basis over the estimated useful life of the acquired license (eight to ten years). The amortization period and method are reviewed at the end of each financial year in accordance with IAS 38.104. Annual fees to maintain a license are amortized over the term of each annual agreement. Sublicense fees are amortized on a straight-line basis over the term of the contract or the estimated useful life of the collaboration for contracts without a set duration. IN-PROCESS This line item contains capitalized upfront payments from the in-licensing SOFTWARE Software is recorded at acquisition cost less accumulated amortization (see below), and any impairment (see Item 2.4.3 in the Notes). Amortization is recognized in profit or loss on a straight-line basis over the estimated useful life of three to five years. Software is amortized from the date the software is operational. GOODWILL Goodwill is recognized for expected synergies from business combinations and the skills of the acquired workforce. Goodwill is tested annually for impairment as required by IAS 36 (see Item 5.7.5 in the Notes). Intangible Asset Class Useful Life Amortization Patents 10 years 10% License Rights 8 - 10 years 13%-10% In-process Not yet amortized, - Software 3 - 5 years 33%-20% Goodwill Impairment Only - 2.8.7 INVESTMENTS AT FAIR VALUE, WITH CHANGES RECOGNIZED IN OTHER COMPREHENSIVE INCOME The investment in adivo GmbH is accounted for as an equity instrument at fair value. Changes in fair value are recognized in other comprehensive income. This was irrevocably determined when the investment was first recognized. This investment is a strategic financial investment, and the Group considers this classification to be more meaningful. If the investment is derecognized, no subsequent reclassification of gains or losses to profit or loss will occur. Dividends from this investment are recognized in profit or loss when there is a justified right to receive payment. 2.8.8 PREPAID EXPENSES AND OTHER ASSETS, NET OF CURRENT PORTION The non-current This line item also includes other non-current non-current |
ACCOUNTING POLICIES APPLIED TO EQUITY AND LIABILITY ITEMS OF THE BALANCE SHEET | 2.9 ACCOUNTING POLICIES APPLIED TO EQUITY AND LIABILITY ITEMS OF THE BALANCE SHEET 2.9.1 ACCOUNTS PAYABLE, OTHER LIABILITIES AND OTHER PROVISIONS Accounts payable and other liabilities are initially recognized at fair value and subsequently at amortized cost using the effective interest method. Liabilities with a term of more than one year are discounted to their net present value. Liabilities with uncertain timing or amount are recorded as provisions. IAS 37 requires the recognition of provisions for obligations to third parties arising from past events. Furthermore, provisions are only recognized for legal or factual obligations to third parties if the event’s occurrence is more likely than not. Provisions are recognized at the amount required to settle the respective obligation and discounted to the reporting date if the interest effect is material. The amount required to meet the obligation also includes expected price and cost increases. The interest portion of other provisions is recorded in the finance result. The measurement of provisions is based on past experience and considers the circumstances in existence on the reporting date. The Group has entered into various research and development contracts with research institutions and other companies. These agreements are generally cancelable, and related costs are recorded as research and development expenses as incurred. The Group records accruals for estimated ongoing research costs that have been incurred. When evaluating the adequacy of the accruals, the Group analyzes the progress of the studies, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Group’s estimates. The Group’s historical accrual estimates have not been materially different from the actual costs. 2.9.2 TAX PROVISIONS Tax liabilities are recognized and measured at their nominal value. Tax liabilities contain obligations from current taxes, excluding deferred taxes. Provisions for trade taxes, corporate taxes and similar taxes on income are determined based on the taxable income of the consolidated entities less any prepayments made. 2.9.3 CURRENT PORTION OF CONTRACT LIABILITIES Upfront payments from customers for services to be rendered by the Group and revenue that must be recognized over a period of time in accordance with IFRS 15.35 are deferred and measured at the nominal amount of cash received. The corresponding rendering of services and revenue recognition is expected to occur within a twelve-month period following the reporting date. Prior to December 31, 2017, this item was recognized as deferred revenue. 2.9.4 CONTRACT LIABILITIES, NET OF CURRENT PORTION This line item includes the non-current 2.9.5 CONVERTIBLE BONDS DUE TO RELATED PARTIES The Group had issued convertible bonds to the Group’s Management Board and employees. In accordance with IAS 32.28, the equity component of a convertible bond must be credited separately in additional paid-in 2.9.6 DEFERRED TAXES The recognition and measurement of deferred taxes are based on the provisions of IAS 12. Deferred tax assets and liabilities are calculated using the liability method, which is common practice internationally. Under this method, taxes expected to be paid or recovered in subsequent financial years are based on the applicable tax rate at the time of recognition. Deferred tax assets and liabilities are recorded separately in the balance sheet and take into account the future tax effect resulting from temporary differences between values in the balance sheet for assets, liabilities as well as for tax loss carryforwards. Deferred tax assets are offset against deferred tax liabilities if the taxes are levied by the same taxation authority and the entity has a legally enforceable right to set off current tax assets against current tax liabilities. Pursuant to IAS 12, deferred tax assets and liabilities may not be discounted. 2.9.7 OTHER LIABILITIES The line item “other liabilities” consists of a deferred amount related to rent-free periods as agreed. The corresponding reduction of these liabilities over the minimum rent period is calculated based on the effective interest method. Other liabilities are discounted due to their long-term maturities at an interest rate equivalent to the rent term. 2.9.8 STOCKHOLDERS’ EQUITY COMMON STOCK Ordinary shares are classified as stockholders’ equity. Incremental costs directly attributable to the issue of ordinary shares and stock options are recognized as a deduction from stockholders’ equity. TREASURY STOCK Repurchases of the Company’s own shares at prices quoted on an exchange or at market value are recorded in this line item as a deduction from common stock. When common stock that is recorded as stockholders’ equity is repurchased, the amount of consideration paid, including directly attributable costs, is recognized as a deduction from stockholders’ equity net of taxes and is classified as treasury shares. When treasury shares are subsequently sold or reissued, the proceeds are recognized as an increase in stockholders’ equity, and any difference between the proceeds from the transaction and the initial acquisition costs is recognized in additional paid-in The allocation of treasury shares to beneficiaries under Long-Term Incentive plans (in this case: performance shares) is reflected in this line item based on the set number of shares to be allocated after the expiration of the four-year vesting period (quantity structure) multiplied by the weighted-average purchase price of the treasury shares (value structure). The adjustment is carried out directly in equity by reducing the line item treasury stock, which is a deduction from common stock, while simultaneously reducing additional paid-in ADDITIONAL PAID- IN CAPITAL Additional paid-in REVALUATION RESERVE The revaluation reserve mainly consisted of unrealized gains and losses on available-for-sale OTHER COMPREHENSIVE INCOME RESERVE The item “other comprehensive income reserve” includes changes in the fair value of equity instruments that are recognized in other comprehensive income and foreign exchange differences that are not recognized in profit or loss. ACCUMULATED INCOME/DEFICIT The “accumulated income/deficit” line item consists of the Group’s accumulated consolidated net profits/losses. A separate measurement of this item is not made. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Summary of New and Revised Standards and Interpretations | The accounting principles applied generally correspond to the policies used in the prior year. NEW AND REVISED STANDARDS AND INTERPRETATIONS APPLIED FOR THE FIRST TIME IN THE FINANCIAL YEAR Standard / Interpretation Mandatory Adopted by Impact on IFRS 9 Financial Instruments 01/01/2018 yes yes IFRS 15 and IFRS 15 (A) Revenue from Contracts with Customers 01/01/2018 yes yes IFRS 2 (A) Classification and Measurement of Share-based Payment Transactions 01/01/2018 yes yes IFRS 4 (A) Applying IFRS 9 ‘Financial Instruments’ with IFRS 4 ‘Insurance Contracts’ 01/01/2018 yes none IFRS 15 (C) Revenue from Contracts with Customers 01/01/2018 yes yes IAS 40 (A) Transfers of Investment Property 01/01/2018 yes none IFRIC 22 Foreign Currency Transactions and Advance Consideration 01/01/2018 yes none Annual Improvements to IFRS Standards 2014 – 2016 Cycle 01/01/2018 yes none |
Summary of Reclassification of Financial Assets | At the date of initial application the Group’s business model is to hold these financial instruments for collection of contractual cash flows, and the cash flows represent solely payments of principal and interest on the principal amount. in 000’ € Available-for-sale Financial Assets at Financial Assets Other Financial Balance as of December 31, 2017 86,538 0 149,059 0 Reclassifications of “Available-for-sale (86,538 ) 86,538 0 0 Reclassifications of “Financial Assets classified as Loans and Receivables” to “Other Financial Assets at Amortized Cost” 0 0 (149,059 ) 149,059 Impairment 0 0 0 (136 ) Balance as of January 1, 2018 0 86,538 0 148,923 |
Summary of Other Financial Assets at Amortized Cost | No reclassification adjustment was required to be made to other financial assets at amortized cost under IFRS 9 compared to the application of IAS 39. in 000’ € Revaluation Accumulated Balance as of December 31, 2017 (105 ) 0 Reclassifications of “Available-for-sale 105 (105 ) Balance as of January 1, 2018 0 (105 ) |
Summary of Expected Twelve-month Loss for Financial Instruments | Impairment General Simplified Impairment Accumulated in 000’ € Stage 1 Stage 2 Stage 3 Stage 2 Stage 3 Balance as of December 31, 2017 0 0 0 0 0 0 0 Other Financial Assets at Amortized Cost 0 (136 ) 0 0 0 0 (136 ) Accounts Receivable 0 0 0 0 (112 ) 0 (112 ) Balance as of January 1, 2018 0 (136 ) 0 0 (112 ) 0 (248 ) |
Summary of Contract Liabilities | This effect resulted from license payments which, under IFRS 15, are to be realized at a specific point in time rather than over a period of time, as was the case under IAS 18. in 000’ € Current Portion of Contract Liability, Accumulated Deficit Balance as of December 31, 2017 1,389 306 0 Application of IFRS 15 (1,041 ) (94 ) 1,135 Balance as of January 1, 2018 348 212 1,135 |
Summary of New and Revised Standards and Interpretations, Which Were Not Yet Mandatory for Financial Year or Were Not Yet Adopted by European Union, Were Not Applied | The following new and revised standards and interpretations that were not yet mandatory for the financial year or were not yet adopted by the European Union were not applied. Standards with the remark “yes” are likely to have an impact on the consolidated financial statements, and their impact is currently being assessed by the Group. Only those standards having a material impact are described in more detail. The impact on the consolidated financial statements of the amendments to IAS 1 and IAS 8 is not expected to be material and therefore these are not explained separately. Standards with the remark “none” are unlikely to have a material impact on the consolidated financial statements. Standard / Interpretation Mandatory Adopted by the Possible Impact IFRS 3 (A) Business Combinations 01/01/2020 no none IFRS 16 Leases 01/01/2019 yes yes IFRS 17 Insurance Contracts 01/01/2021 no none IFRS 9 (A) Prepayment Features with Negative Compensation 01/01/2019 yes none IAS 1 und IAS 8 (A) Definition of Material 01/01/2020 no yes IAS 19 (A) Plan Amendment, Curtailment or Settlement 01/01/2019 no none IAS 28 (A) Long-term Interests in Associates and Joint Ventures 01/01/2019 yes none IFRIC 23 Uncertainty over Income Tax Treatments 01/01/2019 yes none Amendments to References to the Conceptual Framework in IFRS Standards 01/01/2020 no none Annual Improvements to IFRS Standards 2015 – 2017 Cycle 01/01/2019 no none (A) Amendments |
Summary of Changes in Impairment Losses for Credit Risks | The changes in impairment losses for credit risks required to be recognized under IFRS 9 on the financial year’s profit or loss in the line item “impairment losses on financial assets” (see Item 2.4 of the Notes) were as follows. Negative values represent additions and positive values represent reversals of this risk provision. No utilization of impairments was recognized in 2018. The increase of this risk provision resulted from a higher volume of financial assets at amortized cost due to the cash raised in connection with the IPO on the Nasdaq and higher premiums on counterparties’ credit default swaps compared with January 1, 2018. General Impairment Model Simplified Impairment Model Total in 000’ € Stage 1 Stage 2 Stage 3 Stage 2 Stage 3 Balance as of January 1, 2018 (136 ) 0 0 (112 ) 0 (248 ) Unused Amounts Reversed 0 0 0 112 0 112 Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year (570 ) (465 ) 0 (90 ) 0 (1,125 ) Change between Impairment Stages 41 (41 ) 0 0 0 0 Amounts written off during the Year as uncollectible 0 0 0 0 0 0 Balance as of December 31, 2018 (665 ) (506 ) 0 (90 ) 0 (1,261 ) |
Summary of Impairment Losses for Credit Risks on Financial Assets | The Group recognizes impairment losses for credit risks on financial assets as of December 31, 2018 as follows. Balance Sheet Item Internal Basis for Gross Carrying Impairment Carrying Average Cash and Cash Equivalents low Expected Twelve-Month Loss 43,165 (16 ) 43,149 0.0 % Other Financial Assets at Amortized Cost low Expected Twelve-Month Loss 275,805 (649 ) 275,156 0.2 % medium Lifetime Expected Credit Losses 93,102 (506 ) 92,596 0.5 % Accounts Receivable low Lifetime Expected Credit Losses 17,823 (90 ) 17,733 0.5 % |
Summary of Accounts Receivables by Region | The table below shows accounts receivables by region as of the reporting date. in € 12/31/2018 12/31/2017 Europe and Asia 13,176,523 8,838,884 USA and Canada 4,646,410 2,395,424 Other 0 0 Impairment (90,000 ) 0 Total 17,732,933 11,234,308 |
Summary of Aging of Accounts Receivable | The following table shows the aging of accounts receivable as of the reporting date. The loss rate for accounts receivable is valued at 0.5% as of December 31, 2018. 12/31/2018 12/31/2018 12/31/2018 12/31/2018 in €; due since 0 - 30 days 30 - 60 days 60 + days Total Accounts Receivable 17,822,933 0 0 17,822,933 Impairment (90,000 ) 0 0 (90,000 ) Accounts Receivable, Net of Allowance for Impairment 17,732,933 0 0 17,732,933 12/31/2017 12/31/2017 12/31/2017 12/31/2017 in €; due since 0 - 30 days 30 - 60 days 60 + days Total Accounts Receivable 11,234,308 0 0 11,234,308 Write-off 0 0 0 0 Accounts Receivable, Net of Allowance for Impairment 11,234,308 0 0 11,234,308 |
Summary of Maturities of Accounts Payable | The following table shows the maturities of accounts payable as of the reporting date. 12/31/2018 12/31/2018 12/31/2018 in €; due in Between One and More than 12 Total Trade Accounts Payable 7,215,127 0 7,215,127 Convertible Bonds due to Related Parties 71,517 0 71,517 12/31/2017 12/31/2017 12/31/2017 in €; due in Between One and More than 12 Total Trade Accounts Payable 4,621,918 0 4,621,918 Convertible Bonds due to Related Parties 87,785 0 87,785 |
Summary of Exposure to Foreign Currency Risk | The table below shows the Group’s exposure to foreign currency risk based on the items’ carrying amounts. as of December 31, 2018; in € EUR US$ Other Impairment Total Cash and Cash Equivalents 38,732,565 6,743,271 0 (16,000 ) 45,459,836 Financial Assets at Fair Value through Profit or Loss 34,971,116 9,610,148 0 0 44,581,264 Other Financial Assets at Amortized Cost 365,823,783 0 0 (1,152,000 ) 364,671,783 Accounts Receivable 17,570,035 252,898 0 (90,000 ) 17,732,933 Restricted Cash (included in Other Current Assets) 772,425 12,901 0 (3,000 ) 782,326 Accounts Payable and Accruals (43,638,268 ) (1,122,347 ) 0 0 (44,760,615 ) Total 414,231,656 15,496,871 0 (1,261,000 ) 428,467,527 as of December 31, 2017; in € EUR US$ Other Impairment Total Cash and Cash Equivalents 74,289,250 2,299,879 0 0 76,589,129 Available-for-sale 86,538,195 0 0 0 86,538,195 Financial Assets classified as Loans and Receivables 149,059,254 0 0 0 149,059,254 Accounts Receivable 11,199,652 34,656 0 0 11,234,308 Restricted Cash (included in Other Current Assets) 1,132,782 0 0 0 1,132,782 Accounts Payable and Accruals (44,655,328 ) (156,390 ) 0 0 (44,811,718 ) Gesamt 277,563,805 2,178,145 0 0 279,741,950 |
Summary of Fair Values of Financial Assets and Liabilities and Carrying Amounts | The table below shows the fair values of financial assets and liabilities and the carrying amounts presented in the consolidated balance sheet. December 31, 2018 in 000’ € Note Hierarchy Level Not classified into a Category Financial Assets at Amortized Financial Assets at Cash and Cash Equivalents 5.1 * 45,460 0 Financial Assets at Fair Value through Profit or Loss 5.2 1 0 44,581 Other Financial Assets at Amortized Cost 5.2 * 268,923 0 Accounts Receivable 5.3 * 17,733 0 Other Receivables thereof Financial Assets * 81 thereof Forward Exchange Contracts used for Hedging 5.4 2 0 66 Current Assets 332,197 44,647 Other Financial Assets at Amortized Cost, Net of Current Portion 5.2 2 95,749 0 Shares at Fair Value through Other Comprehensive Income 5.8 3 0 0 Prepaid Expenses and Other Assets, Net of Current Portion 5.9 thereof Non-Financial n/a 2,271 thereof Restricted Cash 2 711 0 Non-current 2,271 96,460 0 Total 2,271 428,657 44,647 Accounts Payable and Accruals 6.1 * 0 0 Current Liabilities 0 0 Convertible Bonds – Liability Component 2 0 0 Non-current 0 0 Total 0 0 * Declaration waived in accordance with IFRS 7.29 (a). For these instruments the carrying amount is a reasonable approximation of fair value. Financial Assets at Financial Liabilities Financial Liabilities at Total Carrying Amount Fair value 0 0 0 45,460 * 0 0 0 44,581 44,581 0 0 0 268,923 * 0 0 0 17,733 * 147 81 * 0 0 0 66 66 0 0 0 376,844 0 0 0 95,749 95,749 232 0 0 232 0 2,982 2,271 n/a 0 0 0 711 701 232 0 0 98,963 232 0 0 475,807 0 (44,761 ) 0 (44,761 ) * 0 (44,761 ) 0 (44,761 ) 0 (72 ) 0 (72 ) (72 ) 0 (72 ) 0 (72 ) 0 (44,833 ) 0 (44,833 ) December 31, 2017 in 000’ € Note Hierarchy Level Not classified into a Loans and Receivables Cash and Cash Equivalents 5.1 * 76,589 Available-for-sale 5.2 1 0 Financial Assets classified as Loans and Receivables 5.2 * 149,059 Accounts Receivable 5.3 * 11,234 Other Receivables 5.4 * 85 Prepaid Expenses and Other Current Assets thereof Non-Financial n/a 15,788 thereof Restricted Cash 5.5 * 432 Current Assets 15,788 237,399 Prepaid Expenses and Other Assets, Net of Current Portion 5.9 thereof Non-Financial n/a 2,643 thereof Restricted Cash 2 701 Non-current 2,643 701 Total 18,431 238,100 Accounts Payable and Accruals 6.1 * 0 Other Provisions thereof Non-Financial n/a (886 ) thereof Forward Exchange Contracts used for Hedging 2 0 Current Liabilities (886 ) 0 Convertible Bonds – Liability Component 2 0 Non-current 0 Total (886 ) 0 * Declaration waived in line with IFRS 7.29 (a). For these instruments carrying amount is a reasonable approximation of fair value. Available-for-sale Other Financial Total Carrying Fair value 0 0 76,589 * 86,538 0 86,538 86,538 0 0 149,059 * 0 0 11,234 * 0 0 85 * 16,220 15,788 n/a 0 0 432 * 86,538 0 339,725 3,344 2,643 n/a 0 0 701 701 0 0 3,344 86,538 0 343,069 0 (44,812 ) (44,812 ) * (1,186 ) (886 ) n/a 0 (300 ) (300 ) (300 ) 0 (45,112 ) (45,998 ) 0 (88 ) (88 ) (88 ) 0 (88 ) (88 ) 0 (45,200 ) (46,086 ) |
Summary of Capital Management | in 000’ € 12/31/2018 12/31/2017 Stockholders’ Equity 488,373 358,671 In % of Total Capital 90.6 % 86.3 % Total Liabilities 50,391 56,727 In % of Total Capital 9.4 % 13.7 % Total Capital 538,764 415,398 |
Summary of Estimated Useful Life or Remaining Term of Lease of Property Plant and Equipment | Asset Class Useful Life Depreciation Rates Computer Hardware 3 years 33 % Low-value Immediately 100 % Permanent Improvements to Property/Buildings 10 years 10 % Office Equipment 8 years 13 % Laboratory Equipment 4 years 25 % |
Summary of Intangible Assets and Goodwill | Goodwill is tested annually for impairment as required by IAS 36 (see Item 5.7.5 in the Notes). Intangible Asset Class Useful Life Amortization Patents 10 years 10% License Rights 8 - 10 years 13%-10% In-process Not yet amortized, - Software 3 - 5 years 33%-20% Goodwill Impairment Only - |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Summary of Segment Assets Based on Assets' Respective Locations | The information on segment assets is based on the assets’ respective locations. For the Proprietary Development Partnered Discovery Unallocated Group (in 000’s €) 2018 2017 2016 2018 2017 2016 2018 2017 2016 2018 2017 2016 External Revenues 53,610 17,635 621 22,832 49,156 49,123 0 0 0 76,442 66,791 49,744 Operating Expenses (107,019 ) (99,106 ) (78,515 ) (9,516 ) (18,906 ) (18,113 ) (19,969 ) (15,835 ) (13,212 ) (136,504 ) (133,847 ) (109,840 ) Segment Result (53,409 ) (81,471 ) (77,894 ) 13,316 30,250 31,010 (19,969 ) (15,835 ) (13,212 ) (60,062 ) (67,056 ) (60,096 ) Other Income 159 157 327 0 0 0 1,486 963 382 1,645 1,120 709 Other Expenses 0 0 0 0 0 0 (689 ) (1,671 ) (554 ) (689 ) (1,671 ) (554 ) Segment EBIT (53,250 ) (81,314 ) (77,567 ) 13,316 30,250 31,010 (19,172 ) (16,543 ) (13,384 ) (59,106 ) (67,607 ) (59,941 ) Finance Income 418 712 1,385 Finance Expenses (754 ) (1,895 ) (1,308 ) Impairment Losses on Financial Assets (1,035 ) 0 0 Earnings before Taxes (60,477 ) (68,790 ) (59,864 ) Income Tax Benefit / (Expenses) 4,305 (1,036 ) (519 ) Net Loss (56,172 ) (69,826 ) (60,383 ) Current Assets 15,842 8,802 13,157 7,114 18,054 18,415 365,949 313,825 276,484 388,905 340,681 308,056 Non-current 42,041 60,658 59,292 6,288 8,490 10,165 101,530 5,569 86,087 149,859 74,717 155,544 Total Segment Assets 57,883 69,460 72,449 13,402 26,544 28,580 467,479 319,394 362,571 538,764 415,398 463,600 Current Liabilities 32,167 33,008 20,948 1,471 4,083 2,512 12,285 10,610 14,842 45,923 47,701 38,302 Non-current 3,291 7,072 6,930 158 1,045 2,165 1,019 909 743 4,468 9,026 9,838 Stockholders’ Equity 0 0 0 0 0 0 488,373 358,671 415,460 488,373 358,671 415,460 Total Segment Liabilities and Equity 35,458 40,080 27,878 1,629 5,128 4,677 501,677 370,190 431,045 538,764 415,398 463,600 Capital Expenditure 1,319 12,344 1,358 879 602 1,181 268 204 374 2,466 13,150 2,913 Depreciation and Amortization 1,903 1,555 1,272 1,429 2,075 2,117 418 400 375 3,750 4,030 3,764 |
Summary of Regional Distribution of Revenue | The following overview shows the Group’s regional distribution of revenue. in 000’ € 2018 2017 2016 Germany 309 851 1,621 Europe and Asia 56,784 57,229 43,046 USA and Canada 19,350 8,711 5,077 Total 76,443 66,791 49,744 |
Summary of Timing of Satisfaction of Performance Obligations | The following overview shows the timing of the satisfaction of performance obligations in 2018. in 000’ € Proprietary Partnered At a Point in Time thereof performance obligations fulfilled in previous periods: € 0 in Proprietary Development and € 19.0 million in Partnered Discovery 53,610 22,268 Over Time 0 564 Total 53,610 22,832 |
Notes to Profit or Loss (Tables
Notes to Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Summary of Cost of Sales | Cost of sales consists of the items below. in 000’ € 2018 2017 2016 Personnel Expenses 1,797 0 0 Total 1,797 0 0 |
Summary of Research and Development Expenses | Research and development expenses are composed of the items below. in 000’ € 2018 2017 2016 Personnel Expenses 25,288 28,482 25,145 Consumable Supplies 2,310 2,588 2,321 Other Operating Expenses 2,761 2,757 2,608 Impairment, Amortization and Other Costs of Intangible Assets 22,760 13,503 13,689 External Services 47,889 61,119 44,311 Depreciation and Other Costs for Infrastructure 5,389 4,865 5,889 Total 106,397 113,314 93,963 |
Summary of Selling Expenses | Selling expenses consist of the items below. in 000’ € 2018 2017 2016 Personnel Expenses 2,536 1,771 1,661 Consumable Supplies 3 1 1 Other Operating Expenses 538 386 444 Amortization of Intangible Assets 25 0 0 External Services 2,953 2,658 338 Depreciation and Other Costs for Infrastructure 328 0 0 Total 6,383 4,816 2,444 |
Summary of General and Administrative Expenses | General and administrative expenses included the items below. in 000’ € 2018 2017 2016 Personnel Expenses 15,016 11,797 9,208 Consumable Supplies 15 33 97 Other Operating Expenses 1,012 714 847 Amortization of Intangible Assets 97 112 111 External Services 4,475 2,224 2,244 Depreciation and Other Costs for Infrastructure 1,313 838 925 Total 21,928 15,718 13,432 |
Summary of Personnel Expenses | Personnel expenses included the items below. in 000’ € 2018 2017 2016 Wages and Salaries 30,349 28,196 27,146 Social Security Contributions 4,341 4,542 4,570 Share-based Payment Expense 5,585 4,975 2,357 Temporary Staff (External) 1,241 881 1,061 Other 3,121 3,456 880 Total 44,637 42,050 36,014 |
