Mechelen, Belgium; February 17, 2025, 22:01 CET; regulated information – Galapagos NV ((Euronext &amp, NASDAQ:GLPG) received a transparency notification and 13D filing from Tang Capital.  Pursuant to Belgian transparency legislation1, Galapagos received a transparency notification on February 14, 2025 on behalf of Mr. Kevin Tang, Tang Capital Management, LLC ("TCM"), Tang Capital Partners, LP ("TCP"), Tang Capital Partners International, LP ("TCPI"), and Tang Capital Partners III, Inc. ("TCP III"), who noti ...

Financial Data and Key Metrics Changes - Total revenues for 2024 were €276 million, including €35 million from supply revenues related to Jyseleca and €241 million from collaboration revenues [40] - Research and development expenses increased by 39% year-over-year to €335 million, driven by the expansion of oncology CAR-T programs [40] - The company reported a net profit of €74 million, influenced by €185 million from fair value adjustments, currency exchange, and interest income, along with a €53 million gain from the sale of the Jyseleca business [41] - Cash burn for 2024 was €374 million, with a normalized cash burn projected to be between €175 million and €225 million post-separation [42] Business Line Data and Key Metrics Changes - The flagship CD19 CAR-T program, GLPG5101, is prioritized for clinical development, with plans to expand into additional aggressive lymphomas [22][30] - The company is deprioritizing GLPG5201 to streamline operations and focus on GLPG5101, which has shown compelling efficacy and safety data [52][70] - The small molecule program, particularly the TYK2 inhibitor GLPG3667, is advancing with a Phase II program expected to yield results in the first half of 2026 [31][32] Market Data and Key Metrics Changes - The company is expanding its decentralized manufacturing network in the U.S. and Europe to improve access to therapies and reduce logistical constraints [18][20] - Partnerships with leading cancer centers in Boston are being established to support the ATALANTA clinical trial [17][85] Company Strategy and Development Direction - The company plans to separate into two publicly traded entities: Galapagos focusing on oncology and SpinCo focusing on building a pipeline of innovative medicines [11][12] - The strategy includes leveraging a decentralized manufacturing platform to enhance the delivery of cell therapies and improve patient access [16][21] - The company aims to initiate pivotal studies for GLPG5101 in 2026, targeting first approval in 2028 [43][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of GLPG5101 based on strong clinical data and the need for innovative therapies in oncology [30][86] - The company is optimistic about the upcoming year, anticipating several value-driving milestones and continued progress in clinical programs [47][121] Other Important Information - The company completed the transfer of the Jyseleca business to Alfasigma, resulting in significant cost savings and ongoing royalty eligibility [11] - The decentralized manufacturing model is designed to provide fresh cells with a seven-day vein-to-vein time, enhancing therapeutic efficacy [20][134] Q&A Session Summary Question: Differences between GLPG5101 and GLPG5201 - Management clarified that both programs have shown excellent efficacy and safety, but the decision to deprioritize GLPG5201 was made to simplify operations and focus on accelerating GLPG5101's development [52][70] Question: Update on SpinCo's separation - The management team is in the process of hiring executives and completing legal steps for the separation, with a shareholder meeting planned for midyear [61][62] Question: Progress on GLPG5301 - Management indicated that the decision to advance GLPG5301 will depend on its competitive positioning in the market and ongoing data from the PAPILIO study [110] Question: Manufacturing footprint for GLPG5101 - The company is establishing a decentralized manufacturing structure with validated sites to ensure efficient delivery of therapies [87][91] Question: Interest from external partners for manufacturing - There has been inbound interest from external partners regarding the decentralized manufacturing platform, with ongoing discussions for potential collaborations [97][102]

Transforming Patient Outcomes Through Life-changing Science and Innovation Full Year 2024 Results and Recent Business Update Earnings Call, February 13, 2025 Disclaimer This presentation contains "forward looking statements", all of which involve certain risks and uncertainties. These statements are often, but are not always, made through the use of words or phrases such as "vision," " progress," "believe," "anticipate," "plan," "continue," "forward," "goal," "should," "expect," "outlook," "estimate," "next ...

