Galapagos NV

GLPG

Equity

ISIN BE0003818359 / Valor 2130343

Euronext - Euronext Amsterdam (2024-11-25)

EUR 26.06+2.68%

Galapagos NV
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About company

Galapagos NV is a company focused on accelerating transformational innovation through groundbreaking science, an entrepreneurial spirit, and a collaborative mindset. In 2022, the company expanded into the field of oncology, CAR-T, and antibody therapy research and development through the acquisitions of CellPoint and AboundBio. These acquisitions have equipped Galapagos NV with end-to-end CAR-T development capabilities, including a decentralized point-of-care manufacturing model and state-of-the-art fully human antibody-based capabilities for the development of next-generation CAR-Ts and biologics.

Summarized from source with an LLMView SourceSector: Healthcare

Total Net Revenues

Galapagos NV reported total net revenues of €62.4 million for the first quarter of 2024, reflecting a 7% increase compared to €58.6 million in the same period of 2023. This growth was primarily driven by the revenue recognition related to the exclusive access rights granted to Gilead for the company's drug discovery platform.

Operating Loss

The company experienced an operating loss of €33.1 million in Q1 2024, a significant increase from the €14.2 million operating loss reported in Q1 2023. This was largely due to higher research and development (R&D) expenses, which rose to €71.6 million from €52.5 million in the previous year.

Net Profit from Continuing Operations

Galapagos NV achieved a net profit from continuing operations of €23.5 million in the first quarter of 2024, a notable improvement from the net loss of €11.2 million recorded in the same quarter of 2023. This turnaround was supported by substantial net financial income and favorable fair value adjustments and net currency exchange gains.

Discontinued Operations

Net profit from discontinued operations, primarily related to the Jyseleca® business, amounted to €66.7 million in Q1 2024, compared to €34.4 million in Q1 2023. The sale of the Jyseleca® business to Alfasigma on 31 January 2024 significantly impacted these results, leading to the full recognition of remaining deferred income related to filgotinib.

Cash and Financial Investments

As of 31 March 2024, Galapagos NV's cash, cash equivalents, and current financial investments totaled €3,557.9 million, down from €4,005.5 million at the end of December 2023. The net decrease of €126.6 million during the first three months of 2024 was primarily due to operational expenses and strategic investments.

Summarized from source with an LLMView Source

Key figures

-23.5%1Y

-40.6%3Y

-84.9%5Y

Performance

27.5%1Y

32.7%3Y

41.3%5Y

Volatility