Summary of Other Income and Expenses, Finance Income and Expenses | in 000’ € 2018 2017 2016 Grant Income 153 157 327 Gain on Foreign Exchange 677 485 192 Gain from recognition of previously unrecognized intangible assets 350 0 0 Reversal of Impairment for Accounts Receivable Previously Deemed Impaired 0 76 15 Miscellaneous Income 465 402 175 Other Income 1,645 1,120 709 Loss on Foreign Exchange (457 ) (844 ) (400 ) Impairment of Other Receivables 0 0 (7 ) Miscellaneous Expenses (232 ) (827 ) (147 ) Other Expenses (689 ) (1,671 ) (554 ) Gain on Financial Assets at Fair Value through Profit or Loss Available-for-sale 5 35 294 Interest Income on Other Financial Assets at Amortized Cost 91 236 1,017 Gain on Derivatives 322 441 74 Finance Income 418 712 1,385 Loss on Financial Assets at Fair Value through Profit or Loss Available-for-sale (85 ) (120 ) (1,209 ) Interest Expenses for Other Financial Assets at Amortized Cost (53 ) (374 ) (20 ) Interest Expenses for Financial Liabilites at Amortized Cost (126 ) 0 0 Loss on Derivatives (444 ) (1,360 ) (44 ) Bank Fees (46 ) (41 ) (35 ) Finance Expenses (754 ) (1,895 ) (1,308 ) |
Schedule of Net Gains or Losses Resulted from Financial Instruments | The following net gains or losses resulted from financial instruments in the fiscal year. in 000’ € 2018 2017 2016 Financial Assets at Fair Value through Profit or Loss (202 ) (919 ) 30 Other Financial Assets at Amortized Cost (978 ) 0 0 Shares at Fair Value through Other Comprehensive Income (127 ) 0 0 Financial Liabilities at Amortized Cost (126 ) 0 0 Available-for-sale 0 (190 ) (1,069 ) Financial Assets classified as Loans and Receivables 0 (164 ) 918 Total (1,433 ) (1,273 ) (121 ) |
Summary of Income Taxes | Income taxes consist of the items listed below. in 000’ € 2018 2017 2016 Current Tax Income / (Expense) (Thereof Regarding Prior Years: k€ 1; 2017: k€ 171; 2016: k€ (60)) 1 (534 ) 45 Deferred Tax Benefit / (Expenses) 4,304 (502 ) (564 ) Total Income Tax Benefit / (Expenses) 4,305 (1,036 ) (519 ) Total Amount of Current Taxes Resulting from Entries Directly Recognized in Other Comprehensive Income 0 0 (82 ) Total Amount of Deferred Taxes Resulting from Entries Directly Recognized in Other Comprehensive Income 0 0 (112 ) Total Amount of Tax Effects Resulting from Entries Directly Recognized in Equity or Other Comprehensive Income 0 0 (194 ) |
Summary of Reconciliation of Expected Income Tax Expense with Actual Income Tax Expense | The following table reconciles the expected income tax expense to the actual income tax expense as presented in the consolidated financial statements. The combined income tax rate of 26.675% in the 2018 financial year (2017: 26.675%) was applied to profit before taxes to calculate the statutory income tax expense. This rate consisted of corporate income tax of 15.0%, a solidarity surcharge of 5.5% on the corporate tax and an average trade tax of 10.85% applicable to the Group. in 000’ € 2018 2017 2016 Earnings Before Income Taxes (60,477 ) (68,790 ) (59,864 ) Expected Tax Rate 26,675 % 26,675 % 26,675 % Expected Income Tax 16,132 18,350 15,969 Tax Effects Resulting from: Share-based Payment (363 ) (290 ) 5 Non-Tax-Deductible (126 ) (134 ) (135 ) Differences in Profit or Loss-Neutral Adjustments 3,716 37 812 Non-Recognition (349 ) 3,256 (3,766 ) Non-Recognition (14,497 ) (22,007 ) (13,354 ) Tax Rate Differences to Local Tax Rates (268 ) (71 ) (46 ) Prior Year Taxes 1 (171 ) 0 Other Effects 59 (6 ) (4 ) Actual Income Tax 4,305 (1,036 ) (519 ) |
Schedule of Deferred Tax Assets and Deferred Tax Liabilities | Deferred tax assets and deferred tax liabilities are composed as follows. in 000’s €, as of December 31 Deferred Tax Deferred Tax Deferred Tax Deferred Tax Intangible Assets 0 0 4,317 8,297 Receivables and Other Assets 319 0 0 0 Prepaid Expenses and Deferred Charges 0 0 0 3 Other Provisions 278 253 0 0 Other Liabilities 213 236 0 0 Total 810 489 4,317 8,300 |
Schedule of Changes in Deferred Taxes | Changes in Deferred Taxes in 2018 in 000’s €, as of December 31 Recognized in Profit or Loss Recognized in Other Intangible Assets 3,980 0 Receivables and Other Assets 319 0 Prepaid Expenses and Deferred Charges 3 0 Other Provisions 25 0 Other Liabilities (23 ) 0 Total 4,304 0 |
Calculation of Weighted Average Number of Ordinary Shares | The table below shows the calculation of the weighted-average number of ordinary shares. 2018 2017 Shares Issued on January 1 29,420,785 29,159,770 Effect of Treasury Shares Held on January 1 (319,678 ) (396,010 ) Effect of Share Issuance 2,208,146 0 Effect of Transfer of Treasury Stock to Members of the Management Board 0 7,759 Effect of Transfer of Treasury Stock / Shares Issued in January 278 0 Effect of Transfer of Treasury Stock / Shares Issued in February 0 0 Effect of Transfer of Treasury Stock / Shares Issued in March 0 0 Effect of Transfer of Treasury Stock / Shares Issued in April 1,863 154,250 Effect of Transfer of Treasury Stock / Shares Issued in May 4,128 3,778 Effect of Transfer of Treasury Stock / Shares Issued in June 756 1,094 Effect of Transfer of Treasury Stock / Shares Issued in July 1,874 2,038 Effect of Transfer of Treasury Stock / Shares Issued in August 17,754 2,669 Effect of Transfer of Treasury Stock / Shares Issued in September 2,818 3,976 Effect of Transfer of Treasury Stock / Shares Issued in October 76 2,566 Effect of Transfer of Treasury Stock / Shares Issued in November 85 5,549 Effect of Transfer of Treasury Stock / Shares Issued in December 63 127 Weighted-average Number of Shares of Common Stock 31,338,948 28,947,566 |
Notes to the Assets of the Ba_2
Notes to the Assets of the Balance Sheet (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Summary of Cash and Cash Equivalents | in 000’ € 12/31/2018 12/31/2017 Bank Balances and Cash in Hand 45,476 76,589 Impairment (16 ) 0 Cash and Cash Equivalents 45,460 76,589 |
Summary of Available-For-Sale Financial Assets | Gross Unrealized in 000’ € Maturity Cost Gains Losses Market Value December 31, 2018 Money Market Funds daily 44,718 0 (137 ) 44,581 Total 44,581 December 31, 2017 Money Market Funds daily 86,644 0 (106 ) 86,538 Total 86,538 |
Summary of Bonds, Available-For-Sale | As of January 1, 2019, realized and unrealized gains and losses on money market funds held or sold were recognized in the finance result in profit or loss in accordance with IFRS 9. The sale of financial assets in 2018 resulted in net losses of less than € 0.1 million. In 2017, in accordance with IAS 39, the Group recognized a net gain of less than € 0.1 million in profit or loss resulting from the sale of financial assets previously recognized in equity (2016: net gain of € 0.3 million). in 000’ € Maturity Cost Unrealized Interest Impairment Carrying December 31, 2018 Term Deposits, Current Portion 4 - 12 Months 219,720 2 (744 ) 218,978 Commercial Papers 4 - 12 Months 50,000 0 (55 ) 49,945 Term Deposits, Net of Current Portion More than 96,090 12 (353 ) 95,749 Total 364,672 December 31, 2017 Term Deposits, Current Portion 4 - 12 Months 149,000 59 0 149,059 Total 149,059 |
Summary of Property, Plant and Equipment | in 000’ € Office and Furniture Total Cost January 1, 2018 17,335 2,501 19,836 Additions 1,780 41 1,821 Disposals (1,457 ) (1,603 ) (3,060 ) 31. Dezember 2018 17,658 939 18,597 Accumulated Depreciation and Impairment January 1, 2018 14,490 1,820 16,310 Depreciation Charge for the Year 1,723 89 1,812 Disposals (1,455 ) (1,601 ) (3,056 ) December 31, 2018 14,758 308 15,066 Carrying Amount January 1, 2018 2,845 681 3,526 December 31, 2018 2,900 631 3,531 Cost January 1, 2017 16,658 2,389 19,047 Additions 1,205 112 1,317 Disposals (528 ) 0 (528 ) December 31, 2017 17,335 2,501 19,836 Accumulated Depreciation and Impairment January 1, 2017 13,120 1,738 14,858 Depreciation Charge for the Year 1,887 82 1,969 Impairment 0 0 0 Disposals (517 ) 0 (517 ) December 31, 2017 14,490 1,820 16,310 Carrying Amount January 1, 2017 3,538 651 4,189 December 31, 2017 2,845 681 3,526 |
Summary of Depreciation | Depreciation is included in the following line items of profit or loss. in 000’ € 2018 2017 2016 Research and Development 1,398 1,672 1,518 Selling 87 0 0 General and Administrative 327 297 268 Total 1,812 1,969 1,786 |
Summary of Intangible Assets | in 000’ € Patents License Rights In-process R&D Software Goodwill Total Cost January 1, 2018 16,995 23,896 52,159 5,853 11,041 109,944 Additions 590 0 0 55 0 645 Disposals 0 0 0 (264 ) 0 (264 ) December 31, 2018 17,585 23,896 52,159 5,644 11,041 110,325 Accumulated Amortization and Impairment January 1, 2018 12,326 20,897 0 5,198 3,676 42,097 Amortization Charge for the Year 1,320 112 0 506 0 1,938 Impairment 0 360 15,140 0 3,689 19,189 Disposals 0 0 0 (264 ) 0 (264 ) December 31, 2018 13,646 21,369 15,140 5,440 7,365 62,960 Carrying Amount January 1, 2018 4,669 2,999 52,159 655 7,365 67,847 December 31, 2018 3,939 2,527 37,019 204 3,676 47,365 Cost January 1, 2017 16,419 23,896 60,960 5,800 11,041 118,116 Additions 640 0 11,140 53 0 11,833 Disposals (64 ) 0 (19,941 ) 0 0 (20,005 ) December 31, 2017 16,995 23,896 52,159 5,853 11,041 109,944 Accumulated Amortization and Impairment January 1, 2017 11,096 20,749 10,141 4,515 3,676 50,177 Amortization Charge for the Year 1,230 148 0 683 0 2,061 Impairment 64 0 9,800 0 0 9,864 Disposals (64 ) 0 (19,941 ) 0 0 (20,005 ) December 31, 2017 12,326 20,897 0 5,198 3,676 42,097 Carrying Amount January 1, 2017 5,323 3,147 50,819 1,285 7,365 67,939 December 31, 2017 4,669 2,999 52,159 655 7,365 67,847 |
Summary of Amortization of Intangible Assets | Amortization is included in the following line items of profit or loss. in 000’ € 2018 2017 2016 Research and Development 1,822 1,958 1,872 Research and Development (Write-off) 19,189 9,864 10,141 Selling 25 0 0 General and Administrative 91 103 106 Total 21,127 11,925 12,119 |
Summary of Change in Investments | The change in investments in the 2018 financial year is shown below. in 000’ € 01/01/2018 Additions Disposals Through Other Through 12/31/2018 Shareholdings 0 359 0 (127 ) 0 232 |
Summary of Prepaid Expenses and Other Assets, Net of Current Portion | The breakdown of this line item is shown in the table below. in 000’ € 12/31/2018 12/31/2017 Prepaid Expenses, Net of Current Portion 2,199 2,546 Other Current Assets 783 798 Total 2,982 3,344 |
Notes to Equity and Liabiliti_2
Notes to Equity and Liabilities of the Balance Sheet (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Summary of Accounts Payable and Accrued Liabilities | Accounts payable are listed in the table below. in 000’ € 12/31/2018 12/31/2017 Trade Accounts Payable 7,215 4,622 Licenses Payable 184 196 Accruals 36,530 36,408 Other Liabilities 832 3,586 Total 44,761 44,812 |
Summary of Development of Tax Provisions and Current and Non-current Other Provisions | The table below shows the development of tax provisions and current and non-current in 000’ € 01/01/2018 Additions Utilized Released 12/31/2018 Tax Provisions 315 0 72 35 208 Other Provisions 1,209 773 1,192 606 184 Total 1,524 773 1,264 641 392 |
Summary of Disaggregation of Revenue from Contract with Customers | The changes in this item are set out below. in 000’ € 2018 2017 Opening Balance before Application of IFRS 15 1,695 2,905 Application of IFRS 15 (1,135 ) 0 Opening Balance after Application of IFRS 15 560 2,905 Prepayments Received in the Fiscal Year 2,386 18,386 Revenues Recognized in the Reporting Period that was included in the Contract Liability at the Beginning of the Period (306 ) 0 Revenues Recognized for Received Prepayments and Services Performed in the Fiscal Year (1,688 ) (19,596 ) Closing Balance 952 1,695 thereof short-term 794 1,389 thereof long-term 158 306 |
Summary of Composition and Development of Treasury Stock | In the years 2018 and 2017, the Group did not repurchase any of its own shares. The composition and development of this line item is listed in the following table. Number Value As of 12/31/2010 79,896 9,774 Purchase in 2011 84,019 1,747,067 As of 12/31/2011 163,915 1,756,841 Purchase in 2012 91,500 1,837,552 As of 12/31/2012 255,415 3,594,393 Purchase in 2013 84,475 2,823,625 As of 12/31/2013 339,890 6,418,018 Purchase in 2014 111,000 7,833,944 As of 12/31/2014 450,890 14,251,962 Purchase in 2015 88,670 5,392,931 Transfer in 2015 (104,890 ) (3,816,947 ) As of 12/31/2015 434,670 15,827,946 Purchase in 2016 52,295 2,181,963 Transfer in 2016 (90,955 ) (3,361,697 ) As of 12/31/2016 396,010 14,648,212 Transfer in 2017 (76,332 ) (2,821,231 ) As of 12/31/2017 319,678 11,826,981 Transfer in 2018 (38,642 ) (1,428,208 ) As of 12/31/2018 281,036 10,398,773 |
Remuneration System for the M_2
Remuneration System for the Management Board and Employees of the Group (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Summary of Parameters of Share Based Compensation Program | The parameters of each program are listed in the table below. April 2017 Stock April 2018 Stock Share Price on Grant Date in € 55.07 81.05 Strike Price in € 55.52 81.04 Expected Volatility of the MorphoSys share in % 37.49 35.95 Expected Volatility of the Nasdaq Biotech Index in % 25.07 25.10 Expected Volatility of the TecDAX Index in % 16.94 17.73 Performance Term of Program in Years 4.0 4.0 Dividend Yield in % n/a n/a Risk-free Interest Rate in % between 0.03 between 0.02 |
Summary of Development of Convertible Bond Plans for Group Employees | The following table shows the development of the convertible bond plans for Group employees in the 2018, 2017 and 2016 financial years. Convertible Weighted- Outstanding on January 1, 2016 449,999 31.88 Granted 0 0.00 Exercised 0 0.00 Forfeited (13,414 ) 31.88 Expired 0 0.00 Outstanding on December 31, 2016 436,585 31.88 Outstanding on January 1, 2017 436,585 31.88 Granted 0 0.00 Exercised (261,015 ) 31.88 Forfeited 0 0.00 Expired 0 0.00 Outstanding on December 31, 2017 175,570 31.88 Outstanding on January 1, 2018 175,570 31.88 Granted 0 0.00 Exercised (32,537 ) 31.88 Forfeited 0 0.00 Expired 0 0.00 Outstanding on December 31, 2018 143,033 31.88 |
Summary of Weighted Average Exercise Price | The following overview includes the weighted-average exercise price as well as information on the contract duration of significant groups of convertible bonds as of December 31, 2018. Range of Exercise Prices Number Remaining Weighted- Number Weighted- € 25.00 - € 40.00 143,033 1.25 31.88 143,033 31.88 143,033 1.25 31.88 143,033 31.88 |
Summary of Expected Volatility Based on Development of Share Volatility of Last Four Years | The parameters of each program are listed in the table below. April 2015 Long-Term April 2016 Long-Term April 2017 Long-Term April 2018 Long-Term Share Price on Grant Date in € 57.18 43.28 55.07 81.05 Strike Price in € n/a n/a n/a n/a Expected Volatility of the MorphoSys share in % 33.09 34.637 37.49 35.95 Expected Volatility of the Nasdaq Biotech Index in % 20.70 23.39 25.07 25.10 Expected Volatility of the TecDAX Index in % 20.10 17.01 16.94 17.73 Performance Term of Program in Years 4.0 4.0 4.0 4.0 Dividend Yield in % n/a n/a n/a n/a Risk-free Interest Rate in % 0.07 0.05 between between |
Summary of Shares, Stock Options, Convertible Bonds and Performance Shares Held by Members of Management Board and Supervisory Board | Shares 01/01/2018 Additions Sales 12/31/2018 Management Board Dr. Simon Moroney 483,709 8,928 8,928 483,709 Jens Holstein 11,000 36,554 30,537 17,017 Dr. Malte Peters 9,505 3,313 0 12,818 Dr. Markus Enzelberger 7,262 3,248 8,834 1,676 Total 511,476 52,043 48,299 515,220 Supervisory Board Dr. Marc Cluzel 500 0 0 500 Dr. Frank Morich 1,000 0 0 1,000 Krisja Vermeylen 350 0 0 350 Wendy Johnson 500 0 0 500 Dr. George Golumbeski 1 - 0 0 0 Michael Brosnan 1 - 0 0 0 Dr. Gerald Möller 2 11,000 900 0 - Klaus Kühn 2 0 0 0 - Total 13,350 900 0 2,350 STOCK OPTIONS 01/01/2018 Additions Forfeitures 3 Exercises 12/31/2018 Management Board Dr. Simon Moroney 12,511 9,884 0 0 22,395 Jens Holstein 8,197 6,476 0 0 14,673 Dr. Malte Peters 8,197 6,476 0 0 14,673 Dr. Markus Enzelberger 5,266 6,476 0 0 11,742 Total 34,171 29,312 0 0 63,483 CONVERTIBLE BONDS 01/01/2018 Additions Forfeitures 3 Exercises 12/31/2018 Management Board Dr. Simon Moroney 88,386 0 0 0 88,386 Jens Holstein 60,537 0 0 30,537 30,000 Dr. Malte Peters 0 0 0 0 0 Dr. Markus Enzelberger 0 0 0 0 0 Total 148,923 0 0 30,537 118,386 PERFORMANCE SHARES 01/01/2018 Additions Forfeitures 3 Allocations 4 12/31/2018 Management Board Dr. Simon Moroney 30,060 2,969 2,182 3,797 27,050 Jens Holstein 20,086 1,945 1,495 2,600 17,936 Dr. Malte Peters 3,187 1,945 0 0 5,132 Dr. Markus Enzelberger 5,987 1,945 329 572 7,031 Total 59,320 8,804 4,006 6,969 57,149 1 Dr. George Golumbeski and Michael Brosnan have joined the Supervisory Board of MorphoSys AG on May 17, 2018. 2 Dr. Gerald Möller and Klaus Kühn have left the Supervisory Board of MorphoSys AG on May 17, 2018. Changes in the number of shares after resignation from the Supervisory Board of MorphoSys AG are not presented in the tables. 3 Forfeited performance Shares are a result of the KPI achievement rate of 63.5 % and a company factor of 1.0 as determined at the end of the performance period of the LTI plan 2014. 4 Allocations are made as soon as performance shares are transferred within the six-month |
Summary of Management Board Remuneration | While in the management report the remuneration of the Management Board and Supervisory Boards as members in key management positions is presented in accordance with the provisions of the German Corporate Governance Code, the following tables show the expense-based view in accordance with IAS 24. MANAGEMENT BOARD REMUNERATION FOR THE YEARS 2018 AND 2017 (IAS 24): Dr. Simon Moroney Chief Executive Officer Jens Holstein Chief Financial Officer Dr. Malte Peters Chief Development Officer Appointment: March 1, 2017 2017 2018 2017 2018 2017 2018 Fixed Compensation 500,876 542,074 372,652 402,235 281,500 397,800 Fringe Benefits 1 35,912 32,654 42,905 46,725 568,644 30,613 One -Year Variable Compensation 368,144 455,343 273,899 337,877 206,903 334,152 Total Short-Term Employee Benefits (IAS 24.17 (a)) 904,932 1,030,071 689,456 786,837 1,057,047 762,565 Service Cost 149,567 158,788 99,949 111,233 60,967 76,190 Total Benefit Expenses – Post-Employment Benefits (IAS 24.17 (b)) 149,567 158,788 99,949 111,233 60,967 76,190 One-Time 0 483,616 0 358,857 - 354,900 Multi-Year Variable Compensation 2: 2013 Convertible Bonds Program (Vesting Period 4 Years) 58,224 0 59,641 0 0 0 2013 Long-Term Incentive Program (Vesting Period 4 Years) 202,349 0 138,585 0 0 0 2014 Long-Term Incentive Program (Vesting Period 4 Years) 22,460 1,452 15,383 994 0 0 2015 Long-Term Incentive Program 67,635 26,657 46,324 18,257 0 0 2016 Long-Term Incentive Program 171,688 86,435 112,481 56,632 0 0 2017 Long-Term Incentive Program 163,906 104,449 107,395 68,437 107,395 68,437 2018 Long-Term Incentive Program 0 140,040 0 91,595 0 91,595 2017 Stock Option Plan 127,997 81,566 83,861 53,441 83,861 53,441 2018 Stock Option Plan 0 136,980 0 89,593 0 89,593 Total Share-Based Payment (IAS 24.17 (e)) 814,259 1,061,195 563,670 737,806 191,256 657,966 Total Compensation 1,868,758 2,250,054 1,353,075 1,635,876 1,309,270 1,496,721 1 In 2017, the fringe benefits of Dr. Malte Peters und Dr. Markus Enzelberger each included a one-time 2 The fair value was determined pursuant to the regulations of IFRS 2 “Share-based Payments”. This table shows the pro-rata Dr. Markus Enzelberger 3 Dr. Marlies Sproll 4 Chief Scientific Officer Dr. Arndt Schottelius Chief Development Officer Total Appointment (Interim-CSO): Temporary Leave: April 15, Resignation: February 28, 2017 2017 2018 2017 2018 2017 2018 2017 2018 204,698 321,300 222,450 - 103,253 - 1,685,429 1,663,409 417,158 31,211 20,427 - 9,161 - 1,094,207 141,203 121,688 269,892 67,745 - 23,490 - 1,061,869 1,397,264 743,544 622,403 310,622 - 135,904 - 3,841,505 3,201,876 29,186 68,515 77,976 - 28,245 - 445,890 414,726 29,186 68,515 77,976 - 28,245 - 445,890 414,726 - 286,650 0 - 0 - 0 1,484,023 0 0 39,879 - 39,879 - 197,623 0 0 0 138,585 - 138,585 - 618,104 0 0 0 15,383 - (42,038 ) - 11,188 2,446 0 0 46,324 - (79,105 ) - 81,178 44,914 0 0 112,481 - (76,828 ) - 319,822 143,067 68,979 105,222 80,538 - - - 528,213 346,545 0 91,595 0 - - - 0 414,825 53,875 82,185 62,898 - - - 412,492 270,633 0 89,593 0 - - - 405,759 122,854 655,245 496,088 - (19,507 ) - 2,168,620 3,112,212 895,584 1,346,163 884,686 - 144,642 - 6,456,015 6,728,814 3 The figures presented for 2017 for Dr. Markus Enzelberger do not include any compensation granted for his activities as a member of the Senior Management Group as they do not relate to his appointment as a member of the Management Board. 4 Dr. Marlies Sproll left the Management Board of MorphoSys AG on October 31, 2017. Since November 1, 2017, Dr. Marlies Sproll has taken on a new part-time role at MorphoSys as Special Adviser to the CEO. Therefore, the figures presented for Dr. Marlies Sproll do not include any remuneration granted for these activities. |
Summary of Supervisory Board Remuneration | SUPERVISORY BOARD REMUNERATION FOR THE YEARS 2018 AND 2017: Fixed Attendance Fees 1 Total Compensation in € 2018 2017 2018 2017 2018 2017 Dr. Marc Cluzel 76,742 52,160 32,400 26,800 109,142 78,960 Dr. Frank Morich 61,004 57,240 23,200 23,200 84,204 80,440 Krisja Vermeylen 49,916 28,961 24,400 16,000 74,316 44,961 Wendy Johnson 46,160 46,160 37,400 38,000 83,560 84,160 Dr. George Golumbeski 2 28,961 - 25,200 - 54,161 - Michael Brosnan 2 28,961 - 18,600 - 47,561 - Dr. Gerald Möller 3 36,558 95,156 11,800 36,800 48,358 131,956 Klaus Kühn 3 17,326 46,160 6,800 22,000 24,126 68,160 Karin Eastham 4 - 19,578 - 14,800 - 34,378 Total 345,628 345,415 179,800 177,600 525,428 523,015 1 The attendance fee contains expense allowances for the attendence at the Supervisory Board and the Committee meetings. 2 Dr. George Golumbeski and Michael Brosnan have joined the Supervisory Board of MorphoSys AG on May 17, 2018. 3 Dr. Gerald Möller and Klaus Kühn have left the Supervisory Board of MorphoSys AG AG on May 17, 2018. 4 Karin Eastham has left the Supervisory Board of MorphoSys AG AG on May 17, 2017. |
Additional Notes (Tables)
Additional Notes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text block [abstract] | |
Summary of Future Minimum Payments | The future minimum payments under non-terminable in 000’ € Rent and Other Total Up to One Year 2,935 1,577 4,512 Between One and Five Years 11,091 0 11,091 More than Five Years 8,504 0 8,504 Total 22,530 1,577 24,107 Additionally, the future payments shown in the table below may become due for outsourced studies after December 31, 2018. These amounts could be shifted or substantially lower due to changes in the study timeline or premature study termination. in million € Total Up to One Year 51.4 Between One and Five Years 45.6 More than Five Years 0.0 Total 97.0 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) - EUR (€) | Jan. 01, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of significant accounting policies [line items] | ||||
Change in research and development | € 3,500,000 | € 1,700,000 | ||
Change in general and administrative expenses | 1,300,000 | 700,000 | ||
Financial instruments | € 100,000 | |||
Revenue | € 76,442,505 | 66,790,840 | € 49,743,515 | |
Non-current prepaid expenses | 2,199,000 | 2,546,000 | ||
Other current liabilities | 832,000 | 3,586,000 | ||
Other non-current liabilities | 707,893 | 797,537 | ||
Maximum credit risk corresponded to carrying amounts of debt instruments | 44,600,000 | |||
Derivative financial instruments unrealized gross gain loss | € 100,000 | € (300,000) | ||
Increase in variable interest rate | 0.50% | 0.50% | 0.50% | |
Decrease in variable interest rate | 0.50% | 0.50% | 0.50% | |
Description of credit default swaps | The Group currently classifies an increase in credit risk on debt instruments as significant if the premium on a counterparty credit default swap exceeds 100 basis points at the reporting date (Level 2). | |||
Equity ratio | 90.60% | 86.30% | ||
Payment of investment subsidies | € 0 | € 0 | € 0 | |
Diluted number of shares | 120,214 | 87,904 | 99,764 | |
Dilutive effect of share options on number of ordinary shares | 52,930 | |||
Rent deposits [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Maximum credit risk of financial guarantees | € 700,000 | € 1,100,000 | ||
IAS 39 [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Carrying amounts of financial instruments | 0 | |||
Financial assets at amortized cost | 0 | |||
IFRS 15 [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Decrease in deferred revenue | 1,100,000 | |||
Decrease in accumulated deficit | 1,100,000 | |||
IAS 18 [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Revenue | 1,100,000 | |||
IFRS 16 [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Rights of use assets and lease liabilities | 40,600,000 | |||
IFRS 16 [member] | Prepaid Rent [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Current prepaid expenses | 300,000 | |||
Non-current prepaid expenses | 2,100,000 | |||
IFRS 16 [member] | Deferred rent -free [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Other current liabilities | 100,000 | |||
Other non-current liabilities | € 700,000 | |||
Patents [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Estimated useful lives | 10 years | |||
License rights [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Estimated useful lives | 8 - 10 years | |||
Software [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Estimated useful lives | 3 - 5 years | |||
Cash and cash equivalents [member] | IFRS9 [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial instruments | € 100,000 | |||
Currency risk [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Number of unsettled forward rate agreements | 9 | 12 | ||
Derivative financial instruments unrealized gross gain loss | € 100,000 | € (300,000) | € 100,000 | |
Ten percent increase in foreign exchange rate [member] | Currency risk [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Decrease in foreign exchange rates of income | (1,400,000) | (200,000) | (100,000) | |
Ten percent decrease in foreign exchange rate [member] | Currency risk [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Decrease in foreign exchange rates of income | 1,700,000 | 200,000 | 100,000 | |
0.5% increase in variable interest rate [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Increase in net result | 400,000 | 600,000 | 300,000 | |
0.5% decrease in variable interest rate [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Decrease in net result | 100,000 | 400,000 | € 500,000 | |
Single most important customer [member] | Credit risk [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Accounts receivable from customer | € 5,900,000 | € 5,100,000 | ||