Core Insights - Galapagos NV is advancing its GLPG5101 program, a CD19 CAR-T therapy, targeting eight aggressive B-cell malignancies with a goal for first approval by 2028 [1][4] - The company plans to separate into two publicly traded entities, Galapagos and SpinCo, to enhance strategic focus and shareholder value [4][12] - Financial results for 2024 show a net profit of €74.1 million, down from €211.7 million in 2023, with total net revenues increasing by 15% to €275.6 million [12][23] Company Strategy - The company aims to optimize its CD19 CAR-T portfolio by prioritizing GLPG5101 and deprioritizing GLPG5201, focusing on high unmet medical needs in oncology [3][5] - Galapagos is expanding its decentralized cell therapy platform to deliver fresh, stem-like early memory CAR T-cells within a median vein-to-vein time of seven days [2][31] - The company is enhancing its manufacturing capacity through partnerships and decentralized manufacturing units in key regions [8][9] Financial Performance - Galapagos ended 2024 with €3.3 billion in cash and cash equivalents, with plans to allocate approximately €2.45 billion to SpinCo [4][26] - Research and development expenses increased by 39% to €335.5 million, primarily driven by oncology cell therapy programs [13][16] - The company reported a total operating loss from continuing operations of €188.3 million in 2024, compared to €88.3 million in 2023 [16][19] Clinical Development - GLPG5101 has shown high objective response rates in clinical trials, with 100% response in mantle cell lymphoma and 95% in marginal zone/follicular lymphoma [8] - The ongoing ATALANTA-1 Phase 1/2 study is expanding to include additional high-risk indications, with patient recruitment ongoing in Europe and plans to enroll U.S. patients [8][9] - Galapagos is also advancing GLPG5301 for multiple myeloma and plans to initiate clinical development of a novel CAR-T candidate in 2025 [6][9] Future Outlook - The company expects to complete the separation into two entities by mid-2025, with Galapagos focusing on its cell therapy pipeline and SpinCo on small molecule assets [4][12] - Galapagos anticipates a normalized annual cash burn of €175 million to €225 million post-separation, with sufficient cash to support operations until 2028 [4][26] - The company aims to present additional data from its clinical studies at medical meetings in 2025, reinforcing its commitment to innovation in oncology [8][9]

Core Viewpoint - Galapagos NV (GLPG) has experienced significant selling pressure, resulting in a 21.2% decline over the past four weeks, but analysts anticipate better earnings than previously expected, indicating potential for recovery [1]. Technical Analysis - The Relative Strength Index (RSI) is utilized to determine if GLPG is oversold, with a current RSI reading of 19.28 suggesting that selling pressure may be exhausting, paving the way for a potential rebound [2][5]. - Stocks oscillate between overbought and oversold conditions, and the RSI helps identify price reversal points, indicating that GLPG may be undervalued due to excessive selling [3]. Fundamental Analysis - There has been a strong consensus among sell-side analysts to raise earnings estimates for GLPG, leading to a 34.3% increase in the consensus EPS estimate over the last 30 days, which typically correlates with price appreciation [6]. - GLPG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the stock's potential for a turnaround [7].

Deal Overview - Galapagos NV plans to split into two listed entities by mid-2025, creating a new entity focused on innovative medicines, referred to as SpinCo, which will concentrate on oncology, immunology, and virology [1][7] - The remaining Galapagos entity will specialize in cell therapy, particularly its lead CAR-T candidate, GLPG5101, for non-Hodgkin lymphoma [2][10] - Both companies will be listed on Euronext, with Gilead Sciences holding approximately 25% of shares in both entities post-split [3][9] Strategic Rationale - The separation is deemed a crucial move to unlock substantial value for shareholders and position Galapagos for sustainable growth [4][9] - SpinCo will receive around $2.5 billion from Galapagos to focus on building a pipeline of innovative medicines through strategic business development [5][13] - The reorganization follows a significant decline in company value, with over 90% correction since 2020 due to clinical trial setbacks and the impact of the COVID-19 pandemic [8][10] Financial Overview - Galapagos expects to have about €500 million in cash post-separation, aiming to address unmet medical needs through its cell therapy pipeline [10][11] - The company anticipates a normalized annual cash burn between €175 million and €225 million, excluding restructuring costs [12] - In FY23, total revenue declined 0.6% YoY to €239.7 million, with collaboration revenues amounting to €239.7 million [26] Workforce and Operations - The reorganization will lead to a reduction of around 300 positions in Europe, representing approximately 40% of the workforce [3][11] - Galapagos plans to discontinue its small molecule discovery programs and seek partners for its small molecule assets [11][19] Research and Development Focus - Galapagos will continue to advance its cell therapy platform, particularly in oncology, while SpinCo will focus on acquiring and developing innovative therapies in oncology, immunology, and virology [10][28] - The company has a robust pipeline of CAR-T therapies and over 15 discovery programs in immunology and oncology [20][21]

