Why Shares of MorphoSys Are Up Wednesday
Shares of MorphoSys (NASDAQ: MOR) were up more than 16% Wednesday afternoon after the biopharmaceutical company updated the trials status of the company's lead therapy. MorphoSys announced that its phase 3 combination study of pelabresib with ruxolitinib to treat myelofibrosis had completed its enrollment earlier than expected. Myelofibrosis is a blood cancer where there's a buildup of scar tissue in the bone marrow and can cause anemia and spleen enlargement.