Percentage of accounts receivable | 33.00% | 45.00% | ||
Customer one [member] | Credit risk [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Percentage of revenue from customer | 65.00% | 25.00% | 85.00% | |
Customer two [member] | Credit risk [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Percentage of revenue from customer | 25.00% | 25.00% | 5.00% | |
Customer three [member] | Credit risk [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Percentage of revenue from customer | 5.00% | 10.00% | 5.00% | |
Lanthio Pharma B.V [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Percentage of indirect ownership in subsidiary | 100.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of New and Revised Standards and Interpretations (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
IFRS 9 financial instruments [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2018 |
Adopted by the European Union | yes |
Impact on MorphoSys | yes |
IFRS 15 and IFRS 15A revenue from contracts with customers [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2018 |
Adopted by the European Union | yes |
Impact on MorphoSys | yes |
IFRS2A classification and measurement of sharebased payment transactions [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2018 |
Adopted by the European Union | yes |
Impact on MorphoSys | yes |
IFRS 4 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2018 |
Adopted by the European Union | yes |
Impact on MorphoSys | none |
IFRS 15C revenue from contracts with customers [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2018 |
Adopted by the European Union | yes |
Impact on MorphoSys | yes |
IAS 40A transfers of investment property [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2018 |
Adopted by the European Union | yes |
Impact on MorphoSys | none |
IFRICI 22 foreign currency transactions and advance consideration [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2018 |
Adopted by the European Union | yes |
Impact on MorphoSys | none |
Annual Improvements to IFRS Standards 2014-2016 Cycle [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2018 |
Adopted by the European Union | yes |
Impact on MorphoSys | none |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Reclassification of Financial Assets (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets [line items] | |||
Balance as of December 31, 2017 | € 343,069,000 | ||
Impairment | (1,035,000) | € 0 | € 0 |
Balance as of January 1, 2018 | 475,807,000 | 343,069,000 | |
Available-for-sale [member] | |||
Disclosure of financial assets [line items] | |||
Balance as of December 31, 2017 | 86,538,000 | ||
Reclassifications out of "Available-for-sale Financial Assets" | (86,538,000) | ||
Reclassifications out of "Financial Assets classified as Loans and Receivables" | 0 | ||
Impairment | 0 | ||
Balance as of January 1, 2018 | 0 | 86,538,000 | |
Financial assets at fair value through profit or loss, category [member] | |||
Disclosure of financial assets [line items] | |||
Balance as of December 31, 2017 | 0 | ||
Reclassifications into "Financial Assets at Fair Value through Profit or Loss" | 86,538,000 | ||
Reclassifications out of "Financial Assets classified as Loans and Receivables" | 0 | ||
Impairment | 0 | ||
Balance as of January 1, 2018 | 86,538,000 | 0 | |
Loans and receivables [member] | |||
Disclosure of financial assets [line items] | |||
Balance as of December 31, 2017 | 149,059,000 | ||
Reclassifications out of "Available-for-sale Financial Assets" | 0 | ||
Reclassifications out of "Financial Assets classified as Loans and Receivables" | (149,059,000) | ||
Impairment | 0 | ||
Balance as of January 1, 2018 | 0 | 149,059,000 | |
Financial assets at amortised cost, category [member] | |||
Disclosure of financial assets [line items] | |||
Balance as of December 31, 2017 | 0 | ||
Reclassifications out of "Available-for-sale Financial Assets" | 0 | ||
Reclassifications into "Other Financial Assets at Amortized Cost" | 149,059,000 | ||
Impairment | (136,000) | ||
Balance as of January 1, 2018 | € 148,923,000 | € 0 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Summary of Other Financial Assets at Amortized Cost (Detail) € in Thousands | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Revaluation reserve [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | € (105) |
Reclassifications of "Available-for-saleFinancial Assets" to "Financial Assets at Fair Value through Profit or Loss" | 105 |
Balance as of January 1, 2018 | 0 |
Accumulated deficit [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Reclassifications of "Available-for-saleFinancial Assets" to "Financial Assets at Fair Value through Profit or Loss" | (105) |
Balance as of January 1, 2018 | € (105) |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Summary of Expected Twelve-month Loss for Financial Instruments (Detail) € in Thousands | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | € 343,069 |
Balance as of January 1, 2018 | 475,807 |
Impairment allowance under IAS 39 [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Other Financial Assets at Amortized Cost | 0 |
Accounts Receivable | 0 |
Balance as of January 1, 2018 | 0 |
Accumulated deficit [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Other Financial Assets at Amortized Cost | (136) |
Accounts Receivable | (112) |
Balance as of January 1, 2018 | (248) |
Stage 1 [member] | Impairment allowance under IAS 39 [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Other Financial Assets at Amortized Cost | (136) |
Accounts Receivable | 0 |
Balance as of January 1, 2018 | (136) |
Stage 2 [member] | General impairment model [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Other Financial Assets at Amortized Cost | 0 |
Accounts Receivable | 0 |
Balance as of January 1, 2018 | 0 |
Stage 2 [member] | Simplified impairment model [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Other Financial Assets at Amortized Cost | 0 |
Accounts Receivable | (112) |
Balance as of January 1, 2018 | (112) |
Stage 3 [member] | General impairment model [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Other Financial Assets at Amortized Cost | 0 |
Accounts Receivable | 0 |
Balance as of January 1, 2018 | 0 |
Stage 3 [member] | Simplified impairment model [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Other Financial Assets at Amortized Cost | 0 |
Accounts Receivable | 0 |
Balance as of January 1, 2018 | € 0 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Summary of Contract Liabilities (Detail) | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | € 1,388,638 |
Balance as of December 31, 2017 | 306,385 |
Balance as of December 31, 2017 | 560,000 |
Balance as of January 1, 2018 | 794,230 |
Balance as of January 1, 2018 | 158,024 |
Balance as of January 1, 2018 | 952,000 |
Current portion of contract liability [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 1,389,000 |
Application of IFRS 15 | (1,041,000) |
Balance as of January 1, 2018 | 348,000 |
Contract liability net of current portion [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 306,000 |
Application of IFRS 15 | (94,000) |
Balance as of January 1, 2018 | 212,000 |
Accumulated deficit [member] | |
Disclosure of financial assets [line items] | |
Balance as of December 31, 2017 | 0 |
Application of IFRS 15 | 1,135,000 |
Balance as of January 1, 2018 | € 1,135,000 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Summary of New and Revised Standards and Interpretations, Which Were Not Yet Mandatory for Financial Year or Were Not Yet Adopted by European Union, Were Not Applied (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
IFRS 3 (A) business combinations [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2020 |
Adopted by the European Union | no |
Possible Impact on MorphoSys | none |
IFRS 16 leases [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2019 |
Adopted by the European Union | yes |
Possible Impact on MorphoSys | yes |
IFRS 17 insurance contracts [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2021 |
Adopted by the European Union | no |
Possible Impact on MorphoSys | none |
IFRS 9A prepayment features with negative compensation [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2019 |
Adopted by the European Union | yes |
Possible Impact on MorphoSys | none |
IAS 1 and IAS 8 (A) definition of material [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2020 |
Adopted by the European Union | no |
Possible Impact on MorphoSys | yes |
IAS 19A plan amendment curtailment or settlement [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2019 |
Adopted by the European Union | no |
Possible Impact on MorphoSys | none |
IAS 28A long term interests in associates and joint ventures [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2019 |
Adopted by the European Union | yes |
Possible Impact on MorphoSys | none |
IFRICI 23 uncertainty over income tax treatments [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2019 |
Adopted by the European Union | yes |
Possible Impact on MorphoSys | none |
IFRIC 23 uncertainty over income tax treatments [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2020 |
Adopted by the European Union | no |
Possible Impact on MorphoSys | none |
Amendments to references to the conceptual framework in IFRS standards [member] | |
Disclosure of significant accounting policies [line items] | |
Mandatory application for financial years starting on | 01/01/2019 |
Adopted by the European Union | no |
Possible Impact on MorphoSys | none |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - Summary of Subsidiaries Included from Consolidation (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Lanthio Pharma B.V [member] | |
Disclosure of significant accounting policies [line items] | |
Purchase of Shares /Establishment | May 2015 |
Included in Basis of Consolidation since | May 7, 2015 |
Lanthio Pep B.V [member] | |
Disclosure of significant accounting policies [line items] | |
Purchase of Shares /Establishment | May 2015 |
Included in Basis of Consolidation since | May 7, 2015 |
MorphoSys US Inc. [member] | |
Disclosure of significant accounting policies [line items] | |
Purchase of Shares /Establishment | July 2018 |
Included in Basis of Consolidation since | Jul. 2, 2018 |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - Summary of Changes in Impairment Losses for Credit Risks (Detail) - Credit risk [member] € in Thousands | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Disclosure of financial assets [line items] | |
Beginning balance | € (248) |
Unused Amounts Reversed | 112 |
Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year | (1,125) |
Change between Impairment Stages | 0 |
Amounts written off during the Year as uncollectible | 0 |
Ending balance | (1,261) |
Stage 1 [member] | General impairment model [member] | |
Disclosure of financial assets [line items] | |
Beginning balance | (136) |
Unused Amounts Reversed | 0 |
Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year | (570) |
Change between Impairment Stages | 41 |
Amounts written off during the Year as uncollectible | 0 |
Ending balance | (665) |
Stage 2 [member] | General impairment model [member] | |
Disclosure of financial assets [line items] | |
Beginning balance | 0 |
Unused Amounts Reversed | 0 |
Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year | (465) |
Change between Impairment Stages | (41) |
Amounts written off during the Year as uncollectible | 0 |
Ending balance | (506) |
Stage 2 [member] | Simplified impairment model [member] | |
Disclosure of financial assets [line items] | |
Beginning balance | (112) |
Unused Amounts Reversed | 112 |
Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year | (90) |
Change between Impairment Stages | 0 |
Amounts written off during the Year as uncollectible | 0 |
Ending balance | (90) |
Stage 3 [member] | General impairment model [member] | |
Disclosure of financial assets [line items] | |
Beginning balance | 0 |
Unused Amounts Reversed | 0 |
Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year | 0 |
Change between Impairment Stages | 0 |
Amounts written off during the Year as uncollectible | 0 |
Ending balance | 0 |
Stage 3 [member] | Simplified impairment model [member] | |
Disclosure of financial assets [line items] | |
Beginning balance | 0 |
Unused Amounts Reversed | 0 |
Increase in Impairment Losses for Credit Risks recognized in Profit or Loss during the Year | 0 |
Change between Impairment Stages | 0 |
Amounts written off during the Year as uncollectible | 0 |
Ending balance | € 0 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - Summary of Impairment Losses for Credit Risks on Financial Assets (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets [line items] | |||
Impairment | € (1,035,000) | € 0 | € 0 |
Carrying Amount | € 475,807,000 | € 343,069,000 | |
Credit risk [member] | Low [member] | Cash and cash equivalent [member] | |||
Disclosure of financial assets [line items] | |||
Internal Credit Rating | low | ||
Basis for Recognition of Expected Credit Loss Provision | Expected Twelve-Month Loss | ||
Gross Carrying Amount | € 43,165,000 | ||
Impairment | (16,000) | ||
Carrying Amount | € 43,149,000 | ||
Average Impairment Rate | 0.00% | ||
Credit risk [member] | Low [member] | Other financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Internal Credit Rating | low | ||
Basis for Recognition of Expected Credit Loss Provision | Expected Twelve-Month Loss | ||
Gross Carrying Amount | € 275,805,000 | ||
Impairment | (649,000) | ||
Carrying Amount | € 275,156,000 | ||
Average Impairment Rate | 0.20% | ||
Credit risk [member] | Low [member] | Accounts Receivable [member] | |||
Disclosure of financial assets [line items] | |||
Internal Credit Rating | low | ||
Basis for Recognition of Expected Credit Loss Provision | Lifetime Expected Credit Losses | ||
Gross Carrying Amount | € 17,823,000 | ||
Impairment | (90,000) | ||
Carrying Amount | € 17,733,000 | ||
Average Impairment Rate | 0.50% | ||
Credit risk [member] | Medium [member] | Other financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Internal Credit Rating | medium | ||
Basis for Recognition of Expected Credit Loss Provision | Lifetime Expected Credit Losses | ||
Gross Carrying Amount | € 93,102,000 | ||
Impairment | (506,000) | ||
Carrying Amount | € 92,596,000 | ||
Average Impairment Rate | 0.50% |
Summary of Significant Accou_14
Summary of Significant Accounting Policies - Summary of Accounts Receivables by Region (Detail) - EUR (€) | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of significant accounting policies [line items] | ||
Accounts receivables | € 17,732,933 | € 11,234,308 |
Impairment [member] | ||
Disclosure of significant accounting policies [line items] | ||
Accounts receivables | (90,000) | 0 |
Gross carrying amount [member] | Europe and Asia [member] | ||
Disclosure of significant accounting policies [line items] | ||
Accounts receivables | 13,176,523 | 8,838,884 |
Gross carrying amount [member] | USA and Canada [member] | ||
Disclosure of significant accounting policies [line items] | ||
Accounts receivables | 4,646,410 | 2,395,424 |
Gross carrying amount [member] | All other countries [member] | ||
Disclosure of significant accounting policies [line items] | ||
Accounts receivables | € 0 | € 0 |
Summary of Significant Accou_15
Summary of Significant Accounting Policies - Summary of Aging of Trade Receivables (Detail) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of significant accounting policies [line items] | ||
Accounts Receivable | € 17,822,933 | € 11,234,308 |
Impairment/Write-off | (90,000) | 0 |
Accounts Receivable, Net of Allowance for Impairment | 17,732,933 | 11,234,308 |
0 to 30 days [member] | ||
Disclosure of significant accounting policies [line items] | ||
Accounts Receivable | 17,822,933 | 11,234,308 |
Impairment/Write-off | (90,000) | 0 |
Accounts Receivable, Net of Allowance for Impairment | 17,732,933 | 11,234,308 |
Thirty One to Sixty Days [member] | ||
Disclosure of significant accounting policies [line items] | ||
Accounts Receivable | 0 | 0 |
Impairment/Write-off | 0 | 0 |
Accounts Receivable, Net of Allowance for Impairment | 0 | 0 |
Sixty plus days [member] | ||
Disclosure of significant accounting policies [line items] | ||
Accounts Receivable | 0 | 0 |
Impairment/Write-off | 0 | 0 |
Accounts Receivable, Net of Allowance for Impairment | € 0 | € 0 |
Summary of Significant Accou_16
Summary of Significant Accounting Policies - Summary of Maturities of Accounts Payable (Detail) - EUR (€) | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Accounts Payable [line items] | ||
Trade Accounts Payable | € 7,215,127 | € 4,621,918 |
Convertible Bonds due to Related Parties | 71,517 | 87,785 |
Not later than one year [member] | ||
Disclosure Of Accounts Payable [line items] | ||
Trade Accounts Payable | 7,215,127 | 4,621,918 |
Convertible Bonds due to Related Parties | 71,517 | 87,785 |
Later than one year [member] | ||
Disclosure Of Accounts Payable [line items] | ||
Trade Accounts Payable | 0 | 0 |
Convertible Bonds due to Related Parties | € 0 | € 0 |
Summary of Significant Accou_17
Summary of Significant Accounting Policies - Summary of Exposure to Foreign Currency Risk (Detail) | Dec. 31, 2018EUR (€) | Dec. 31, 2018USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) |
Disclosure of significant accounting policies [line items] | ||||||
Cash and Cash Equivalents | € 45,459,836 | € 76,589,129 | € 73,928,661 | € 90,927,673 | ||
Financial Assets at Fair Value through Profit or Loss | 44,581,264 | 0 | ||||
Available-for-sale Financial Assets | 0 | 86,538,195 | ||||
Financial Assets classified as Loans and Receivables | 0 | 149,059,254 | ||||
Accounts Receivable | 17,732,933 | 11,234,308 | ||||
Restricted Cash (included in Other Current Assets) | 432,000 | |||||
Accounts Payable and Accruals | (44,760,615) | (44,811,718) | ||||
Impairment [member] | ||||||
Disclosure of significant accounting policies [line items] | ||||||
Accounts Receivable | (90,000) | 0 | ||||
Currency risk [member] | ||||||
Disclosure of significant accounting policies [line items] | ||||||
Cash and Cash Equivalents | 45,459,836 | 76,589,129 | ||||
Financial Assets at Fair Value through Profit or Loss | 44,581,264 | |||||
Available-for-sale Financial Assets | 86,538,195 | |||||
Other Financial Assets at Amortized Cost | 364,671,783 | |||||
Financial Assets classified as Loans and Receivables | 149,059,254 | |||||
Accounts Receivable | 17,732,933 | 11,234,308 | ||||
Restricted Cash (included in Other Current Assets) | 782,326 | 1,132,782 | ||||
Accounts Payable and Accruals | (44,760,615) | (44,811,718) | ||||
Total | 428,467,527 | 279,741,950 | ||||
Currency risk [member] | Impairment [member] | ||||||
Disclosure of significant accounting policies [line items] | ||||||
Cash and Cash Equivalents | (16,000) | 0 | ||||
Financial Assets at Fair Value through Profit or Loss | 0 | |||||
Available-for-sale Financial Assets | 0 | |||||
Other Financial Assets at Amortized Cost | (1,152,000) | |||||
Financial Assets classified as Loans and Receivables | 0 | |||||
Accounts Receivable | (90,000) | 0 | ||||
Restricted Cash (included in Other Current Assets) | (3,000) | 0 | ||||
Accounts Payable and Accruals | 0 | 0 | ||||
Total | (1,261,000) | 0 | ||||
Currency risk [member] | Euro Member Countries, Euro [member] | Gross carrying amount [member] | ||||||
Disclosure of significant accounting policies [line items] | ||||||
Cash and Cash Equivalents | 38,732,565 | 74,289,250 | ||||
Financial Assets at Fair Value through Profit or Loss | 34,971,116 | |||||
Available-for-sale Financial Assets | 86,538,195 | |||||
Other Financial Assets at Amortized Cost | 365,823,783 | |||||
Financial Assets classified as Loans and Receivables | 149,059,254 | |||||
Accounts Receivable | 17,570,035 | 11,199,652 | ||||
Restricted Cash (included in Other Current Assets) | 772,425 | 1,132,782 | ||||
Accounts Payable and Accruals | (43,638,268) | (44,655,328) | ||||
Total | 414,231,656 | 277,563,805 | ||||
Currency risk [member] | United States of America, Dollars [member] | Gross carrying amount [member] | ||||||
Disclosure of significant accounting policies [line items] | ||||||
Cash and Cash Equivalents | $ | $ 6,743,271 | $ 2,299,879 | ||||
Financial Assets at Fair Value through Profit or Loss | $ | 9,610,148 | |||||
Available-for-sale Financial Assets | $ | 0 | |||||
Other Financial Assets at Amortized Cost | $ | 0 | |||||
Financial Assets classified as Loans and Receivables | $ | 0 | |||||
Accounts Receivable | $ | 252,898 | 34,656 | ||||
Restricted Cash (included in Other Current Assets) | $ | 12,901 | 0 | ||||
Accounts Payable and Accruals | $ | (1,122,347) | (156,390) | ||||
Total | $ | $ 15,496,871 | $ 2,178,145 | ||||
Currency risk [member] | Other Currency [member] | Gross carrying amount [member] | ||||||
Disclosure of significant accounting policies [line items] | ||||||
Cash and Cash Equivalents | 0 | 0 | ||||
Financial Assets at Fair Value through Profit or Loss | 0 | |||||
Available-for-sale Financial Assets | 0 | |||||
Other Financial Assets at Amortized Cost | 0 | |||||
Financial Assets classified as Loans and Receivables | 0 | |||||
Accounts Receivable | 0 | 0 | ||||
Restricted Cash (included in Other Current Assets) | 0 | 0 | ||||
Accounts Payable and Accruals | 0 | 0 | ||||
Total | € 0 | € 0 |
Summary of Significant Accou_18
Summary of Significant Accounting Policies - Summary of Fair Values of Financial Assets and Liabilities and Carrying Amounts (Detail) - EUR (€) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | € 45,459,836 | € 76,589,129 | € 73,928,661 | € 90,927,673 |
Available-for-sale Financial Assets | 0 | 86,538,195 | ||
Financial Assets at Fair Value through Profit or Loss | 44,581,264 | 0 | ||
Other Financial Assets at Amortized Cost, Net of Current Portion | 95,749,059 | 0 | ||
Financial Assets classified as Loans and Receivables | 0 | 149,059,254 | ||
Other Financial Assets at Amortized Cost | 268,922,724 | 0 | ||
Accounts Receivable | 17,732,933 | 11,234,308 | ||
Other Receivables | 85,000 | |||
Other Receivables | 147,000 | |||
Prepaid Expenses and Other Current Assets | 16,220,000 | |||
thereof Non-Financial Assets | 15,788,000 | |||
thereof Restricted Cash | 432,000 | |||
Current Assets | 376,844,000 | 339,725,000 | ||
Shares at Fair Value through Other Comprehensive Income | 232,000 | 0 | ||
Prepaid Expenses and Other Assets, Net of Current | 2,981,716 | 3,344,292 | ||
Portion thereof Non-Financial Assets | 2,271,000 | 2,643,000 | ||
Non-current Assets | 98,963,000 | 3,344,000 | ||
Total | 475,807,000 | 343,069,000 | ||
Accounts Payable and Accruals | (44,760,615) | (44,811,718) | ||
Accounts Payable and Accrued Expenses | (44,761,000) | (44,812,000) | ||
Other Provisions | (160,411) | (1,185,741) | ||
Provisions | (1,185,741) | |||
thereof Non-Financial Liabilities | (886,000) | |||
Current Liabilities | (44,761,000) | (45,998,000) | ||
Non-current Liabilities | (72,000) | (88,000) | ||
Total | (44,833,000) | (46,086,000) | ||
Available-for-sale [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | 0 | |||
Available-for-sale Financial Assets | 86,538 | |||
Accounts Receivable | 0 | |||
Other Receivables | 0 | |||
thereof Restricted Cash | 0 | |||
Current Assets | 86,538,000 | |||
Non-current Assets | 0 | |||
Total | 0 | 86,538,000 | ||
Accounts Payable and Accrued Expenses | 0 | |||
Current Liabilities | 0 | |||
Non-current Liabilities | 0 | |||
Total | 0 | |||
Fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Available-for-sale Financial Assets | 86,538 | |||
Financial liabilities at amortised cost [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | 0 | |||
Other Financial Assets at Amortized Cost | 0 | |||
Accounts Receivable | 0 | |||
Current Assets | 0 | |||
Non-current Assets | 0 | |||
Total | 0 | |||
Accounts Payable and Accrued Expenses | (44,761,000) | |||
Current Liabilities | (44,761,000) | |||
Non-current Liabilities | (72,000) | |||
Total | (44,833,000) | |||
Financial liabilities at fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | 0 | |||
Other Financial Assets at Amortized Cost | 0 | |||
Accounts Receivable | 0 | |||
Current Assets | 0 | |||
Non-current Assets | 0 | |||
Total | 0 | |||
Accounts Payable and Accrued Expenses | 0 | |||
Current Liabilities | 0 | |||
Non-current Liabilities | 0 | |||
Total | 0 | |||
Other financial liabilities [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | 0 | |||
Available-for-sale Financial Assets | 0 | |||
Accounts Receivable | 0 | |||
Other Receivables | 0 | |||
thereof Restricted Cash | 0 | |||
Current Assets | 0 | |||
Non-current Assets | 0 | |||
Total | 0 | |||
Accounts Payable and Accrued Expenses | (44,812,000) | |||
Current Liabilities | (45,112,000) | |||
Non-current Liabilities | (88,000) | |||
Total | (45,200,000) | |||
Financial assets at fair value through other comprehensive income [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | 0 | |||
Other Financial Assets at Amortized Cost | 0 | |||
Accounts Receivable | 0 | |||
Current Assets | 0 | |||
Non-current Assets | 232,000 | |||
Total | 232,000 | |||
Accounts Payable and Accrued Expenses | 0 | |||
Current Liabilities | 0 | |||
Non-current Liabilities | 0 | |||
Total | 0 | |||
Level 1 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets at Fair Value through Profit or Loss | 44,581,000 | |||
Financial Assets classified as Loans and Receivables | 149,059,000 | |||
Level 1 of fair value hierarchy [member] | Available-for-sale [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets classified as Loans and Receivables | 0 | |||
Level 1 of fair value hierarchy [member] | Financial liabilities at amortised cost [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets at Fair Value through Profit or Loss | 0 | |||
Level 1 of fair value hierarchy [member] | Financial liabilities at fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets at Fair Value through Profit or Loss | 0 | |||
Level 1 of fair value hierarchy [member] | Fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets at Fair Value through Profit or Loss | 44,581,000 | |||
Level 1 of fair value hierarchy [member] | Other financial liabilities [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets classified as Loans and Receivables | 0 | |||