Strategic Reorganization and Separation - Galapagos plans to separate into two entities: Galapagos, focusing on cell therapy leadership in oncology, and SpinCo, dedicated to building a pipeline of innovative medicines through transformational transactions [1][4] - SpinCo will be capitalized with approximately €2.45 billion in cash and will focus on oncology, immunology, and virology through strategic business development transactions [4] - Galapagos will gain full global development and commercialization rights to its pipeline, subject to single-digit royalties to Gilead on net sales of certain products [2][5] Corporate Structure and Shareholder Impact - Gilead will hold approximately 25% of the outstanding shares in both Galapagos and SpinCo post-separation, with lock-up periods until March 31, 2027, for Galapagos and six months for SpinCo [7] - All Galapagos shareholders will receive shares of SpinCo on a pro rata basis based on their holdings as of a record date [6] - Gilead will nominate two Directors to the SpinCo Board, which will be majority independent [7] Financial and Operational Focus - Galapagos expects its normalized annual cash burn to be between €175 million and €225 million post-reorganization, excluding restructuring costs [12] - The company plans to discontinue its small molecule discovery programs and seek partners for its small molecule assets, including the TYK2 inhibitor GLPG3667 [10] - Galapagos will reduce approximately 300 positions, representing 40% of its workforce, primarily in Europe, to focus on long-term value creation in cell therapy [11] Strategic Vision and Leadership - The separation aims to unlock shareholder value by allowing Galapagos to focus on cell therapy in oncology while SpinCo pursues innovative therapies through strategic transactions [3][8] - Galapagos' lead CAR-T candidate, GLPG5101, has shown encouraging efficacy and safety in relapsed/refractory non-Hodgkin lymphoma, supporting its decentralized cell therapy manufacturing platform [9] - The reorganization is expected to position Galapagos for sustainable growth and future success in cell therapies [13] Transaction Process and Timeline - The separation is subject to customary conditions, including consultations with works councils and shareholder approval, with completion expected by mid-2025 [15] - Goldman Sachs International and Lazard acted as financial advisors, while Baker McKenzie and Allen Overy Shearman Sterling provided legal counsel [16] Industry and Market Implications - The separation allows investors to assess the distinct value propositions of Galapagos and SpinCo, enabling targeted investment strategies based on each entity's focus [14] - SpinCo's focus on innovative medicines and strategic transactions aligns with emerging trends in biotechnology and high unmet medical needs [4][8]

Mechelen, Belgium; January 7, 2025, 22:01 CET; Galapagos NV (Euronext & NASDAQ: GLPG) today announced that the Company will present at the 43rd Annual J.P. Morgan Healthcare Conference on Wednesday, January 15, 2025, at 1:30 pm PT in San Francisco.A live webcast of the presentation will be accessible on the Investors page of the Company’s website at www.glpg.com/investors. A replay of the webcast will be available following the completion of the event and will be archived for up to 30 days.In addition, Gala ...

Q3 2024 Financial Results October 31, 2024 Galápagos Disclaimer this presentation contains "forward-looking statements", all of which involve certain risks and unertainties. Thees statements are often, but are not always, made through t fbeleve," "expect","nerl," "upcoming"," thune," "encouraging," tim," "con," "could," "potential," "forward," "hiend," "hney"," might," "potential," "will," "towards," "onti rongress," reenaint," tecnolor," fluther and "predict", or similar expressions. There statements inclu ...

Galapagos NV (NASDAQ:GLPG) Q3 2024 Earnings Conference Call October 31, 2024 9:00 AM ET Company Participants Sofie Van Gijsel - Head of IR Paul Stoffels - Chair of the Board & CEO Thad Huston - CFO & COO Jeevan Shetty - Head of Development Oncology Wulf Bocher - Head Immunology Therapeutic Area Conference Call Participants Xian Deng - UBS Judah Frommer - Morgan Stanley Alexander Kelly - TD Cowen Shan Hama - Jefferies Nevin Varghese - RBC Capital Markets Jacob Mekhael - KBC Securities Faisal Khurshid - Leeri ...