Galapagos NV

GLPG

Equity

ISIN US36315X1019 / Valor 3542077

NASDAQ (2024-09-17)

USD 30.56-0.36%

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

Revenue Growth

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 and general and administrative (G&A) costs.

Net Profit

Galapagos NV achieved a net profit of €90.2 million for the first quarter of 2024, a substantial rise from the €23.2 million net profit recorded in the same quarter of the previous year. This increase was bolstered by a net profit from discontinued operations amounting to €66.7 million.

R&D Expenses

R&D expenses for the first quarter of 2024 were €71.6 million, up from €52.5 million in Q1 2023. The increase was primarily attributed to higher costs associated with CAR-T and small molecule programs in oncology.

Cash Position

As of 31 March 2024, Galapagos NV's cash, cash equivalents, and current financial investments totaled €3,557.9 million. This represents a decrease from €4,005.5 million at the end of December 2023, reflecting the company's ongoing investments and operational expenditures.

Summarized from source with an LLMView Source

Key figures

-15.7%1Y

-45.1%3Y

-80.8%5Y

Performance

24.6%1Y

32.5%3Y

41.1%5Y

Volatility