Level 1 of fair value hierarchy [member] | Financial assets at fair value through other comprehensive income [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets at Fair Value through Profit or Loss | 0 | |||
Level 2 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 66,000 | |||
thereof Forward Exchange Contracts used for Hedging | (300,000) | |||
Other Financial Assets at Amortized Cost, Net of Current Portion | 95,749,000 | |||
thereof Restricted Cash | 711,000 | 701,000 | ||
Convertible Bonds - Liability Component | (72,000) | (88,000) | ||
Level 2 of fair value hierarchy [member] | Available-for-sale [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 0 | |||
thereof Restricted Cash | 0 | |||
Convertible Bonds - Liability Component | 0 | |||
Level 2 of fair value hierarchy [member] | Fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | (300,000) | |||
thereof Restricted Cash | 701,000 | |||
Convertible Bonds - Liability Component | (88,000) | |||
Level 2 of fair value hierarchy [member] | Financial liabilities at amortised cost [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 0 | |||
Other Financial Assets at Amortized Cost, Net of Current Portion | 0 | |||
thereof Restricted Cash | 0 | |||
Convertible Bonds - Liability Component | (72,000) | |||
Level 2 of fair value hierarchy [member] | Financial liabilities at fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 0 | |||
Other Financial Assets at Amortized Cost, Net of Current Portion | 0 | |||
thereof Restricted Cash | 0 | |||
Convertible Bonds - Liability Component | 0 | |||
Level 2 of fair value hierarchy [member] | Fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 66,000 | |||
Other Financial Assets at Amortized Cost, Net of Current Portion | 95,749,000 | |||
thereof Restricted Cash | 701,000 | |||
Convertible Bonds - Liability Component | (72,000) | |||
Level 2 of fair value hierarchy [member] | Other financial liabilities [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | (300,000) | |||
thereof Restricted Cash | 0 | |||
Convertible Bonds - Liability Component | (88,000) | |||
Level 2 of fair value hierarchy [member] | Financial assets at fair value through other comprehensive income [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 0 | |||
Other Financial Assets at Amortized Cost, Net of Current Portion | 0 | |||
thereof Restricted Cash | 0 | |||
Convertible Bonds - Liability Component | 0 | |||
Level 3 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Shares at Fair Value through Other Comprehensive Income | 232,000 | |||
Level 3 of fair value hierarchy [member] | Financial liabilities at amortised cost [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Shares at Fair Value through Other Comprehensive Income | 0 | |||
Level 3 of fair value hierarchy [member] | Financial liabilities at fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Shares at Fair Value through Other Comprehensive Income | 0 | |||
Level 3 of fair value hierarchy [member] | Fair value [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Shares at Fair Value through Other Comprehensive Income | 0 | |||
Level 3 of fair value hierarchy [member] | Financial assets at fair value through other comprehensive income [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Shares at Fair Value through Other Comprehensive Income | 232,000 | |||
Not classified into measurement category [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Non-Financial Assets | 15,788,000 | |||
Current Assets | 15,788,000 | |||
Portion thereof Non-Financial Assets | 2,271,000 | 2,643,000 | ||
Non-current Assets | 2,271,000 | 2,643,000 | ||
Total | 2,271,000 | 18,431,000 | ||
Other Provisions | (886,000) | |||
Current Liabilities | (886,000) | |||
Total | (886,000) | |||
Financial assets at amortised cost [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | 45,460,000 | |||
Other Financial Assets at Amortized Cost | 268,923,000 | |||
Accounts Receivable | 17,733,000 | |||
Other Receivables | 81,000 | |||
Current Assets | 332,197,000 | |||
Non-current Assets | 96,460,000 | |||
Total | 428,657,000 | |||
Accounts Payable and Accruals | 0 | |||
Current Liabilities | 0 | |||
Non-current Liabilities | 0 | |||
Total | 0 | |||
Financial assets at amortised cost [member] | Level 1 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets at Fair Value through Profit or Loss | 0 | |||
Financial assets at amortised cost [member] | Level 2 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 0 | |||
Other Financial Assets at Amortized Cost, Net of Current Portion | 95,749,000 | |||
thereof Restricted Cash | 711,000 | |||
Convertible Bonds - Liability Component | 0 | |||
Financial assets at amortised cost [member] | Level 3 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Shares at Fair Value through Other Comprehensive Income | 0 | |||
Financial assets at fair value through profit and loss [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | 0 | |||
Other Financial Assets at Amortized Cost | 0 | |||
Accounts Receivable | 0 | |||
Current Assets | 44,647,000 | |||
Non-current Assets | 0 | |||
Total | 44,647,000 | |||
Accounts Payable and Accruals | 0 | |||
Current Liabilities | 0 | |||
Non-current Liabilities | 0 | |||
Total | 0 | |||
Financial assets at fair value through profit and loss [member] | Level 1 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets at Fair Value through Profit or Loss | 44,581,000 | |||
Financial assets at fair value through profit and loss [member] | Level 2 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 66,000 | |||
Other Financial Assets at Amortized Cost, Net of Current Portion | 0 | |||
thereof Restricted Cash | 0 | |||
Convertible Bonds - Liability Component | 0 | |||
Financial assets at fair value through profit and loss [member] | Level 3 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Shares at Fair Value through Other Comprehensive Income | € 0 | |||
Loans and receivables [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Cash and Cash Equivalents | 76,589,000 | |||
Available-for-sale Financial Assets | 0 | |||
Accounts Receivable | 11,234,000 | |||
Other Receivables | 85,000 | |||
thereof Restricted Cash | 432,000 | |||
Current Assets | 237,399,000 | |||
Non-current Assets | 701,000 | |||
Total | 238,100,000 | |||
Accounts Payable and Accruals | 0 | |||
Current Liabilities | 0 | |||
Non-current Liabilities | 0 | |||
Total | 0 | |||
Loans and receivables [member] | Level 1 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
Financial Assets classified as Loans and Receivables | 149,059,000 | |||
Loans and receivables [member] | Level 2 of fair value hierarchy [member] | ||||
Disclosure of significant accounting policies [line items] | ||||
thereof Forward Exchange Contracts used for Hedging | 0 | |||
thereof Restricted Cash | 701,000 | |||
Convertible Bonds - Liability Component | € 0 |
Summary of Significant Accou_19
Summary of Significant Accounting Policies - Summary of Capital Management (Detail) - EUR (€) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of significant accounting policies [abstract] | ||||
Stockholders' Equity | € 488,372,634 | € 358,671,039 | € 415,460,165 | € 362,736,007 |
In % of Total Capital | 90.60% | 86.30% | ||
Total Liabilities | € 50,391,123 | € 56,727,172 | ||
In % of Total Capital | 9.40% | 13.70% | ||
Total Capital | € 538,763,757 | € 415,398,211 | € 463,600,000 |
Summary of Significant Accou_20
Summary of Significant Accounting Policies - Summary of Estimated Useful Life or Remaining Term of Lease of Property Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Computer Hardware [member] | |
Disclosure of significant accounting policies [line items] | |
Useful Life | 3 years |
Depreciation Rates | 33.00% |
Low-value Laboratory and Office Equipment [member] | |
Disclosure of significant accounting policies [line items] | |
Useful Life | Immediately |
Depreciation Rates | 100.00% |
Permanent Improvements to Property/Buildings [member] | |
Disclosure of significant accounting policies [line items] | |
Useful Life | 10 years |
Depreciation Rates | 10.00% |
Office equipment [member] | |
Disclosure of significant accounting policies [line items] | |
Useful Life | 8 years |
Depreciation Rates | 13.00% |
Laboratory Equipment [member] | |
Disclosure of significant accounting policies [line items] | |
Useful Life | 4 years |
Depreciation Rates | 25.00% |
Summary of Significant Accou_21
Summary of Significant Accounting Policies - Summary of Intangible Assets and Goodwill (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Patents [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | 10 years |
Amortization Rates | 10.00% |
License rights [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | 8 - 10 years |
In-process R&D programs [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | Not yet amortized, Impairment Only |
Software [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | 3 - 5 years |
Goodwill [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | Impairment Only |
Bottom of range [member] | License rights [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | 8 years |
Amortization Rates | 13.00% |
Bottom of range [member] | Software [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | 3 years |
Amortization Rates | 33.00% |
Top of range [member] | License rights [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | 10 years |
Amortization Rates | (10.00%) |
Top of range [member] | Software [member] | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |
Useful Life | 5 years |
Amortization Rates | (20.00%) |
Segment Reporting - Summary of
Segment Reporting - Summary of Segment Assets Based on Assets' Respective Locations (Detail) - EUR (€) | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of operating segments [line items] | |||||
External Revenues | € 76,442,505 | € 66,790,840 | € 49,743,515 | ||
Operating Expenses | (136,503,887) | (133,847,295) | (109,839,154) | ||
Segment Result | (60,062,000) | (67,056,000) | (60,096,000) | ||
Other Income | 1,644,632 | 1,119,598 | 708,571 | ||
Other Expenses | (689,343) | (1,670,792) | (553,925) | ||
Segment EBIT | (59,106,000) | (67,607,000) | (59,941,000) | ||
Finance Income | 417,886 | 712,397 | 1,385,164 | ||
Finance Expenses | (753,588) | (1,894,852) | (1,308,322) | ||
Impairment Losses on Financial Assets | (1,035,000) | 0 | 0 | ||
Earnings before Taxes | (60,477,000) | (68,790,000) | (59,864,000) | ||
Income Tax Benefit / (Expenses) | 4,304,674 | (1,036,365) | (518,625) | ||
Consolidated Net Loss | [1] | (56,172,121) | (69,826,469) | (60,382,776) | |
Current Assets | 388,905,295 | 340,680,638 | 308,056,000 | ||
Non-current Assets | 149,858,462 | 74,717,573 | 155,544,000 | ||
Total Segment Assets | 538,763,757 | 415,398,211 | 463,600,000 | ||
Current Liabilities | 45,923,290 | 47,701,041 | 38,302,000 | ||
Non-current Liabilities | 4,467,833 | 9,026,131 | 9,838,000 | ||
Stockholders' Equity | 488,372,634 | 358,671,039 | 415,460,165 | € 362,736,007 | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 538,763,757 | 415,398,211 | 463,600,000 | ||
Capital Expenditure | 2,466,000 | 13,150,000 | 2,913,000 | ||
Depreciation and Amortization | 3,750,000 | 4,030,000 | 3,764,000 | ||
Unallocated amounts [member] | |||||
Disclosure of operating segments [line items] | |||||
External Revenues | 0 | 0 | 0 | ||
Operating Expenses | (19,969,000) | (15,835,000) | (13,212,000) | ||
Segment Result | (19,969,000) | (15,835,000) | (13,212,000) | ||
Other Income | 1,486,000 | 963,000 | 382,000 | ||
Other Expenses | (689,000) | (1,671,000) | (554,000) | ||
Segment EBIT | (19,172,000) | (16,543,000) | (13,384,000) | ||
Current Assets | 365,949,000 | 313,825,000 | 276,484,000 | ||
Non-current Assets | 101,530,000 | 5,569,000 | 86,087,000 | ||
Total Segment Assets | 467,479,000 | 319,394,000 | 362,571,000 | ||
Current Liabilities | 12,285,000 | 10,610,000 | 14,842,000 | ||
Non-current Liabilities | 1,019,000 | 909,000 | 743,000 | ||
Stockholders' Equity | 488,373,000 | 358,671,000 | 415,460,000 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 501,677,000 | 370,190,000 | 431,045,000 | ||
Capital Expenditure | 268,000 | 204,000 | 374,000 | ||
Depreciation and Amortization | 418,000 | 400,000 | 375,000 | ||
Proprietary development segment [member] | Operating segments [member] | |||||
Disclosure of operating segments [line items] | |||||
External Revenues | 53,610,000 | 17,635,000 | 621,000 | ||
Operating Expenses | (107,019,000) | (99,106,000) | (78,515,000) | ||
Segment Result | (53,409,000) | (81,471,000) | (77,894,000) | ||
Other Income | 159,000 | 157,000 | 327,000 | ||
Other Expenses | 0 | 0 | 0 | ||
Segment EBIT | (53,250,000) | (81,314,000) | (77,567,000) | ||
Current Assets | 15,842,000 | 8,802,000 | 13,157,000 | ||
Non-current Assets | 42,041,000 | 60,658,000 | 59,292,000 | ||
Total Segment Assets | 57,883,000 | 69,460,000 | 72,449,000 | ||
Current Liabilities | 32,167,000 | 33,008,000 | 20,948,000 | ||
Non-current Liabilities | 3,291,000 | 7,072,000 | 6,930,000 | ||
Stockholders' Equity | 0 | 0 | 0 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 35,458,000 | 40,080,000 | 27,878,000 | ||
Capital Expenditure | 1,319,000 | 12,344,000 | 1,358,000 | ||
Depreciation and Amortization | 1,903,000 | 1,555,000 | 1,272,000 | ||
Partnered discovery segment [member] | Operating segments [member] | |||||
Disclosure of operating segments [line items] | |||||
External Revenues | 22,832,000 | 49,156,000 | 49,123,000 | ||
Operating Expenses | (9,516,000) | (18,906,000) | (18,113,000) | ||
Segment Result | 13,316,000 | 30,250,000 | 31,010,000 | ||
Other Income | 0 | 0 | 0 | ||
Other Expenses | 0 | 0 | 0 | ||
Segment EBIT | 13,316,000 | 30,250,000 | 31,010,000 | ||
Current Assets | 7,114,000 | 18,054,000 | 18,415,000 | ||
Non-current Assets | 6,288,000 | 8,490,000 | 10,165,000 | ||
Total Segment Assets | 13,402,000 | 26,544,000 | 28,580,000 | ||
Current Liabilities | 1,471,000 | 4,083,000 | 2,512,000 | ||
Non-current Liabilities | 158,000 | 1,045,000 | 2,165,000 | ||
Stockholders' Equity | 0 | 0 | 0 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,629,000 | 5,128,000 | 4,677,000 | ||
Capital Expenditure | 879,000 | 602,000 | 1,181,000 | ||
Depreciation and Amortization | € 1,429,000 | € 2,075,000 | € 2,117,000 | ||
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of operating segments [line items] | |||
Other operating expenses | € 136,503,887 | € 133,847,295 | € 109,839,154 |
Carrying amount of accounts receivable | 17,732,933 | 11,234,308 | |
Revenues | 76,442,505 | 66,790,840 | 49,743,515 |
Total investments | 2,466,000 | 13,150,000 | 2,913,000 |
Unallocated amounts [member] | |||
Disclosure of operating segments [line items] | |||
Other operating expenses | 19,969,000 | 15,835,000 | 13,212,000 |
Revenues | 0 | 0 | 0 |
Total investments | 268,000 | 204,000 | 374,000 |
Germany [member] | |||
Disclosure of operating segments [line items] | |||
Revenues | 309,000 | 851,000 | 1,621,000 |
Non-current assets, excluding deferred tax assets | 136,100,000 | 42,200,000 | |
Total investments | 2,400,000 | 13,100,000 | |
Netherlands [member] | |||
Disclosure of operating segments [line items] | |||
Non-current assets, excluding deferred tax assets | 13,700,000 | 32,600,000 | |
Total investments | 100,000 | 100,000 | |
Single most important customer [member] | |||
Disclosure of operating segments [line items] | |||
Carrying amount of accounts receivable | 5,900,000 | 5,100,000 | |
Proprietary development segment [member] | |||
Disclosure of operating segments [line items] | |||
Total impairments | 19,200,000 | 9,900,000 | 10,100,000 |
Proprietary development segment [member] | Largest customer [member] | |||
Disclosure of operating segments [line items] | |||
Revenues | 49,500,000 | ||
Proprietary development segment [member] | Second largest customer [member] | |||
Disclosure of operating segments [line items] | |||
Revenues | 16,800,000 | ||
Proprietary development segment [member] | Third largest customer [member] | |||
Disclosure of operating segments [line items] | |||
Revenues | 3,900,000 | ||
Partnered discovery segment [member] | Largest customer [member] | |||
Disclosure of operating segments [line items] | |||
Revenues | 36,900,000 | 42,100,000 | |
Partnered discovery segment [member] | Second largest customer [member] | |||
Disclosure of operating segments [line items] | |||
Revenues | € 19,000,000 | 2,500,000 | |
Partnered discovery segment [member] | Third largest customer [member] | |||
Disclosure of operating segments [line items] | |||
Revenues | € 6,700,000 | € 2,500,000 |
Segment Reporting - Summary o_2
Segment Reporting - Summary of Regional Distribution of Revenue (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of geographical areas [line items] | |||
Revenue | € 76,442,505 | € 66,790,840 | € 49,743,515 |
Germany [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 309,000 | 851,000 | 1,621,000 |
Europe and Asia [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 56,784,000 | 57,229,000 | 43,046,000 |
USA and Canada [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | € 19,350,000 | € 8,711,000 | € 5,077,000 |
Segment Reporting - Summary o_3
Segment Reporting - Summary of Timing of Recognition of Group Revenue (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of performance obligations [line items] | |||
Revenue | € 76,442,505 | € 66,790,840 | € 49,743,515 |
Operating segments [member] | Proprietary development segment [member] | |||
Disclosure of performance obligations [line items] | |||
Revenue | 53,610,000 | 17,635,000 | 621,000 |
Operating segments [member] | Partnered discovery segment [member] | |||
Disclosure of performance obligations [line items] | |||
Revenue | 22,832,000 | € 49,156,000 | € 49,123,000 |
Operating segments [member] | Performance obligations satisfied at point in time [member] | Proprietary development segment [member] | |||
Disclosure of performance obligations [line items] | |||
Revenue | 53,610,000 | ||
Operating segments [member] | Performance obligations satisfied at point in time [member] | Partnered discovery segment [member] | |||
Disclosure of performance obligations [line items] | |||
Revenue | 22,268,000 | ||
Operating segments [member] | Performance obligations satisfied over time [member] | Proprietary development segment [member] | |||
Disclosure of performance obligations [line items] | |||
Revenue | 0 | ||
Operating segments [member] | Performance obligations satisfied over time [member] | Partnered discovery segment [member] | |||
Disclosure of performance obligations [line items] | |||
Revenue | € 564,000 |
Segment Reporting - Summary o_4
Segment Reporting - Summary of Timing of Recognition of Group Revenue (Parenthetical) (Detail) - Performance obligations satisfied at point in time [member] - Operating segments [member] € in Millions | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Proprietary development segment [member] | |
Disclosure of performance obligations [line items] | |
Performance obligations fulfilled in previous periods | € 0 |
Partnered discovery segment [member] | |
Disclosure of performance obligations [line items] | |
Performance obligations fulfilled in previous periods | € 19 |
Notes to Profit or Loss - Reven
Notes to Profit or Loss - Revenues - Additional Information (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of revenue [line items] | |||
Revenues | € 76,442,505 | € 66,790,840 | € 49,743,515 |
Service fee revenues [member] | |||
Disclosure of revenue [line items] | |||
Revenues | 5,900,000 | 22,000,000 | 21,400,000 |
Service fee revenues [member] | Proprietary development segment [member] | |||
Disclosure of revenue [line items] | |||
Revenues | 3,000,000 | 800,000 | 600,000 |
Service fee revenues [member] | Partnered discovery segment [member] | |||
Disclosure of revenue [line items] | |||
Revenues | 2,900,000 | 21,200,000 | 20,800,000 |
Milestone payments and royalties [member] | |||
Disclosure of revenue [line items] | |||
Revenue from performance obligations satisfied or partially satisfied in previous periods | 19,000,000 | 7,800,000 | 7,100,000 |
Milestone payments and royalties [member] | Partnered discovery segment [member] | |||
Disclosure of revenue [line items] | |||
Revenues | 19,300,000 | 7,300,000 | 5,600,000 |
License fees [member] | |||
Disclosure of revenue [line items] | |||
Revenues | 51,200,000 | 37,500,000 | 22,800,000 |
License fees [member] | Proprietary development segment [member] | |||
Disclosure of revenue [line items] | |||
Revenues | 50,600,000 | 16,800,000 | |
License fees [member] | Partnered discovery segment [member] | |||
Disclosure of revenue [line items] | |||
Revenues | € 600,000 | € 20,700,000 | € 22,800,000 |
Notes to Profit or Loss - Summa
Notes to Profit or Loss - Summary of Cost of Sales (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cost of sales [line items] | |||
Cost of sales | € 1,796,629 | € 0 | € 0 |
Personnel expenses [member] | |||
Cost of sales [line items] | |||
Cost of sales | € 1,797,000 | € 0 | € 0 |
Notes to Profit or Loss - Sum_2
Notes to Profit or Loss - Summary of Research and Development Expenses (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Research And Development [line items] | |||
Research and development expenses | € 106,397,017 | € 113,313,679 | € 93,962,975 |
Personnel expenses [member] | |||
Research And Development [line items] | |||
Research and development expenses | 25,288,000 | 28,482,000 | 25,145,000 |
Consumable supplies [member] | |||
Research And Development [line items] | |||
Research and development expenses | 2,310,000 | 2,588,000 | 2,321,000 |
Other operating expenses [member] | |||
Research And Development [line items] | |||
Research and development expenses | 2,761,000 | 2,757,000 | 2,608,000 |
Impairment, amortization and other costs of intangible assets [member] | |||
Research And Development [line items] | |||
Research and development expenses | 22,760,000 | 13,503,000 | 13,689,000 |
External services [member] | |||
Research And Development [line items] | |||
Research and development expenses | 47,889,000 | 61,119,000 | 44,311,000 |
Depreciation and other costs for infrastructure [member] | |||
Research And Development [line items] | |||
Research and development expenses | € 5,389,000 | € 4,865,000 | € 5,889,000 |
Notes to Profit or Loss - Sum_3
Notes to Profit or Loss - Summary of Selling Expenses (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of selling expenses [line items] | |||
Selling expenses | € 6,382,510 | € 4,816,038 | € 2,444,224 |
Personnel expenses [member] | |||
Disclosure of selling expenses [line items] | |||
Selling expenses | 2,536,000 | 1,771,000 | 1,661,000 |
Consumable supplies [member] | |||
Disclosure of selling expenses [line items] | |||
Selling expenses | 3,000 | 1,000 | 1,000 |
Other operating expenses [member] | |||
Disclosure of selling expenses [line items] | |||
Selling expenses | 538,000 | 386,000 | 444,000 |
Amortization of intangible assets [member] | |||
Disclosure of selling expenses [line items] | |||
Selling expenses | 25,000 | 0 | 0 |
External services [member] | |||
Disclosure of selling expenses [line items] | |||
Selling expenses | 2,953,000 | 2,658,000 | 338,000 |
Depreciation and other costs for infrastructure [member] | |||
Disclosure of selling expenses [line items] | |||
Selling expenses | € 328,000 | € 0 | € 0 |
Notes to Profit or Loss - Sum_4
Notes to Profit or Loss - Summary of General and Administrative Expenses (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of general and administrative expense [Line items] | |||
General and administrative expenses | € 21,927,731 | € 15,717,578 | € 13,431,955 |
Personnel expenses [member] | |||
Disclosure of general and administrative expense [Line items] | |||
General and administrative expenses | 15,016,000 | 11,797,000 | 9,208,000 |
Consumable supplies [member] | |||
Disclosure of general and administrative expense [Line items] | |||
General and administrative expenses | 15,000 | 33,000 | 97,000 |
Other operating expenses [member] | |||
Disclosure of general and administrative expense [Line items] | |||
General and administrative expenses | 1,012,000 | 714,000 | 847,000 |
Amortization of intangible assets [member] | |||
Disclosure of general and administrative expense [Line items] | |||
General and administrative expenses | 97,000 | 112,000 | 111,000 |
External services [member] | |||
Disclosure of general and administrative expense [Line items] | |||
General and administrative expenses | 4,475,000 | 2,224,000 | 2,244,000 |
Depreciation and other costs for infrastructure [member] | |||
Disclosure of general and administrative expense [Line items] | |||
General and administrative expenses | € 1,313,000 | € 838,000 | € 925,000 |
Notes to Profit or Loss - Sum_5
Notes to Profit or Loss - Summary of Personnel Expenses (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of personnel expense [abstract] | |||
Wages and Salaries | € 30,349 | € 28,196 | € 27,146 |
Social Security Contributions | 4,341 | 4,542 | 4,570 |
Share-based Payment Expense | 5,585 | 4,975 | 2,357 |
Temporary Staff (External) | 1,241 | 881 | 1,061 |
Other | 3,121 | 3,456 | 880 |
Total | € 44,637 | € 42,050 | € 36,014 |
Notes to Profit or Loss - Perso
Notes to Profit or Loss - Personnel Expenses - Additional Information (Detail) | 12 Months Ended | ||||||||
Dec. 31, 2018EUR (€)Employees | Dec. 31, 2017EUR (€)Employees | Dec. 31, 2016EUR (€)Employees | Dec. 31, 2015EUR (€) | Dec. 31, 2014EUR (€) | Dec. 31, 2013EUR (€) | Dec. 31, 2012EUR (€) | Dec. 31, 2011EUR (€) | Dec. 31, 2010EUR (€) | |
Disclosure of personnel expense [line items] | |||||||||
Treasury shares | € | € 10,398,773 | € 11,826,981 | € 14,648,212 | € 15,827,946 | € 14,251,962 | € 6,418,018 | € 3,594,393 | € 1,756,841 | € 9,774 |
Average number of employees | 327 | 344 | 354 | ||||||
Number of employees | 329 | 326 | 345 | ||||||
Costs for defined-contribution plans | € | € 700,000 | € 600,000 | € 500,000 | ||||||
Unallocated employees [member] | |||||||||
Disclosure of personnel expense [line items] | |||||||||
Number of employees | 71 | 60 | 54 | ||||||
Personnel expenses [member] | |||||||||
Disclosure of personnel expense [line items] | |||||||||
Treasury shares | € | € 2,100,000 | ||||||||
Research and development [member] | |||||||||
Disclosure of personnel expense [line items] | |||||||||
Number of employees | 246 | 253 | 280 | ||||||
Selling Expenses [member] | |||||||||
Disclosure of personnel expense [line items] | |||||||||
Number of employees | 21 | 14 | 12 | ||||||
General and administrative [member] | |||||||||
Disclosure of personnel expense [line items] | |||||||||
Number of employees | 62 | 59 | 53 | ||||||
Proprietary development segment [member] | |||||||||
Disclosure of personnel expense [line items] | |||||||||
Number of employees | 209 | 161 | 135 | ||||||
Partnered discovery segment [member] | |||||||||
Disclosure of personnel expense [line items] | |||||||||
Number of employees | 49 | 105 | 156 |
Notes to Profit or Loss - Sum_6
Notes to Profit or Loss - Summary of Other Income and Expenses, Finance Income and Expenses (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Analysis of income and expense [abstract] | |||
Grant Income | € 153,000 | € 157,000 | € 327,000 |
Gain on Foreign Exchange | 677,000 | 485,000 | 192,000 |
Gain from recognition of previously unrecognized intangible assets | 350,000 | 0 | 0 |
Reversal of Impairment for Accounts Receivable Previously Deemed Impaired | 0 | 76,000 | 15,000 |
Miscellaneous Income | 465,000 | 402,000 | 175,000 |
Other Income | 1,644,632 | 1,119,598 | 708,571 |
Loss on Foreign Exchange | (457,000) | (844,000) | (400,000) |
Impairment of Other Receivables | 0 | 0 | (7,000) |
Miscellaneous Expenses | (232,000) | (827,000) | (147,000) |
Other Expenses | (689,343) | (1,670,792) | (553,925) |
Gain on Financial Assets at Fair Value through Profit or Loss (2017 and 2016: Gain on Available-for-sale Financial Assets and Bonds) | 5,000 | 35,000 | 294,000 |
Interest Income on Other Financial Assets at Amortized Cost | 91,000 | 236,000 | 1,017,000 |
Gain on Derivatives | 322,000 | 441,000 | 74,000 |
Finance Income | 417,886 | 712,397 | 1,385,164 |
Loss on Financial Assets at Fair Value through Profit or Loss (2017 and 2016: Loss on Available-for-sale Financial Assets and Bonds) | (85,000) | (120,000) | (1,209,000) |
Interest Expenses for Other Financial Assets at Amortized Cost | (53,000) | (374,000) | (20,000) |
Interest Expenses for Financial Liabilites at Amortized Cost | (126,000) | 0 | 0 |
Loss on Derivatives | (444,000) | (1,360,000) | (44,000) |
Bank Fees | (46,000) | (41,000) | (35,000) |
Finance Expenses | € (753,588) | € (1,894,852) | € (1,308,322) |
Notes to Profit or Loss - Sched
Notes to Profit or Loss - Schedule of Net Gains or Losses Resulted from Financial Instruments (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about financial instruments [line items] | |||
Net Gains or Losses from Financial Instruments | € (1,433) | € (1,273) | € (121) |
Financial assets at fair value through profit or loss, category [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Net Gains or Losses from Financial Instruments | (202) | (919) | 30 |
Other financial assets at amortised cost [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Net Gains or Losses from Financial Instruments | (978) | 0 | 0 |
Shares at fair value through other comprehensive income [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Net Gains or Losses from Financial Instruments | (127) | 0 | 0 |
Financial liabilities at amortised cost [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Net Gains or Losses from Financial Instruments | (126) | 0 | 0 |
Available-for-sale [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Net Gains or Losses from Financial Instruments | 0 | (190) | (1,069) |
Financial Assets classified as loans and receivables [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Net Gains or Losses from Financial Instruments | € 0 | € (164) | € 918 |
Notes to Profit or Loss - Incom
Notes to Profit or Loss - Income Tax Expenses/Income - Additional Information (Detail) - EUR (€) | Jan. 01, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Major Components Of Tax Expense Income [line items] | ||||
Corporate tax rate | 15.00% | |||
Solidarity surcharge | 5.50% | |||
Effective trade tax rate | 10.85% | |||
Federal corporate income tax rate | (21.00%) | |||
State income tax rate | (9.00%) | |||
Income tax rate | 26.675% | 26.675% | 26.675% | |
Change in tax rate | 7.00% | 5.00% | ||
Deferred tax assets on tax loss carryforwards | € 51,000,000 | € 37,400,000 | ||
Deferred tax assets on temporary differences | 700,000 | 500,000 | ||
Changes in investments in subsidiaries | 1,000,000 | 200,000 | ||
Deferred tax liabilities | € 0 | |||
Deferred tax assets | 0 | |||
Lanthio group [member] | ||||
Major Components Of Tax Expense Income [line items] | ||||
Deferred tax benefit from impairment on intangible assets | € 3,800,000 | |||
Top of range [member] | ||||
Major Components Of Tax Expense Income [line items] | ||||
Income tax rate | 25.00% | |||
Annual income | € 200,000 | |||
Bottom of range [member] | ||||
Major Components Of Tax Expense Income [line items] | ||||
Income tax rate | 20.00% | |||
Annual income | € 200,000 |
Notes to Profit or Loss - Sum_7
Notes to Profit or Loss - Summary of Income Taxes (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Major components of tax expense (income) [abstract] | |||
Current Tax Income / (Expense) | € 1,000 | € (534,000) | € 45,000 |
Deferred Tax Benefit / (Expenses) | 4,304,000 | (502,000) | (564,000) |
Actual Income Tax | 4,304,674 | (1,036,365) | (518,625) |
Total Amount of Current Taxes Resulting from Entries Directly Recognized in Other Comprehensive Income | 0 | 0 | (82,000) |
Total Amount of Deferred Taxes Resulting from Entries Directly Recognized in Other Comprehensive Income | 0 | 0 | (112,000) |
Total Amount of Tax Effects Resulting from Entries Directly Recognized in Equity or Other Comprehensive Income | € 0 | € 0 | € (194,000) |
Notes to Profit or Loss - Sum_8
Notes to Profit or Loss - Summary of Income Taxes (Parenthetical) (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Major components of tax expense (income) [abstract] | |||
Current tax of prior period | € 1 | € 171 | € (60) |
Notes to Profit or Loss - Sum_9
Notes to Profit or Loss - Summary of Reconciliation of Expected Income Tax Expense with Actual Income Tax Expense (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Earnings Before Income Taxes | € (60,477,000) | € (68,790,000) | € (59,864,000) |
Expected Tax Rate | 26.675% | 26.675% | 26.675% |
Expected Income Tax | € 16,132,000 | € 18,350,000 | € 15,969,000 |
Tax Effects Resulting from: | |||
Share-based Payment | (363,000) | (290,000) | 5,000 |
Non-Tax-Deductible Items | (126,000) | (134,000) | (135,000) |
Differences in Profit or Loss-Neutral Adjustments | 3,716,000 | 37,000 | 812,000 |
Non-Recognition of Deferred Tax Assets on Temporary Differences | (349,000) | 3,256,000 | (3,766,000) |
Non-Recognition of Deferred Tax Assets on Current Year Tax Losses | (14,497,000) | (22,007,000) | (13,354,000) |
Tax Rate Differences to Local Tax Rates | (268,000) | (71,000) | (46,000) |
Prior Year Taxes | 1,000 | (171,000) | 0 |
Other Effects | 59,000 | (6,000) | (4,000) |
Actual Income Tax | € 4,304,674 | € (1,036,365) | € (518,625) |
Notes to Profit or Loss - Sch_2
Notes to Profit or Loss - Schedule of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - EUR (€) € in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred Tax Asset | € 810 | € 489 |
Deferred Tax Liability | 4,317 | 8,300 |
Intangible asset [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred Tax Asset | 0 | 0 |
Deferred Tax Liability | 4,317 | 8,297 |
Receivables and other assets [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred Tax Asset | 319 | 0 |
Deferred Tax Liability | 0 | 0 |
Prepaid expenses and deferred charges [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred Tax Asset | 0 | 0 |
Deferred Tax Liability | 0 | 3 |
Other provisions [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred Tax Asset | 278 | 253 |
Deferred Tax Liability | 0 | 0 |
Other liabilities [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred Tax Asset | 213 | 236 |
Deferred Tax Liability | € 0 | € 0 |
Notes to Profit or Loss - Sch_3
Notes to Profit or Loss - Schedule of Changes in Deferred Taxes (Detail) € in Thousands | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Intangible asset [member] | |
Disclosure of Reconciliation of Changes in Deferred Tax Liability Asset [line items] | |
Recognized in Profit or Loss Income / (Expense) | € 3,980 |
Recognized in Other Comprehensive Income | 0 |
Advance payment [member] | |
Disclosure of Reconciliation of Changes in Deferred Tax Liability Asset [line items] | |
Recognized in Profit or Loss Income / (Expense) | 319 |
Recognized in Other Comprehensive Income | 0 |
Prepaid expenses and deferred charges [member] | |
Disclosure of Reconciliation of Changes in Deferred Tax Liability Asset [line items] | |
Recognized in Profit or Loss Income / (Expense) | 3 |
Recognized in Other Comprehensive Income | 0 |
Other provisions [member] | |
Disclosure of Reconciliation of Changes in Deferred Tax Liability Asset [line items] | |
Recognized in Profit or Loss Income / (Expense) | 25 |
Recognized in Other Comprehensive Income | 0 |
Other liabilities [member] | |
Disclosure of Reconciliation of Changes in Deferred Tax Liability Asset [line items] | |
Recognized in Profit or Loss Income / (Expense) | (23) |
Recognized in Other Comprehensive Income | 0 |
Deferred Tax [member] | |
Disclosure of Reconciliation of Changes in Deferred Tax Liability Asset [line items] | |
Recognized in Profit or Loss Income / (Expense) | 4,304 |
Recognized in Other Comprehensive Income | € 0 |
Notes to Profit or Loss - Earni
Notes to Profit or Loss - Earnings Per Share - Additional Information (Detail) - EUR (€) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Weighted Average Number of Equity Shares Used In Computing Earnings per Share [abstract] | ||||
Consolidated Net Loss | [1] | € 56,172,121 | € 69,826,469 | € 60,382,776 |
Weighted-average number of ordinary shares outstanding | 31,338,948 | 28,947,566 | 26,443,415 | |
Effect of potentially dilutive shares | 120,214 | 87,904 | 99,764 | |
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. |
Notes to Profit or Loss - Calcu
Notes to Profit or Loss - Calculation of Weighted Average Number of Ordinary Shares (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of information about weighted average number of common stock [line items] | |||
Shares Issued on January 1 | 31,839,572 | 29,420,785 | |
Weighted-average Number of Shares of Common Stock | 31,338,948 | 28,947,566 | 26,443,415 |
Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Shares Issued on January 1 | 29,420,785 | 29,159,770 | |
Effect of Treasury Shares Held on January 1 | (319,678) | (396,010) | |
Effect of Share Issuance | 2,208,146 | 0 | |
Weighted-average Number of Shares of Common Stock | 31,338,948 | 28,947,566 | |
Shares Issued in January [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 278 | 0 | |
Shares Issued in February [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 0 | 0 | |
Shares Issued in March [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 0 | 0 | |
Shares Issued in April [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 1,863 | 154,250 | |
Shares Issued in May [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 4,128 | 3,778 | |
Shares Issued in June [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 756 | 1,094 | |
Shares Issued in July [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 1,874 | 2,038 | |
Shares Issued in August [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 17,754 | 2,669 | |
Shares Issued in September [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 2,818 | 3,976 | |
Shares Issued in October [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 76 | 2,566 | |
Shares Issued in November [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 85 | 5,549 | |
Shares Issued in December [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 63 | 127 | |
Key management personnel of entity or parent [member] | Treasury shares and common shares [member] | |||
Disclosure of information about weighted average number of common stock [line items] | |||
Effect of Transfer of Treasury Stock | 0 | 7,759 |
Notes to the Assets of the Ba_3
Notes to the Assets of the Balance Sheet - Summary of Cash and Cash Equivalents (Detail) - EUR (€) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Cash and cash equivalents [abstract] | ||||
Bank Balances and Cash in Hand | € 45,476,000 | € 76,589,000 | ||
Impairment | (16,000) | 0 | ||
Cash and Cash Equivalents | € 45,459,836 | € 76,589,129 | € 73,928,661 | € 90,927,673 |
Notes to the Assets of the Ba_4
Notes to the Assets of the Balance Sheet - Additional Information (Detail) - EUR (€) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2018 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of assets of balance sheet [line items] | ||||||
Net gain from disposal of available-for-sale financial assets | € 100,000 | € 100,000 | € 300,000 | |||
Interest income from financial assets under loans and receivables | 200,000 | 900,000 | ||||
Interest income from financial assets at amortized cost | € 100,000 | |||||
Non-interest bearing payment terms | Between 30 and 45 days | |||||
Unbilled receivables | € 14,100,000 | € 14,100,000 | 5,300,000 | |||
Allowances for doubtful receivables recognized in profit and loss | 0 | 0 | ||||
Derivative financial instruments unrealized gross gain loss | 100,000 | (300,000) | ||||
Impairment recognized for other receivables | 0 | 0 | 7,000 | |||
Income tax receivables | 200,000 | 200,000 | 700,000 | |||
Inventories | 245,161 | 245,161 | 300,753 | |||
Prepaid expenses and other current assets consisted of combination compounds | 5,400,000 | 5,400,000 | 11,200,000 | |||
Receivables from input tax surplus towards tax authorities | 2,700,000 | 2,700,000 | 2,400,000 | |||
Other prepayments | 1,300,000 | 1,300,000 | 1,100,000 | |||
Impairment on combination compounds | 4,800,000 | |||||
Impairment loss recognised in profit or loss, property, plant and equipment | 0 | 0 | € 0 | |||
Borrowing costs capitalised | 0 | |||||
Contractual commitments for the purchase of property, plant and equipment | 0 | 0 | ||||
Carrying amount of intangible assets pledged as security | 13,100,000 | 13,100,000 | ||||
Carrying amount of intangible assets related to government grant | 1,500,000 | 1,500,000 | ||||
Goodwill | 3,676,233 | 3,676,233 | 7,364,802 | |||
Fair value of the investment | 200,000 | 200,000 | ||||
Decrease of the fair value of investment | € 100,000 | |||||
Significant unobservable input parameters used in planning assumptions | A change in the pre-tax WACC of +/- 1.0% would cause a € 0.1 million lower or € 0.1 million higher amount of equity. | |||||
Long-term restricted cash | 700,000 | € 700,000 | 700,000 | |||
Convertible bonds granted to employees | 71,517 | 71,517 | 87,785 | |||
Equity investments [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Cash contribution | 9,458 | 9,458 | ||||
Contribution in kind | 350,000 | € 350,000 | ||||
Date of acquisition | Jul. 19, 2018 | |||||
Ownership percentage | 19.90% | |||||
Laboratory services [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Prepaid fees | 1,900,000 | € 1,900,000 | 600,000 | |||
Sub licenses [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Prepaid fees | 400,000 | 400,000 | 400,000 | |||
Rent deposits [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Restricted cash | 0 | 0 | € 400,000 | |||
2010 Acquisition of Sloning BioTechnology GmbH [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Goodwill | 3,700,000 | 3,700,000 | ||||
Lanthio group [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Impairment | 17,100,000 | |||||
Lanthio group [member] | Proprietary development segment [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Impairment loss recognised in profit or loss, intangible assets | 13,100,000 | |||||
Value in use of cash generating units with goodwill | € 13,300,000 | 13,300,000 | ||||
Research and development [member] | Lanthio group [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Impairment loss recognised in profit or loss, intangible assets | € 1,700,000 | |||||
Impairment of goodwill | € 13,400,000 | |||||
Goodwill [member] | 2010 Acquisition of Sloning BioTechnology GmbH [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Cash flow projection period | 10 years | |||||
Beta factor | 1.20% | 1.20% | 1.20% | |||
WACC before taxes | 9.60% | 9.60% | 10.60% | |||
Perpetual growth rate | 1.00% | 1.00% | 1.00% | |||
Goodwill [member] | Lanthio group [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Cash flow projection period | 30 years | |||||
Beta factor | 1.20% | 1.20% | 1.20% | |||
WACC before taxes | 11.50% | 11.50% | 12.10% | |||
Impairment of goodwill | € 3,700,000 | |||||
Goodwill [member] | Lanthio group [member] | Proprietary development segment [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Intangible asset with indefinite useful life | € 26,500,000 | 26,500,000 | ||||
Goodwill | 3,700,000 | 3,700,000 | ||||
MOR 208 [member] | Proprietary development segment [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Intangible asset with indefinite useful life | € 23,900,000 | € 23,900,000 | ||||
Cash flow projection period | 20 years | |||||
Beta factor | 1.20% | 1.20% | 1.20% | |||
WACC before taxes | 10.00% | 10.00% | 9.40% | |||
Patents and licences [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Impairment loss recognised in profit or loss, intangible assets | € 400,000 | € 100,000 | ||||
Patents 1 [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Carrying amount of intangible assets | € 3,900,000 | 3,900,000 | 4,700,000 | |||
Carrying amount of intangible assets declined | 800,000 | 800,000 | ||||
Additions | 600,000 | |||||
Patents 1 [member] | Proprietary programs and technologies [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Amortization expense | 1,300,000 | |||||
License rights [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Carrying amount of intangible assets | 500,000 | 500,000 | 3,000,000 | |||
Carrying amount of intangible assets declined | 2,500,000 | 2,500,000 | ||||
In-process R&D programs [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Impairment loss recognised in profit or loss, intangible assets | 13,400,000 | € 1,700,000 | ||||
Carrying amount of intangible assets | 37,000,000 | 37,000,000 | ||||
Carrying amount of intangible assets decreased | 15,100,000 | 15,100,000 | ||||
Impairment | 15,100,000 | |||||
Software [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Carrying amount of intangible assets | 200,000 | 200,000 | 700,000 | |||
Carrying amount of intangible assets declined | 500,000 | 500,000 | ||||
Amortization expense | 600,000 | |||||
Additions | 100,000 | |||||
Rent deposits [member] | ||||||
Disclosure of assets of balance sheet [line items] | ||||||
Restricted cash | € 700,000 | € 700,000 | € 1,100,000 |
Notes to the Assets of the Ba_5
Notes to the Assets of the Balance Sheet - Summary of Available-For-Sale Financial Assets (Detail) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | ||
Market Value | € 0 | € 86,538,195 |
Money market funds 1 [member] | ||
Disclosure of financial assets [line items] | ||
Maturity | Daily | Daily |
Gross Unrealized Gains | € 0 | € 0 |
Gross Unrealized Losses | (137,000) | (106,000) |
Market Value | 44,581,000 | 86,538,000 |
Gross carrying amount [member] | Money market funds 1 [member] | ||
Disclosure of financial assets [line items] | ||
Cost | € 44,718,000 | € 86,644,000 |
Notes to the Assets of the Ba_6
Notes to the Assets of the Balance Sheet - Summary of Bonds, Available-For-Sale (Detail) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | ||
Cost | € 268,922,724 | € 0 |
Cost | € 0 | € 149,059,254 |
Term deposits, current portion [member] | ||
Disclosure of financial assets [line items] | ||
Maturity | 4 - 12 Months | |
Gross Unrealized Gains | € 2,000 | |
Gross Unrealized Losses | (744,000) | |
Cost | 218,978,000 | |
Maturity | 4 - 12 Months | |
Gross Unrealized Gains | € 59,000 | |
Gross Unrealized Losses | 0 | |
Cost | 149,059,000 | |
Term deposits, current portion [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Cost | € 219,720,000 | |
Cost | € 149,000,000 | |
Commercial papers [member] | ||
Disclosure of financial assets [line items] | ||
Maturity | 4 - 12 Months | |
Gross Unrealized Gains | € 0 | |
Gross Unrealized Losses | (55,000) | |
Cost | 49,945,000 | |
Commercial papers [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Cost | € 50,000,000 | |
Term deposits, net of current portion [member] | ||
Disclosure of financial assets [line items] | ||
Maturity | More than 12 Months | |
Gross Unrealized Gains | € 12,000 | |
Gross Unrealized Losses | (353,000) | |
Cost | 95,749,000 | |
Term deposits, net of current portion [member] | Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Cost | € 96,090,000 |
Notes to the Assets of the Ba_7
Notes to the Assets of the Balance Sheet - Summary of Property, Plant and Equipment (Detail) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | € 3,526,351 | € 4,189,000 | |
Impairment | 0 | 0 | € 0 |
Ending balance | 3,530,709 | 3,526,351 | 4,189,000 |
Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 19,836,000 | 19,047,000 | |
Additions | 1,821,000 | 1,317,000 | |
Disposals | (3,060,000) | (528,000) | |
Ending balance | 18,597,000 | 19,836,000 | 19,047,000 |
Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (16,310,000) | (14,858,000) | |
Depreciation Charge for the Year | 1,812,000 | 1,969,000 | |
Impairment | 0 | ||
Disposals | 3,056,000 | 517,000 | |
Ending balance | (15,066,000) | (16,310,000) | (14,858,000) |
Office equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,845,000 | 3,538,000 | |
Ending balance | 2,900,000 | 2,845,000 | 3,538,000 |
Office equipment [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 17,335,000 | 16,658,000 | |
Additions | 1,780,000 | 1,205,000 | |
Disposals | (1,457,000) | (528,000) | |
Ending balance | 17,658,000 | 17,335,000 | 16,658,000 |
Office equipment [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (14,490,000) | (13,120,000) | |
Depreciation Charge for the Year | 1,723,000 | 1,887,000 | |
Impairment | 0 | ||
Disposals | 1,455,000 | 517,000 | |
Ending balance | (14,758,000) | (14,490,000) | (13,120,000) |
Furniture and fixtures [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 681,000 | 651,000 | |
Ending balance | 631,000 | 681,000 | 651,000 |
Furniture and fixtures [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,501,000 | 2,389,000 | |
Additions | 41,000 | 112,000 | |
Disposals | (1,603,000) | 0 | |
Ending balance | 939,000 | 2,501,000 | 2,389,000 |
Furniture and fixtures [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (1,820,000) | (1,738,000) | |
Depreciation Charge for the Year | 89,000 | 82,000 | |
Impairment | 0 | ||
Disposals | 1,601,000 | 0 | |
Ending balance | € (308,000) | € (1,820,000) | € (1,738,000) |
Notes to the Assets of the Ba_8
Notes to the Assets of the Balance Sheet - Summary of Depreciation (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Depreciation Expense [line items] | |||
Depreciation | € 1,812 | € 1,969 | € 1,786 |
Research and development [member] | |||
Disclosure Of Depreciation Expense [line items] | |||
Depreciation | 1,398 | 1,672 | 1,518 |
Selling Expenses [member] | |||
Disclosure Of Depreciation Expense [line items] | |||
Depreciation | 87 | 0 | 0 |
General and administrative expense [member] | |||
Disclosure Of Depreciation Expense [line items] | |||
Depreciation | € 327 | € 297 | € 268 |
Notes to the Assets of the Ba_9
Notes to the Assets of the Balance Sheet - Summary of Intangible Assets (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | € 67,847 | € 67,939 | |
Amortization Charge for the Year | 21,127 | 11,925 | € 12,119 |
Ending balance | 47,365 | 67,847 | 67,939 |
Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 109,944 | 118,116 | |
Additions | 645 | 11,833 | |
Disposals | (264) | (20,005) | |
Ending balance | 110,325 | 109,944 | 118,116 |
Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (42,097) | (50,177) | |
Amortization Charge for the Year | 1,938 | 2,061 | |
Impairment | 19,189 | 9,864 | |
Disposals | 264 | 20,005 | |
Ending balance | (62,960) | (42,097) | (50,177) |
Patents 1 [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 4,669 | 5,323 | |
Ending balance | 3,939 | 4,669 | 5,323 |
Patents 1 [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 16,995 | 16,419 | |
Additions | 590 | 640 | |
Disposals | 0 | (64) | |
Ending balance | 17,585 | 16,995 | 16,419 |
Patents 1 [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (12,326) | (11,096) | |
Amortization Charge for the Year | 1,320 | 1,230 | |
Impairment | 0 | 64 | |
Disposals | 0 | 64 | |
Ending balance | (13,646) | (12,326) | (11,096) |
License rights [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 2,999 | 3,147 | |
Ending balance | 2,527 | 2,999 | 3,147 |
License rights [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 23,896 | 23,896 | |
Additions | 0 | 0 | |
Disposals | 0 | 0 | |
Ending balance | 23,896 | 23,896 | 23,896 |
License rights [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (20,897) | (20,749) | |
Amortization Charge for the Year | 112 | 148 | |
Impairment | 360 | 0 | |
Disposals | 0 | 0 | |
Ending balance | (21,369) | (20,897) | (20,749) |
In-process R&D programs [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 52,159 | 50,819 | |
Ending balance | 37,019 | 52,159 | 50,819 |
In-process R&D programs [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 52,159 | 60,960 | |
Additions | 0 | 11,140 | |
Disposals | 0 | (19,941) | |
Ending balance | 52,159 | 52,159 | 60,960 |
In-process R&D programs [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 0 | (10,141) | |
Amortization Charge for the Year | 0 | 0 | |
Impairment | 15,140 | 9,800 | |
Disposals | 0 | 19,941 | |
Ending balance | (15,140) | 0 | (10,141) |
Software [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 655 | 1,285 | |
Ending balance | 204 | 655 | 1,285 |
Software [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 5,853 | 5,800 | |
Additions | 55 | 53 | |
Disposals | (264) | 0 | |
Ending balance | 5,644 | 5,853 | 5,800 |
Software [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (5,198) | (4,515) | |
Amortization Charge for the Year | 506 | 683 | |
Impairment | 0 | 0 | |
Disposals | 264 | 0 | |
Ending balance | (5,440) | (5,198) | (4,515) |
Goodwill [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 7,365 | 7,365 | |
Ending balance | 3,676 | 7,365 | 7,365 |
Goodwill [member] | Gross carrying amount [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 11,041 | 11,041 | |
Additions | 0 | 0 | |
Disposals | 0 | 0 | |
Ending balance | 11,041 | 11,041 | 11,041 |
Goodwill [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (3,676) | (3,676) | |
Amortization Charge for the Year | 0 | 0 | |
Impairment | 3,689 | 0 | |
Disposals | 0 | 0 | |
Ending balance | € (7,365) | € (3,676) | € (3,676) |
Notes to the Assets of the B_10
Notes to the Assets of the Balance Sheet - Summary of Amortization of Intangible Assets (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of amortization of intangible assets [line items] | |||
Amortization of Intangible Assets | € 21,127 | € 11,925 | € 12,119 |
Research and development [member] | |||
Disclosure of amortization of intangible assets [line items] | |||
Amortization of Intangible Assets | 1,822 | 1,958 | 1,872 |
Intangible assets (Write-off) | 19,189 | 9,864 | 10,141 |
Selling Expenses [member] | |||
Disclosure of amortization of intangible assets [line items] | |||
Amortization of Intangible Assets | 25 | 0 | 0 |
General and administrative expense [member] | |||
Disclosure of amortization of intangible assets [line items] | |||
Amortization of Intangible Assets | € 91 | € 103 | € 106 |
Notes to the Assets of the B_11
Notes to the Assets of the Balance Sheet - Summary of Change in Investments (Detail) - EUR (€) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of shares in participation [abstract] | ||||
Beginning Balance | € 0 | |||
Additions | 359,000 | |||
Disposals | 0 | |||
Through Other Comprehensive Income | [1],[2] | (127,458) | € 0 | € 0 |
Through Profit Loss | 0 | |||
Ending Balance | € 232,000 | € 0 | ||
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. | |||
[2] | Item will not be reclassified in terms of IAS 1.82A(a)(i) to profit or loss in subsequent periods. |
Notes to the Assets of the B_12
Notes to the Assets of the Balance Sheet - Summary of Prepaid Expenses and Other Assets, Net of Current Portion (Detail) - EUR (€) | Dec. 31, 2018 | Dec. 31, 2017 |
Prepaid Expenses and Other Current Assets [abstract] | ||
Prepaid Expenses, Net of Current Portion | € 2,199,000 | € 2,546,000 |
Other Current Assets | 783,000 | 798,000 |
Total | € 2,981,716 | € 3,344,292 |
Notes to Equity and Liabiliti_3
Notes to Equity and Liabilities of the Balance Sheet - Additional Information (Detail) - EUR (€) | 12 Months Ended | ||||||||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | May 17, 2018 | Apr. 26, 2018 | Apr. 18, 2018 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Non-interest bearing payment terms | No more than 30 days | ||||||||||||
Tax provisions and other provisions | € 392,000 | € 1,524,000 | |||||||||||
Current portion of other liability | 832,000 | 3,586,000 | |||||||||||
Common stock, including treasury stock | 31,839,572 | € 29,420,785 | |||||||||||
Increase in common stock, including treasury stock | € 2,418,787 | ||||||||||||
Weighted average exercise price per share | € 31.88 | ||||||||||||
Exercise of Convertible Bonds Issued to Related Parties | € 32,537 | ||||||||||||
Number of convertible bonds exercised | 32,537 | ||||||||||||
Shares issued | 31,839,572 | 29,420,785 | |||||||||||
Capital increase | € 178,575,506 | € 112,593,220 | |||||||||||
Number of ordinary shares of conditional capital | 6,459,146 | 6,491,683 | |||||||||||
Description of conditional capital | The aggregate nominal amount of the conditional capital created for the purpose of granting subscription rights to employees and members of the management of our Company or of an affiliated company may not exceed 10% of the share capital existing at the time of the shareholders' meeting adopting such resolution. | ||||||||||||
Treasury shares repurchased | 0 | 0 | |||||||||||
Treasury stock | € 10,398,773 | € 11,826,981 | € 14,648,212 | € 15,827,946 | € 14,251,962 | € 6,418,018 | € 3,594,393 | € 1,756,841 | € 9,774 | ||||
Treasury stock shares | 281,036 | 319,678 | 396,010 | 434,670 | 450,890 | 339,890 | 255,415 | 163,915 | 79,896 | ||||
Decrease in treasury stock | € 1,428,208 | € 2,821,231 | € 3,361,697 | € 3,816,947 | |||||||||
Transfer of shares of treasury stock to the Management Board and Senior Management | 17,219 | ||||||||||||
Transfer of shares of treasury stock to the Management Board and Senior Management, amount | € 636,414 | ||||||||||||
Entitlement settled in treasury shares, value | € 2,100,000 | ||||||||||||
Entitlement settled in treasury shares, number of shares | 20,105 | ||||||||||||
Treasury shares transfered to related parties, value | € 48,713 | ||||||||||||
Treasury shares transfered to related parties, number of shares | 1,318 | ||||||||||||
Additional paid-in capital | € 619,908,453 | 438,557,856 | |||||||||||
Increase in additional paid-in capital | 181,350,597 | ||||||||||||
Increase in additional paid in capital from the exercise of convertible bonds | 1,004,580 | ||||||||||||
Increase in additional paid in capital from allocation of personnel expenses resulting from share-based payments | 5,584,969 | ||||||||||||
Revaluation Reserve | 0 | (105,483) | |||||||||||
Change in revaluation reserve | 105,483 | ||||||||||||
Change in Fair Value of Equity Instruments through Other Comprehensive Income | [1],[2] | (127,458) | 0 | 0 | |||||||||
Foreign Currency Translation Differences from Consolidation | [1],[3] | (83,432) | 0 | 0 | |||||||||
Consolidated Net Loss | [1] | (56,172,121) | (69,826,469) | (60,382,776) | |||||||||
Accumulated Deficit | (152,765,728) | (97,375,138) | |||||||||||
Additional paid-in capital [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Capital increase | 176,189,256 | 109,971,132 | |||||||||||
Change in Fair Value of Equity Instruments through Other Comprehensive Income | 0 | ||||||||||||
Foreign Currency Translation Differences from Consolidation | 0 | ||||||||||||
Consolidated Net Loss | 0 | € 0 | € 0 | ||||||||||
Performance share [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Decrease in treasury stock | 636,414 | ||||||||||||
Authorized Capital 2017-II [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Shares issued | 311,250 | 2,075,000 | |||||||||||
Capital increase | € 2,386,250 | ||||||||||||
Authorized shares capital cancelled | € 9,277,658 | ||||||||||||
Ordinary shares [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Authorized shares | 14,579,885 | 14,684,291 | |||||||||||
Authorized Capital 2018-I [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Authorized shares amount | € 11,768,314 | € 11,768,314 | |||||||||||
Bearer shares [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Authorized shares | 11,768,314 | ||||||||||||
IFRS9 [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Application of IFRS 9 and 15 | € (248,000) | ||||||||||||
IFRS9 [member] | Additional paid-in capital [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Application of IFRS 9 and 15 | 0 | ||||||||||||
IFRS 15 [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Application of IFRS 9 and 15 | 1,135,014 | ||||||||||||
IFRS 15 [member] | Additional paid-in capital [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Application of IFRS 9 and 15 | 0 | ||||||||||||
Management board [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Exercise of Convertible Bonds Issued to Related Parties | € 32,537 | ||||||||||||
Number of convertible bonds exercised | 32,537 | ||||||||||||
Related parties [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Decrease in treasury stock | € 763,076 | ||||||||||||
PwC GmbH [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Total fee paid to auditors | 1,274,165 | ||||||||||||
Audit fees | 468,803 | ||||||||||||
Audit related fees | 516,408 | ||||||||||||
Other fees for other services | 288,954 | ||||||||||||
Accrued expenses [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Accrued personnel expenses for payments to employees and management | 5,100,000 | € 5,000,000 | |||||||||||
Provisions for outstanding invoices | 2,800,000 | 2,600,000 | |||||||||||
External laboratory services | 26,200,000 | 26,300,000 | |||||||||||
License payments | 100,000 | 200,000 | |||||||||||
Audit fees and other audit-related costs | 500,000 | 200,000 | |||||||||||
Expenses for legal advice | 1,500,000 | € 2,100,000 | |||||||||||
Accounts payable and accrued liability1 [member] | |||||||||||||
Disclosure of equity and liabilities of balance sheet [line items] | |||||||||||||
Current portion of other liability | € 100,000 | ||||||||||||
[1] | In financial years 2017 and 2016, the statement of comprehensive income only comprised components which will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. | ||||||||||||
[2] | Item will not be reclassified in terms of IAS 1.82A(a)(i) to profit or loss in subsequent periods. | ||||||||||||
[3] | Item will be reclassified in terms of IAS 1.82A(a)(ii) to profit or loss in subsequent periods when specific conditions are met. |
Notes to Equity and Liabiliti_4
Notes to Equity and Liabilities of the Balance Sheet - Summary of Accounts Payable and Accrued Liabilities (Detail) - EUR (€) | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts payable and accrued liabilities [abstract] | ||
Trade Accounts Payable | € 7,215,127 | € 4,621,918 |
Licenses Payable | 184,000 | 196,000 |
Accruals | 36,530,000 | 36,408,000 |
Other Liabilities | 832,000 | 3,586,000 |
Total | € 44,761,000 | € 44,812,000 |
Notes to Equity and Liabiliti_5
Notes to Equity and Liabilities of the Balance Sheet - Summary of Development of Tax Provisions and Current and Non-current Other Provisions (Detail) € in Thousands | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
Disclosure of Provisions [line items] | |
Beginning balance | € 1,524 |
Additions | 773 |
Utilized | 1,264 |
Released | 641 |
Ending balance | 392 |
Tax Provisions [member] | |
Disclosure of Provisions [line items] | |
Beginning balance | 315 |
Additions | 0 |
Utilized | 72 |
Released | 35 |
Ending balance | 208 |
Other provisions [member] | |
Disclosure of Provisions [line items] | |
Beginning balance | 1,209 |
Additions | 773 |
Utilized | 1,192 |
Released | 606 |
Ending balance | € 184 |
Notes to Equity and Liabiliti_6
Notes to Equity and Liabilities of the Balance Sheet - Summary of Disaggregation of Revenue from Contract with Customers (Detail) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Balance as of December 31, 2017 | € 560,000 | € 2,905,000 |
Prepayments Received in the Fiscal Year | 2,386,000 | 18,386,000 |
Revenues Recognized in the Reporting Period that was included in the Contract Liability at the Beginning of the Period | (306,000) | 0 |
Revenues Recognized for Received Prepayments and Services Performed in the Fiscal Year | (1,688,000) | (19,596,000) |
Balance as of January 1, 2018 | 952,000 | 560,000 |
thereof short-term | 794,230 | 1,388,638 |
thereof long-term | 158,024 | 306,385 |
Previously stated [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Balance as of December 31, 2017 | 1,695,000 | 2,905,000 |
Balance as of January 1, 2018 | 1,695,000 | |
IFRS 15 [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Balance as of December 31, 2017 | € (1,135,000) | 0 |
Balance as of January 1, 2018 | € (1,135,000) |
Notes to Equity and Liabiliti_7
Notes to Equity and Liabilities of the Balance Sheet - Summary of Composition and Development of Treasury Stock (Detail) - EUR (€) | 12 Months Ended | ||||||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Disclosure of composition and development of treasury stock [abstract] | |||||||||
Purchase in | 52,295 | 88,670 | 111,000 | 84,475 | 91,500 | 84,019 | |||
Transfer in | (38,642) | (76,332) | (90,955) | (104,890) | |||||
As of | 281,036 | 319,678 | 396,010 | 434,670 | 450,890 | 339,890 | 255,415 | 163,915 | 79,896 |
Purchase in | € 2,181,963 | € 5,392,931 | € 7,833,944 | € 2,823,625 | € 1,837,552 | € 1,747,067 | |||
Transfer in | € (1,428,208) | € (2,821,231) | (3,361,697) | (3,816,947) | |||||
As of | € 10,398,773 | € 11,826,981 | € 14,648,212 | € 15,827,946 | € 14,251,962 | € 6,418,018 | € 3,594,393 | € 1,756,841 | € 9,774 |
Remuneration System for the M_3
Remuneration System for the Management Board and Employees of the Group - 2017 Stock Option Plan - Additional Information (Detail) | Apr. 01, 2017EUR (€)shares | Dec. 31, 2018EUR (€) | Dec. 31, 2018EUR (€)Beneficiaryshares | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share based compensation vesting period | 1 year | ||||
Fair value of stock options granted | € 102.95 | € 102.95 | |||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | ||
2017 stock option plan [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share based compensation grant date | Apr. 1, 2017 | ||||
Description of vesting requirements for share-based payment arrangement | The grant date was April 1, 2017 and the vesting period/performance period is four years. Each stock option grants up to two subscription rights to shares of the Company. The subscription rights vest each year by 25% within the four-year vesting period, provided that the performance criteria specified for the respective period have been 100% fulfilled. The number of subscription rights vested per year is calculated based on the key performance criteria of the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The performance criteria can be met annually up to a maximum of 200%. If the share price development falls short of the program’s performance parameters, the target achievement for that year is 0 %. | ||||
Share based compensation vesting period | 4 years | ||||
Number of share subscription rights granted | shares | 2 | ||||
Exercise price of share options granted | € 55.52 | ||||
Description of share based compensation exercise period | The exercise period is three years after the end of the four-year vesting period/performance period, which is March 31, 2024. | ||||
Number of stock options granted | 81,157 | ||||
Percentage of target achievement to stock options grant | 100.00% | ||||
Fair value of stock options granted | € 21.41 | ||||
Number of stock options forfeited | 8,398 | ||||
Number of beneficiaries left | Beneficiary | 7 | ||||
Assumption for beneficiaries that would leave in the vesting period | Beneficiary | 2 | ||||
Percentage of target expected to achieve to stock options grant | 125.00% | ||||
Performance period to issue total number of shares | 4 years | ||||
Increase in total number of shares to be issued | shares | 90,949 | ||||
Share based payment expense | € 436,154 | € 801,330 | |||
2017 stock option plan [member] | Management board [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of stock options granted | 40,319 | ||||
2017 stock option plan [member] | Senior management [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of stock options granted | 37,660 | ||||
2017 stock option plan [member] | Employees not in senior management group [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of stock options granted | 3,178 |
Remuneration System for the M_4
Remuneration System for the Management Board and Employees of the Group - 2018 Stock Option Plan - Additional Information (Detail) | Apr. 01, 2018EUR (€)shares | Dec. 31, 2018EUR (€) | Dec. 31, 2018EUR (€)Beneficiary | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Fair value of stock options granted | € 102.95 | € 102.95 | |||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | ||
Stock Option 1 [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of stock options granted | 29,312 | ||||
Number of stock options forfeited | 0 | ||||
Share based payment expense | € 925,635 | ||||
April 2018 stock option plan [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share based compensation grant date | Apr. 1, 2018 | ||||
Description of vesting requirements for share-based payment arrangement | The grant date was April 1, 2018 and the vesting period/performance period is four years. Each stock option grants up to two subscription rights to shares of the Company. The subscription rights vest each year by 25% within the four-year vesting period, provided that the performance criteria specified for the respective period have been 100% fulfilled. The number of subscription rights vested per year is calculated based on the key performance criteria of the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The program’s performance criteria can be met annually up to a maximum of 200%. If the share price development falls short of the performance parameters, the target achievement for that year is 0 % | ||||
Number of share subscription rights granted | shares | 2 | ||||
Exercise price of share options granted | € 81.04 | ||||
Description of share based compensation exercise period | The exercise period is three years after the end of the four-year vesting period/performance period, which is March 31, 2025. | ||||
Number of stock options granted | 67,778 | ||||
Percentage of target achievement to stock options grant | 100.00% | ||||
Fair value of stock options granted | € 30.43 | ||||
Number of stock options forfeited | 2,136 | ||||
Number of beneficiaries left | Beneficiary | 2 | ||||
Assumption for beneficiaries that would leave in the vesting period | Beneficiary | 4 | ||||
April 2018 stock option plan [member] | Management board [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of stock options granted | 29,312 | ||||
April 2018 stock option plan [member] | Senior management [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of stock options granted | 34,276 | ||||
April 2018 stock option plan [member] | Employees not in senior management group [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of stock options granted | 4,190 |
Remuneration System for the M_5
Remuneration System for the Management Board and Employees of the Group - 2017 Stock Option Plan - Summary of Parameters of Share Based Compensation Program (Detail) - EUR (€) | 1 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
2017 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Share Price on Grant Date in | € 55.07 | |
Strike Price in | € 55.52 | |
Expected Volatility of the MorphoSys share in | 37.49% | |
Performance Term of Program in Years | 4 years | |
Dividend Yield in | 0.00% | |
April 2018 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Share Price on Grant Date in | € 81.05 | |
Strike Price in | € 81.04 | |
Expected Volatility of the MorphoSys share in | 35.95% | |
Performance Term of Program in Years | 4 years | |
Dividend Yield in | 0.00% | |
NASDAQ Biotech index [member] | 2017 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Expected Volatility of the MorphoSys share in | 25.07% | |
NASDAQ Biotech index [member] | April 2018 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Expected Volatility of the MorphoSys share in | 25.10% | |
TecDAX index [member] | 2017 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Expected Volatility of the MorphoSys share in | 16.94% | |
TecDAX index [member] | April 2018 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Expected Volatility of the MorphoSys share in | 17.73% | |
Bottom of range [member] | 2017 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Dividend Yield in | 0.00% | |
Risk-free Interest Rate in | 0.03% | |
Bottom of range [member] | April 2018 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Dividend Yield in | 0.00% | |
Risk-free Interest Rate in | 0.02% | |
Top of range [member] | 2017 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Dividend Yield in | 0.00% | |
Risk-free Interest Rate in | 0.23% | |
Top of range [member] | April 2018 stock option plan [member] | ||
Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [line items] | ||
Dividend Yield in | 0.00% | |
Risk-free Interest Rate in | 0.15% |
Remuneration System for the M_6
Remuneration System for the Management Board and Employees of the Group - Convertible Bonds - 2013 Program - Additional Information (Detail) | Apr. 01, 2013EUR (€) | Dec. 31, 2018EUR (€)€ / shares | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2018Beneficiary€ / shares |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of convertible bonds vested | 143,033 | 175,570 | 327,439 | ||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | ||
Convertible bonds 2013 Program [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Nominal value of convertible bond granted | € 225,000 | ||||
Bearer bonds | € 449,999 | ||||
Description of exchange of convertible bonds | Each convertible bond can be exchanged for one of the Company's no-par-value bearer shares equal to the proportional amount of common stock, which currently stands at € 1. | ||||
Convertible bonds conversion price per share | € / shares | € 31.88 | € 31.88 | |||
Percentage of increase in share price | 120.00% | ||||
Number of convertible bonds forfeited | 0 | 0 | 13,414 | 13,414 | |
Number of convertible bonds vested | 32,537 | 261,015 | 0 | ||
Number of beneficiaries left | Beneficiary | 1 | ||||
Share based payment expense | € 0 | € 287,601 | € 40,375 |
Remuneration System for the M_7
Remuneration System for the Management Board and Employees of the Group - Convertible Bonds - 2013 Program - Summary of Development of Convertible Bond Plans for Group Employees (Detail) | 12 Months Ended | 57 Months Ended | ||
Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2018EUR (€) | |
Disclosure of share options share-based payment arrangement [line items] | ||||
Convertible Bonds, Exercised | (143,033) | (175,570) | (327,439) | |
Convertible bonds 2013 Program [member] | ||||
Disclosure of share options share-based payment arrangement [line items] | ||||
Convertible bonds, beginning balance | 175,570 | 436,585 | 449,999 | |
Convertible Bonds, Granted | 0 | 0 | 0 | |
Convertible Bonds, Exercised | (32,537) | (261,015) | 0 | |
Convertible Bonds, Forfeited | 0 | 0 | (13,414) | (13,414) |
Convertible Bonds, Expired | 0 | 0 | 0 | |
Convertible Bonds Outstanding Ending Balance | 143,033 | 175,570 | 436,585 | 143,033 |
Weighted Average Price, Outstanding Beginning Balance | € 31.88 | € 31.88 | € 31.88 | |
Weighted Average Price, Granted | 0 | 0 | 0 | |
Weighted Average Price, Exercised | 31.88 | 31.88 | 0 | |
Weighted Average Price, Forfeited | 0 | 0 | 31.88 | |
Weighted Average Price, Expired | 0 | 0 | 0 | |
Weighted Average Price, Outstanding Ending Balance | € 31.88 | € 31.88 | € 31.88 | € 31.88 |
Remuneration System for the M_8
Remuneration System for the Management Board and Employees of the Group - Convertible Bonds - 2013 Program - Summary of Weighted Average Exercise Price (Detail) - Convertible bonds 2013 Program [member] | Dec. 31, 2018EUR (€)yr | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) |
Disclosure of range of exercise prices of outstanding share options [line items] | ||||
Number Outstanding | 143,033 | 175,570 | 436,585 | 449,999 |
Remaining Contractual Life (in Years) | yr | 1.25 | |||
Weighted- average Exercise Price | € 31.88 | € 31.88 | € 31.88 | € 31.88 |
Number Exercisable | 143,033 | |||
Weighted- average Exercise Price | € 31.88 | € 31.88 | € 31.88 | € 31.88 |
Exercise price range 25.00 to 40.00 [member] | ||||
Disclosure of range of exercise prices of outstanding share options [line items] | ||||
Number Outstanding | 143,033 | |||
Remaining Contractual Life (in Years) | yr | 1.25 | |||
Weighted- average Exercise Price | € 31.88 | |||
Number Exercisable | 143,033 | |||
Weighted- average Exercise Price | € 31.88 |
Remuneration System for the M_9
Remuneration System for the Management Board and Employees of the Group - 2013 Long Term Incentive Plan - Additional Information (Detail) | Oct. 02, 2017 | Oct. 01, 2017EUR (€) | Apr. 01, 2017EUR (€) | Oct. 01, 2013 | Apr. 01, 2013 | Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | |||||
Share based compensation vesting period | 1 year | |||||||
Performance share [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 8,804 | |||||||
2013 long-term incentive plan [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Long term incentive program expiration date | Apr. 1, 2017 | |||||||
Description of performance criteria fulfillment percentage | These criteria are approved annually by the Supervisory Board. The fulfillment of these criteria was set at 200 % for one year, 54 % for one year and 0 % for two years. | |||||||
Share based payment expense | € 1,000,000 | € 0 | € 1,038,639 | € (23,571) | ||||
2013 long-term incentive plan [member] | Senior management [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Long term incentive program expiration date | Oct. 1, 2017 | |||||||
Description of performance criteria fulfillment percentage | The fulfillment of the performance criteria was set at 200 % for one year, 54.8 % for one year and 0 % for two years. | |||||||
Share based payment expense | € 20,000 | |||||||
Performance criteria fulfillment standards | 1.57 | |||||||
Performance criteria fulfillment standards before adjustment | 1 | |||||||
Share based compensation vesting period | 4 years | |||||||
2013 long-term incentive plan [member] | Performance share [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 61,323 | |||||||
Performance criteria fulfillment standards | 1.57 | |||||||
Performance criteria fulfillment standards before adjustment | 1 | |||||||
Share based compensation vesting period | 4 years | |||||||
2013 long-term incentive plan [member] | Performance share [member] | Management board [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 36,729 | |||||||
2013 long-term incentive plan [member] | Performance share [member] | Senior management [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 548 | 21,248 | ||||||
2013 long-term incentive plan [member] | Performance share [member] | Employees not in senior management group [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 3,346 | |||||||
2013 long-term incentive plan [member] | Performance Criteria One [member] | Senior management [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Performance criteria fulfillment percentage | 200.00% | |||||||
2013 long-term incentive plan [member] | Performance Criteria One [member] | Performance share [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Performance criteria fulfillment percentage | 200.00% | |||||||
2013 long-term incentive plan [member] | Performance Criteria Two [member] | Senior management [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Performance criteria fulfillment percentage | 54.80% | |||||||
2013 long-term incentive plan [member] | Performance Criteria Two [member] | Performance share [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Performance criteria fulfillment percentage | 54.00% | |||||||
2013 long-term incentive plan [member] | Performance Criteria Three [member] | Senior management [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Performance criteria fulfillment percentage | 0.00% | |||||||
2013 long-term incentive plan [member] | Performance Criteria Three [member] | Performance share [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Performance criteria fulfillment percentage | 0.00% |
Remuneration System for the _10
Remuneration System for the Management Board and Employees of the Group - 2014 Long Term Incentive Plan - Additional Information (Detail) | Apr. 01, 2014 | Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share based compensation vesting period | 1 year | |||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | |
2014 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Long term incentive program expiration date | Apr. 1, 2018 | |||
Description of performance criteria fulfillment percentage | These criteria are approved annually by the Supervisory Board. The fulfillment of these criteria was set at 200% for one year, 54% for one year and 0% for two years. | |||
Performance criteria fulfillment standards | 1 | |||
Number of shares granted | 17,219 | |||
Share based compensation vesting period | 4 years | |||
Performance Criteria One [member] | 2014 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Performance criteria fulfillment percentage | 200.00% | |||
Performance Criteria Two [member] | 2014 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Performance criteria fulfillment percentage | 54.00% | |||
Performance Criteria Three [member] | 2014 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Performance criteria fulfillment percentage | 0.00% | |||
Performance share [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares granted | 8,804 | |||
Performance share [member] | 2014 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share based payment expense | € 6,388 | € 55,759 | € 178,518 | |
Management board [member] | Performance share [member] | 2014 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares granted | 6,969 | |||
Senior management [member] | Performance share [member] | 2014 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares granted | 8,216 | |||
Former members of management board and senior management group [member] | Performance share [member] | 2014 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares granted | 2,034 |
Remuneration System for the _11
Remuneration System for the Management Board and Employees of the Group - 2015 Long Term Incentive Plan - Additional Information (Detail) | Apr. 01, 2015EUR (€)shares | Dec. 31, 2018EUR (€)Beneficiary | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share based compensation vesting period | 1 year | |||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | |
Performance share [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares granted | 8,804 | |||
Number of performance shares forfeited | 4,006 | |||
2015 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Share based compensation grant date | Apr. 1, 2015 | |||
Description of vesting requirements for share-based payment arrangement | Vesting/performance period is four years. If the predefined key performance criteria for the respective period are fully met, 25% of the performance shares become vested in each year of the four-year vesting period. The number of performance shares vested per year is calculated based on key performance criteria comprising the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The number of performance shares vested each year will be reduced or increased to the extent that the performance criteria of the respective year have been achieved between only 50% and 99.9% (<100%) or the achievement of the performance criteria has exceeded 100% (maximum 200%). If in one year the performance criteria are met by less than 50%, no performance shares will become vested in that year. | |||
Share based compensation vesting period | 4 years | |||
Percentage of performance shares vested | 25.00% | 25.00% | 25.00% | 25.00% |
Maximum pay-out Factor | 1 | |||
Description of share based compensation exercise period | Six-month | |||
2015 long-term incentive plan [member] | Performance share [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares granted | 40,425 | |||
Fair value of stock options granted | € 61.40 | |||
Dividend declared | € 0 | |||
Number of beneficiaries left | Beneficiary | 5 | |||
Number of performance shares forfeited | 3,093 | |||
Assumption for beneficiaries that would leave in the vesting period | Beneficiary | 1 | |||
Performance criteria fulfillment standards | 1 | |||
Percentage of target expected to achieve to allocate performance shares | 123.50% | |||
Performance period to issue total number of shares | 4 years | |||
Increase in total number of shares to be issued | shares | 44,599 | |||
Share based payment expense | € 109,511 | € 201,608 | € 837,153 | |
Management board [member] | 2015 long-term incentive plan [member] | Performance share [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares granted | 21,948 | |||
Senior management [member] | 2015 long-term incentive plan [member] | Performance share [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares granted | 18,477 | |||
Top of range [member] | 2015 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Percentage of increase in performance shares vested | 100.00% | |||
Performance criteria fulfillment percentage | 200.00% | |||
Pay-out factor for justified cases | 2 | |||
Conditional percentage of increase in number of shares vested | 200.00% | |||
Bottom of range [member] | 2015 long-term incentive plan [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Performance criteria fulfillment percentage | 0.00% | |||
Pay-out factor for justified cases | 0 |
Remuneration System for the _12
Remuneration System for the Management Board and Employees of the Group - 2016 Long Term Incentive Plan - Additional Information (Detail) | Apr. 01, 2016EUR (€)shares | Dec. 31, 2019 | Dec. 31, 2018EUR (€)Beneficiary | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share based compensation vesting period | 1 year | ||||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | ||
Performance share [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of shares granted | 8,804 | ||||
Number of performance shares forfeited | 4,006 | ||||
2016 long-term incentive plan [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share based compensation grant date | Apr. 1, 2016 | ||||
Description of vesting requirements for share-based payment arrangement | Vesting/performance period is four years. If the predefined key performance criteria for the respective period are fully met, 25% of the performance shares become vested in each year of the four-year vesting period. The number of performance shares vested per year is calculated based on key performance criteria comprising the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The number of performance shares vested each year will be reduced or increased to the extent that the performance criteria of the respective year have been achieved between only 50% and 99.9% (<100%) or the achievement of the performance criteria has exceeded 100% (maximum 200%). If in one year the performance criteria are met by less than 50%, no performance shares will become vested in that year. | ||||
Share based compensation vesting period | 4 years | ||||
Percentage of perfomance shares vested | 25.00% | 25.00% | 25.00% | ||
Maximum pay-out Factor | 1 | ||||
Description of share based compensation exercise period | Six-month | ||||
2016 long-term incentive plan [member] | Non adjusting event [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Percentage of perfomance shares vested | 25.00% | ||||
2016 long-term incentive plan [member] | Performance share [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of shares granted | 68,143 | ||||
Fair value of stock options granted | € 46.86 | ||||
Dividend declared | € 0 | ||||
Number of beneficiaries left | Beneficiary | 8 | ||||
Number of performance shares forfeited | 10,998 | ||||
Assumption for beneficiaries that would leave in the vesting period | Beneficiary | 1 | ||||
Performance criteria fulfillment standards | 1 | ||||
Percentage of target expected to achieve to allocate performance shares | 123.50% | ||||
Performance period to issue total number of shares | 4 years | ||||
Increase in total number of shares to be issued | shares | 68,595 | ||||
Share based payment expense | € 330,727 | € 663,624 | € 1,483,694 | ||
Management board [member] | 2016 long-term incentive plan [member] | Performance share [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of shares granted | 35,681 | ||||
Senior management [member] | 2016 long-term incentive plan [member] | Performance share [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Number of shares granted | 32,462 | ||||
Top of range [member] | 2016 long-term incentive plan [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Percentage of increase in performance shares vested | 100.00% | ||||
Performance criteria fulfillment percentage | 200.00% | ||||
Conditional percentage of increase in number of shares vested | 200.00% | ||||
Bottom of range [member] | 2016 long-term incentive plan [member] | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Performance criteria fulfillment percentage | 0.00% |
Remuneration System for the _13
Remuneration System for the Management Board and Employees of the Group - 2017 Long Term Incentive Plan - Additional Information (Detail) | Apr. 01, 2017EUR (€)shares | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018EUR (€)Beneficiary | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation vesting period | 1 year | |||||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | |||
Performance share [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares granted | 8,804 | |||||
Number of performance shares forfeited | 4,006 | |||||
2017 long-term incentive plan [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation grant date | Apr. 1, 2017 | |||||
Description of vesting requirements for share-based payment arrangement | Vesting/performance period is four years. If the predefined performance criteria for the respective period are fully met, 25% of the performance shares become vested in each year of the four-year vesting period. The number of performance shares vested per year is calculated based on key performance criteria comprising the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The performance criteria can be met annually up to a maximum of 300% and up to 200% for the entire four-year period. If the specified performance criteria are met by less than 0% in one year, no shares will be earned for that year (entitlement). | |||||
Share based compensation vesting period | 4 years | |||||
Percentage of perfomance shares vested | 25.00% | 25.00% | ||||
Maximum pay-out Factor | 1 | |||||
Description of share based compensation exercise period | Six-month | |||||
2017 long-term incentive plan [member] | Performance share [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares granted | 31,549 | |||||
Fair value of stock options granted | € 70.52 | |||||
Number of beneficiaries left | Beneficiary | 7 | |||||
Number of performance shares forfeited | 1,711 | |||||
Assumption for beneficiaries that would leave in the vesting period | Beneficiary | 2 | |||||
Number of performance shares allocated percentage | 100.00% | |||||
Performance criteria fulfillment standards | 1 | |||||
Percentage of target expected to achieve to allocate performance shares | 150.00% | |||||
Holding or performance period to issue total number of shares | 4 years | |||||
Increase in total number of shares to be issued | shares | 43,196 | |||||
Share based payment expense | € 558,446 | € 1,026,037 | ||||
Management board [member] | 2017 long-term incentive plan [member] | Performance share [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares granted | 15,675 | |||||
Senior management [member] | 2017 long-term incentive plan [member] | Performance share [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares granted | 14,640 | |||||
Employees [member] | 2017 long-term incentive plan [member] | Performance share [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Number of shares granted | 1,234 | |||||
Non adjusting event [member] | 2017 long-term incentive plan [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Percentage of perfomance shares vested | 25.00% | 25.00% | ||||
Bottom of range [member] | 2017 long-term incentive plan [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Pay-out factor for justified cases | 0 | |||||
Top of range [member] | 2017 long-term incentive plan [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Pay-out factor for justified cases | 2 | |||||
Conditional percentage of increase in number of shares vested | 200.00% |
Remuneration System for the _14
Remuneration System for the Management Board and Employees of the Group - 2018 Long Term Incentive Plan - Additional Information (Detail) | Apr. 01, 2018EUR (€) | Dec. 31, 2018Beneficiary | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Share based compensation vesting period | 1 year | |||||||
Share based payment expense | € 5,585,000 | € 4,975,000 | € 2,357,000 | |||||
Performance share [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 8,804 | |||||||
Number of performance shares forfeited | 4,006 | |||||||
2018 long-term incentive program [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Share based compensation grant date | Apr. 1, 2018 | |||||||
Description of vesting requirements for share-based payment arrangement | Vesting/performance period is four years. If the predefined performance criteria for the respective period are fully met, 25% of the performance shares become vested in each year of the four-year vesting period. The number of performance shares vested per year is calculated based on key performance criteria comprising the absolute MorphoSys share price performance and the relative MorphoSys share price performance compared to the Nasdaq Biotechnology Index and the TecDAX Index. The performance criteria can be met annually up to a maximum of 300% and up to 200% for the entire four-year period. If the specified performance criteria are met by less than 0% in one year, no shares will be earned for that year (entitlement). | |||||||
Share based compensation vesting period | 4 years | |||||||
Percentage of perfomance shares vested | 25.00% | |||||||
Maximum pay-out Factor | 1 | |||||||
Description of share based compensation exercise period | Six-month | |||||||
2018 long-term incentive program [member] | Performance share [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 20,357 | |||||||
Fair value of stock options granted | € 103.58 | |||||||
Number of beneficiaries left | Beneficiary | 2 | |||||||
Number of performance shares forfeited | 641 | |||||||
Assumption for beneficiaries that would leave in the vesting period | Beneficiary | 4 | |||||||
Number of performance shares allocated percentage | 100.00% | |||||||
Performance criteria fulfillment standards | 1 | |||||||
Share based payment expense | € 946,346 | |||||||
2018 long-term incentive program [member] | Performance share [member] | Management board [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 8,804 | |||||||
2018 long-term incentive program [member] | Performance share [member] | Employees [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 1,262 | |||||||
2018 long-term incentive program [member] | Performance share [member] | Senior management [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Number of shares granted | 10,291 | |||||||
Non adjusting event [member] | 2018 long-term incentive program [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Percentage of perfomance shares vested | 25.00% | 25.00% | 25.00% | |||||
Bottom of range [member] | 2018 long-term incentive program [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Pay-out factor for justified cases | 0 | |||||||
Top of range [member] | 2018 long-term incentive program [member] | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
Pay-out factor for justified cases | 2 | |||||||
Conditional percentage of increase in number of shares vested | 200.00% |
Remuneration System for the _15
Remuneration System for the Management Board and Employees of the Group - Summary of Expected Volatility Based on Development of Share Volatility of Last Four Years (Detail) | 12 Months Ended |
Dec. 31, 2018EUR (€) | |
2015 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Share Price on Grant Date in | € 57.18 |
Strike Price in | € 0 |
Expected Volatility of the MorphoSys share in | 33.09% |
Performance Term of Program in Years | 4 years |
Dividend Yield in | 0.00% |
Risk-free Interest Rate in | 0.07% |
2016 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Share Price on Grant Date in | € 43.28 |
Strike Price in | € 0 |
Expected Volatility of the MorphoSys share in | 34.637% |
Performance Term of Program in Years | 4 years |
Dividend Yield in | 0.00% |
Risk-free Interest Rate in | 0.05% |
2017 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Share Price on Grant Date in | € 55.07 |
Strike Price in | € 0 |
Expected Volatility of the MorphoSys share in | 37.49% |
Performance Term of Program in Years | 4 years |
Dividend Yield in | 0.00% |
2018 long-term incentive program [member] | |
Disclosure of share options and savings related options [line items] | |
Share Price on Grant Date in | € 81.05 |
Strike Price in | € 0 |
Expected Volatility of the MorphoSys share in | 35.95% |
Performance Term of Program in Years | 4 years |
Dividend Yield in | 0.00% |
Bottom of range [member] | 2017 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Strike Price in | € 0 |
Dividend Yield in | 0.00% |
Risk-free Interest Rate in | 0.03% |
Bottom of range [member] | 2018 long-term incentive program [member] | |
Disclosure of share options and savings related options [line items] | |
Strike Price in | € 0 |
Dividend Yield in | 0.00% |
Risk-free Interest Rate in | 0.02% |
Top of range [member] | 2017 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Strike Price in | € 0 |
Dividend Yield in | 0.00% |
Risk-free Interest Rate in | 0.23% |
Top of range [member] | 2018 long-term incentive program [member] | |
Disclosure of share options and savings related options [line items] | |
Strike Price in | € 0 |
Dividend Yield in | 0.00% |
Risk-free Interest Rate in | 0.15% |
NASDAQ Biotech index [member] | 2015 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Expected Volatility of the MorphoSys share in | 20.70% |
NASDAQ Biotech index [member] | 2016 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Expected Volatility of the MorphoSys share in | 23.39% |
NASDAQ Biotech index [member] | 2017 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Expected Volatility of the MorphoSys share in | 25.07% |
NASDAQ Biotech index [member] | 2018 long-term incentive program [member] | |
Disclosure of share options and savings related options [line items] | |
Expected Volatility of the MorphoSys share in | 25.10% |
TecDAX index [member] | 2015 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Expected Volatility of the MorphoSys share in | 20.10% |
TecDAX index [member] | 2016 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Expected Volatility of the MorphoSys share in | 17.01% |
TecDAX index [member] | 2017 long-term incentive plan [member] | |
Disclosure of share options and savings related options [line items] | |
Expected Volatility of the MorphoSys share in | 16.94% |
TecDAX index [member] | 2018 long-term incentive program [member] | |
Disclosure of share options and savings related options [line items] | |
Expected Volatility of the MorphoSys share in | 17.73% |
Remuneration System for the _16
Remuneration System for the Management Board and Employees of the Group - Initial Equity Grant - Additional Information (Detail) - 12 months ended Dec. 31, 2018 | USD ($)Employee | EUR (€)€ / shares |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | ||
Overall grant value of shares | $ | $ 370,000 | |
Average grant value of shares | € | € 102.95 | |
Maximum granted shares | 3,104 | |
Fair value as of grant date | € / shares | € 91.90 | |
Number of employees under initial equity grant | Employee | 1 | |
Share based compensation vesting period | 1 year | |
Exercise period share options granted | 30 days |
Remuneration System for the _17
Remuneration System for the Management Board and Employees of the Group - Summary of Shares, Stock Options, Convertible Bonds and Performance Shares Held by Members of Management Board and Supervisory Board (Detail) | 12 Months Ended | ||
Dec. 31, 2018USD ($)shares | Dec. 31, 2017shares | Dec. 31, 2016 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Allocations | 143,033 | 175,570 | 327,439 |
Stock Option 1 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options, beginning balance | 34,171 | ||
Additions | 29,312 | ||
Forfeitures | 0 | ||
Exercises | 0 | ||
12/31/2018 | 63,483 | 34,171 | |
Convertible bonds [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 148,923 | ||
Additions | 0 | ||
Forfeitures | 0 | ||
Allocations | 30,537 | ||
Convertible Bonds Outstanding Ending Balance | 118,386 | 148,923 | |
Performance share [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 59,320 | ||
Additions | 8,804 | ||
Forfeitures | 4,006 | ||
Allocations | 6,969 | ||
Convertible Bonds Outstanding Ending Balance | 57,149 | 59,320 | |
Dr Simon Moroney [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 483,709 | ||
Additions | $ 8,928 | ||
Sales | $ 8,928 | ||
Shares, ending balance | shares | 483,709 | 483,709 | |
Dr Simon Moroney [member] | Stock Option 1 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options, beginning balance | 12,511 | ||
Additions | 9,884 | ||
Forfeitures | 0 | ||
Exercises | 0 | ||
12/31/2018 | 22,395 | 12,511 | |
Dr Simon Moroney [member] | Convertible bonds [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 88,386 | ||
Additions | 0 | ||
Forfeitures | 0 | ||
Allocations | 0 | ||
Convertible Bonds Outstanding Ending Balance | 88,386 | 88,386 | |
Dr Simon Moroney [member] | Performance share [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 30,060 | ||
Additions | 2,969 | ||
Forfeitures | 2,182 | ||
Allocations | 3,797 | ||
Convertible Bonds Outstanding Ending Balance | 27,050 | 30,060 | |
Jens Holstein [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 11,000 | ||
Additions | $ 36,554 | ||
Sales | $ 30,537 | ||
Shares, ending balance | shares | 17,017 | 11,000 | |
Jens Holstein [member] | Stock Option 1 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options, beginning balance | 8,197 | ||
Additions | 6,476 | ||
Forfeitures | 0 | ||
Exercises | 0 | ||
12/31/2018 | 14,673 | 8,197 | |
Jens Holstein [member] | Convertible bonds [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 60,537 | ||
Additions | 0 | ||
Forfeitures | 0 | ||
Allocations | 30,537 | ||
Convertible Bonds Outstanding Ending Balance | 30,000 | 60,537 | |
Jens Holstein [member] | Performance share [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 20,086 | ||
Additions | 1,945 | ||
Forfeitures | 1,495 | ||
Allocations | 2,600 | ||
Convertible Bonds Outstanding Ending Balance | 17,936 | 20,086 | |
Dr Malte Peters [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 9,505 | ||
Additions | $ 3,313 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 12,818 | 9,505 | |
Dr Malte Peters [member] | Stock Option 1 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options, beginning balance | 8,197 | ||
Additions | 6,476 | ||
Forfeitures | 0 | ||
Exercises | 0 | ||
12/31/2018 | 14,673 | 8,197 | |
Dr Malte Peters [member] | Convertible bonds [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 0 | ||
Additions | 0 | ||
Forfeitures | 0 | ||
Allocations | 0 | ||
Convertible Bonds Outstanding Ending Balance | 0 | 0 | |
Dr Malte Peters [member] | Performance share [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 3,187 | ||
Additions | 1,945 | ||
Forfeitures | 0 | ||
Allocations | 0 | ||
Convertible Bonds Outstanding Ending Balance | 5,132 | 3,187 | |
Dr Markus Enzelberge [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 7,262 | ||
Additions | $ 3,248 | ||
Sales | $ 8,834 | ||
Shares, ending balance | shares | 1,676 | 7,262 | |
Management board [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 511,476 | ||
Additions | $ 52,043 | ||
Sales | $ 48,299 | ||
Shares, ending balance | shares | 515,220 | 511,476 | |
Dr. Marc Cluzel [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 500 | ||
Additions | $ 0 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 500 | 500 | |
Dr. Frank Morich [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 1,000 | ||
Additions | $ 0 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 1,000 | 1,000 | |
Krisja Vermeylen [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 350 | ||
Additions | $ 0 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 350 | 350 | |
Wendy Johnson [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 500 | ||
Additions | $ 0 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 500 | 500 | |
Dr George Golumbeski [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Additions | $ 0 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 0 | ||
Michael Brosnan [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Additions | $ 0 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 0 | ||
Dr. Gerald Moller [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 11,000 | ||
Additions | $ 900 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 11,000 | ||
Klaus Kuhn [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 0 | ||
Additions | $ 0 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 0 | ||
Supervisory board [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Shares, beginning balance | shares | 13,350 | ||
Additions | $ 900 | ||
Sales | $ 0 | ||
Shares, ending balance | shares | 2,350 | 13,350 | |
Dr Markus Enzelberger [member] | Stock Option 1 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Stock options, beginning balance | 5,266 | ||
Additions | 6,476 | ||
Forfeitures | 0 | ||
Exercises | 0 | ||
12/31/2018 | 11,742 | 5,266 | |
Dr Markus Enzelberger [member] | Convertible bonds [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 0 | ||
Additions | 0 | ||
Forfeitures | 0 | ||
Allocations | 0 | ||
Convertible Bonds Outstanding Ending Balance | 0 | 0 | |
Dr Markus Enzelberger [member] | Performance share [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Convertible bonds, beginning balance | 5,987 | ||
Additions | 1,945 | ||
Forfeitures | 329 | ||
Allocations | 572 | ||
Convertible Bonds Outstanding Ending Balance | 7,031 | 5,987 |
Remuneration System for the _18
Remuneration System for the Management Board and Employees of the Group - Summary of Shares, Stock Options, Convertible Bonds and Performance Shares Held by Members of Management Board and Supervisory Board (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Forfeited performance Shares result of achievement rate | 63.50% |
Actual performance shares result of achievement rate | 1.00% |
Remuneration System for the _19
Remuneration System for the Management Board and Employees of the Group - Related Parties - Additional Information (Detail) | Apr. 01, 2018 | Dec. 31, 2018EUR (€)shares | Dec. 31, 2017EUR (€) | May 31, 2018EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | Dec. 31, 2014EUR (€) | Dec. 31, 2013EUR (€) | Dec. 31, 2012EUR (€) | Dec. 31, 2011EUR (€) | Dec. 31, 2010EUR (€) |
Disclosure of transactions between related parties [line items] | |||||||||||
Value of shares exercised | € 1,500,000 | ||||||||||
Proportion of voting rights held | 30.00% | ||||||||||
Percentage of annual gross fixed salary and annual bonus | 200.00% | ||||||||||
Total remuneration | € 6,728,814 | € 6,456,015 | |||||||||
Treasury shares | 10,398,773 | 11,826,981 | € 14,648,212 | € 15,827,946 | € 14,251,962 | € 6,418,018 | € 3,594,393 | € 1,756,841 | € 9,774 | ||
Supervisory board [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Total remuneration | € 525,428 | € 523,015 | |||||||||
Senior management [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Number of share transferred | shares | 4,685 | ||||||||||
Treasury shares | € 500,000 | ||||||||||
Dr. Moroney [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Value of shares exercised | € 483,597 | ||||||||||
Number of shares allocated to senior management group | 5,131 | ||||||||||
Mr. Holstein [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Value of shares exercised | € 358,785 | ||||||||||
Number of shares allocated to senior management group | 3,417 | ||||||||||
Dr. Peters [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Value of shares exercised | € 354,822 | ||||||||||
Number of shares allocated to senior management group | 3,313 | ||||||||||
Dr. Enzelberger [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Value of shares exercised | € 285,600 | ||||||||||
Number of shares allocated to senior management group | 2,676 | ||||||||||
Stock option plan [member] | Senior management [member] | Stock options [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Number of stock options granted | 72,604 | 35,978 | |||||||||
Convertible bond plan [member] | Senior management [member] | Convertible bonds [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Number of stock options granted | 11,233 | 13,233 | |||||||||
Performance share plan [member] | Senior management [member] | Performance share [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Number of stock options granted | 83,660 | 67,149 | |||||||||
2014 long-term incentive plan [member] | Senior management [member] | |||||||||||
Disclosure of transactions between related parties [line items] | |||||||||||
Number of shares allocated to senior management group | 9,360 | 9,360 |
Remuneration System for the _20
Remuneration System for the Management Board and Employees of the Group - Summary of Management Board Remuneration (Detail) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | € 3,201,876 | € 3,841,505 |
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 414,726 | 445,890 |
Total Share-Based Payment (IAS 24.17 (e)) | 3,112,212 | 2,168,620 |
Total Compensation | 6,728,814 | 6,456,015 |
Fixed compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 1,663,409 | 1,685,429 |
Fringe benefits [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 141,203 | 1,094,207 |
One -year variable compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 1,397,264 | 1,061,869 |
Service cost [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 414,726 | 445,890 |
One time bonus award in shares [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 1,484,023 | 0 |
2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 197,623 |
2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 2,446 | 11,188 |
2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 44,914 | 81,178 |
2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 143,067 | 319,822 |
2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 346,545 | 528,213 |
2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 414,825 | 0 |
2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 270,633 | 412,492 |
April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 405,759 | |
2012 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 618,104 |
Dr Simon Moroney [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 1,030,071 | 904,932 |
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 158,788 | 149,567 |
Total Share-Based Payment (IAS 24.17 (e)) | 1,061,195 | 814,259 |
Total Compensation | 2,250,054 | 1,868,758 |
Dr Simon Moroney [member] | Fixed compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 542,074 | 500,876 |
Dr Simon Moroney [member] | Fringe benefits [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 32,654 | 35,912 |
Dr Simon Moroney [member] | One -year variable compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 455,343 | 368,144 |
Dr Simon Moroney [member] | Service cost [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 158,788 | 149,567 |
Dr Simon Moroney [member] | One time bonus award in shares [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 483,616 | 0 |
Dr Simon Moroney [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 58,224 |
Dr Simon Moroney [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 202,349 |
Dr Simon Moroney [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 1,452 | 22,460 |
Dr Simon Moroney [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 26,657 | 67,635 |
Dr Simon Moroney [member] | 2016 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 86,435 | 171,688 |
Dr Simon Moroney [member] | 2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 104,449 | 163,906 |
Dr Simon Moroney [member] | 2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 140,040 | 0 |
Dr Simon Moroney [member] | 2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 81,566 | 127,997 |
Dr Simon Moroney [member] | April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 136,980 | 0 |
Jens Holstein [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 786,837 | 689,456 |
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 111,233 | 99,949 |
Total Share-Based Payment (IAS 24.17 (e)) | 737,806 | 563,670 |
Total Compensation | 1,635,876 | 1,353,075 |
Jens Holstein [member] | Fixed compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 402,235 | 372,652 |
Jens Holstein [member] | Fringe benefits [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 46,725 | 42,905 |
Jens Holstein [member] | One -year variable compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 337,877 | 273,899 |
Jens Holstein [member] | Service cost [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 111,233 | 99,949 |
Jens Holstein [member] | One time bonus award in shares [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 358,857 | 0 |
Jens Holstein [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 59,641 |
Jens Holstein [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 138,585 |
Jens Holstein [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 994 | 15,383 |
Jens Holstein [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 18,257 | 46,324 |
Jens Holstein [member] | 2016 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 56,632 | 112,481 |
Jens Holstein [member] | 2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 68,437 | 107,395 |
Jens Holstein [member] | 2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 91,595 | 0 |
Jens Holstein [member] | 2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 53,441 | 83,861 |
Jens Holstein [member] | April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 89,593 | 0 |
Dr Malte Peters [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 762,565 | 1,057,047 |
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 76,190 | 60,967 |
Total Share-Based Payment (IAS 24.17 (e)) | 657,966 | 191,256 |
Total Compensation | 1,496,721 | 1,309,270 |
Dr Malte Peters [member] | Fixed compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 397,800 | 281,500 |
Dr Malte Peters [member] | Fringe benefits [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 30,613 | 568,644 |
Dr Malte Peters [member] | One -year variable compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 334,152 | 206,903 |
Dr Malte Peters [member] | Service cost [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 76,190 | 60,967 |
Dr Malte Peters [member] | One time bonus award in shares [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 354,900 | |
Dr Malte Peters [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Malte Peters [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Malte Peters [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Malte Peters [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Malte Peters [member] | 2016 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Malte Peters [member] | 2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 68,437 | 107,395 |
Dr Malte Peters [member] | 2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 91,595 | 0 |
Dr Malte Peters [member] | 2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 53,441 | 83,861 |
Dr Malte Peters [member] | April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 89,593 | 0 |
Dr Markus Enzelberger [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 622,403 | 743,544 |
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 68,515 | 29,186 |
Total Share-Based Payment (IAS 24.17 (e)) | 655,245 | 122,854 |
Total Compensation | 1,346,163 | 895,584 |
Dr Markus Enzelberger [member] | Fixed compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 321,300 | 204,698 |
Dr Markus Enzelberger [member] | Fringe benefits [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 31,211 | 417,158 |
Dr Markus Enzelberger [member] | One -year variable compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 269,892 | 121,688 |
Dr Markus Enzelberger [member] | Service cost [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 68,515 | 29,186 |
Dr Markus Enzelberger [member] | One time bonus award in shares [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 286,650 | |
Dr Markus Enzelberger [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Markus Enzelberger [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Markus Enzelberger [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Markus Enzelberger [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | 0 |
Dr Markus Enzelberger [member] | 2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 105,222 | 68,979 |
Dr Markus Enzelberger [member] | 2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 91,595 | 0 |
Dr Markus Enzelberger [member] | 2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 82,185 | 53,875 |
Dr Markus Enzelberger [member] | April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 89,593 | 0 |
Dr Markus Enzelberger [member] | 2012 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | € 0 | 0 |
Dr. Marlies Sproll [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 310,622 | |
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 77,976 | |
Total Share-Based Payment (IAS 24.17 (e)) | 496,088 | |
Total Compensation | 884,686 | |
Dr. Marlies Sproll [member] | Fixed compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 222,450 | |
Dr. Marlies Sproll [member] | Fringe benefits [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 20,427 | |
Dr. Marlies Sproll [member] | One -year variable compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 67,745 | |
Dr. Marlies Sproll [member] | Service cost [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 77,976 | |
Dr. Marlies Sproll [member] | One time bonus award in shares [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | |
Dr. Marlies Sproll [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 39,879 | |
Dr. Marlies Sproll [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 15,383 | |
Dr. Marlies Sproll [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 46,324 | |
Dr. Marlies Sproll [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 112,481 | |
Dr. Marlies Sproll [member] | 2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 80,538 | |
Dr. Marlies Sproll [member] | 2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | |
Dr. Marlies Sproll [member] | 2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 62,898 | |
Dr. Marlies Sproll [member] | April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | |
Dr. Marlies Sproll [member] | 2012 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 138,585 | |
Dr Arndt Schottelius [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 135,904 | |
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 28,245 | |
Total Share-Based Payment (IAS 24.17 (e)) | (19,507) | |
Total Compensation | 144,642 | |
Dr Arndt Schottelius [member] | Fixed compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 103,253 | |
Dr Arndt Schottelius [member] | Fringe benefits [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 9,161 | |
Dr Arndt Schottelius [member] | One -year variable compensation [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Short-Term Employee Benefits (IAS 24.17 (a)) | 23,490 | |
Dr Arndt Schottelius [member] | Service cost [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Benefit Expenses - Post-Employment Benefits (IAS 24.17 (b)) | 28,245 | |
Dr Arndt Schottelius [member] | One time bonus award in shares [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 0 | |
Dr Arndt Schottelius [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | 39,879 | |
Dr Arndt Schottelius [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | (42,038) | |
Dr Arndt Schottelius [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | (79,105) | |
Dr Arndt Schottelius [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | (76,828) | |
Dr Arndt Schottelius [member] | 2012 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Total Share-Based Payment (IAS 24.17 (e)) | € 138,585 |
Remuneration System for the _21
Remuneration System for the Management Board and Employees of the Group - Summary of Management Board Remuneration (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Dr Simon Moroney [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Simon Moroney [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Simon Moroney [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Simon Moroney [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Simon Moroney [member] | 2016 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Simon Moroney [member] | 2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Simon Moroney [member] | 2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Simon Moroney [member] | 2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Simon Moroney [member] | April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | 2016 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | 2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | 2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | 2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Jens Holstein [member] | April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | 2013 convertible bonds program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | 2013 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | 2014 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | 2015 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | 2016 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | 2017 long-term incentive plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | 2018 long-term incentive program [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | 2017 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Dr Malte Peters [member] | April 2018 stock option plan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Vesting Period | 4 years | 4 years |
Remuneration System for the _22
Remuneration System for the Management Board and Employees of the Group - Related Parties - Summary of Supervisory Board Remuneration (Detail) - EUR (€) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | € 6,728,814 | € 6,456,015 |
Dr. Marc Cluzel [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 109,142 | 78,960 |
Dr. Frank Morich [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 84,204 | 80,440 |
Krisja Vermeylen [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 74,316 | 44,961 |
Wendy Johnson [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 83,560 | 84,160 |
Dr George Golumbeski [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 54,161 | |
Michael Brosnan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 47,561 | |
Dr. Gerald Moller [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 48,358 | 131,956 |
Klaus Kuhn [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 24,126 | 68,160 |
Karin Eastham [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 34,378 | |
Supervisory board [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 525,428 | 523,015 |
Fixed compensation [member] | Dr. Marc Cluzel [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 76,742 | 52,160 |
Fixed compensation [member] | Dr. Frank Morich [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 61,004 | 57,240 |
Fixed compensation [member] | Krisja Vermeylen [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 49,916 | 28,961 |
Fixed compensation [member] | Wendy Johnson [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 46,160 | 46,160 |
Fixed compensation [member] | Dr George Golumbeski [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 28,961 | |
Fixed compensation [member] | Michael Brosnan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 28,961 | |
Fixed compensation [member] | Dr. Gerald Moller [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 36,558 | 95,156 |
Fixed compensation [member] | Klaus Kuhn [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 17,326 | 46,160 |
Fixed compensation [member] | Karin Eastham [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 19,578 | |
Fixed compensation [member] | Supervisory board [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 345,628 | 345,415 |
Attendance fee [member] | Dr. Marc Cluzel [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 32,400 | 26,800 |
Attendance fee [member] | Dr. Frank Morich [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 23,200 | 23,200 |
Attendance fee [member] | Krisja Vermeylen [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 24,400 | 16,000 |
Attendance fee [member] | Wendy Johnson [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 37,400 | 38,000 |
Attendance fee [member] | Dr George Golumbeski [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 25,200 | |
Attendance fee [member] | Michael Brosnan [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 18,600 | |
Attendance fee [member] | Dr. Gerald Moller [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 11,800 | 36,800 |
Attendance fee [member] | Klaus Kuhn [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 6,800 | 22,000 |
Attendance fee [member] | Karin Eastham [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | 14,800 | |
Attendance fee [member] | Supervisory board [member] | ||
Disclosure of key management personnel compensation [line items] | ||
Key management personnel compensation | € 179,800 | € 177,600 |
Additional Notes - Additional I
Additional Notes - Additional Information (Detail) € in Millions, $ in Millions | Jul. 19, 2018EUR (€) | Jul. 19, 2018USD ($) | Jun. 30, 2013EUR (€) | Jun. 30, 2010EUR (€) | Jun. 30, 2010USD ($) | Dec. 31, 2018EUR (€) | Dec. 31, 2018USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017USD ($) |
Disclosure of research and development agreements [line items] | |||||||||
Minimum rental period | 10 years | 10 years | |||||||
License agreement [member] | Glaxo Smith Kline [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
License agreement upfront payment received | € | € 22.5 | ||||||||
License agreement [member] | I- Mab biopharma [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
License agreement upfront payment received | $ | $ 3.5 | $ 20 | |||||||
Upfront payment recognized as revenue | € 3.1 | $ 3.5 | |||||||
License agreement [member] | Xencor [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Upfront payment | € 10.5 | $ 13 | |||||||
License agreement [member] | Novartis Pharma AG [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
License agreement upfront payment received | € | € 95 | ||||||||
Upfront payment recognized as revenue | € | € 47.5 | ||||||||
Percentage of upfront payment received recognized as revenue | 50.00% | 50.00% | |||||||
Top of range [member] | License agreement [member] | Glaxo Smith Kline [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Milestone payment receivable upon a success-based clinical and commercial milestone | € | € 423 | ||||||||
Top of range [member] | License agreement [member] | I- Mab biopharma [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Milestone payments | $ | $ 101.5 | ||||||||
Milestone payment receivable upon a success-based clinical and commercial milestone | $ | $ 100 | ||||||||
Top of range [member] | License agreement [member] | Novartis Pharma AG [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Milestone payments | $ | $ 1,000 | ||||||||
Percentage of tiered royalties on net sales | 20.00% | 20.00% | |||||||
Bottom of range [member] | License agreement [member] | Novartis Pharma AG [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Percentage of tiered royalties on net sales | 10.00% | 10.00% | |||||||
Investigational new drug [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Milestone payment to licensors, due year two | $ | 12.5 | ||||||||
Investigational new drug [member] | Top of range [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Milestone payments to licensors, due year two | $ | $ 287 | ||||||||
Operating leases [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Lease expenses | € | € 3.2 | € 2.6 | |||||||
Operating leases [member] | Lease on cars and machinery [member] | |||||||||
Disclosure of research and development agreements [line items] | |||||||||
Lease expenses | € | € 0.2 | € 0.2 |
Additional Notes - Summary of F
Additional Notes - Summary of Future Minimum Payments Under Non-terminable Operating Leases, Insurance Contracts and Other Services (Detail) € in Thousands | Dec. 31, 2018EUR (€) |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | € 24,107 |
Not later than one year [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 4,512 |
Later than one year and not later than five years [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 11,091 |
Later than five years [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 8,504 |
Rent and leasing [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 22,530 |
Rent and leasing [member] | Not later than one year [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 2,935 |
Rent and leasing [member] | Later than one year and not later than five years [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 11,091 |
Rent and leasing [member] | Later than five years [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 8,504 |
Other operating lease [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 1,577 |
Other operating lease [member] | Not later than one year [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 1,577 |
Other operating lease [member] | Later than one year and not later than five years [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | 0 |
Other operating lease [member] | Later than five years [member] | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Minimum lease payments payable under Noncancellable operating lease | € 0 |
Additional Notes - Summary of_2
Additional Notes - Summary of Future Minimum Payments Due for Outsourced Studies (Detail) € in Millions | Dec. 31, 2018EUR (€) |
Disclosure Of Future Payments Commitments For Clinical Studies [line items] | |
Future payment commitments for clinical studies | € 97 |
Not later than one year [member] | |
Disclosure Of Future Payments Commitments For Clinical Studies [line items] | |
Future payment commitments for clinical studies | 51.4 |
Later than one year and not later than five years [member] | |
Disclosure Of Future Payments Commitments For Clinical Studies [line items] | |
Future payment commitments for clinical studies | 45.6 |
Later than five years [member] | |
Disclosure Of Future Payments Commitments For Clinical Studies [line items] | |
Future payment commitments for clinical studies | € 0 |