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Alex [on for Phil Nadeau]

Director and Senior Equity Research Analyst at Cowen and Company, LLC

Alex Nowak is a Director and Senior Equity Research Analyst at Cowen, specializing in biotechnology and rare disease therapeutics. He covers a range of companies including Sarepta Therapeutics, Ultragenyx, Orchard Therapeutics, and Regenxbio, demonstrating a strong record with a success rate near 60% and high average returns as ranked by platforms like TipRanks. Since joining Cowen in 2014, Nowak has developed extensive expertise in biotech equity research, following early experience at JMP Securities and prior analytics roles at other financial services firms. He holds FINRA Series 7, 63, 86, and 87 licenses and is recognized for his in-depth clinical and financial analyses within the healthcare sector.

Alex [on for Phil Nadeau]'s questions to GALAPAGOS (GLPG) leadership

Question · Q3 2023

Asked for the reasons behind vein-to-vein times exceeding the 7-day target and inquired about any ongoing efforts to optimize this timeline.

Answer

The 7-day vein-to-vein time is achieved consistently. The few exceptions where the time was slightly longer (8-9 days) were due to patient-related factors like low cell yield or a single instance of a manufacturing restart. It was stressed that all patients were treated within 14 days, which is highly competitive, and that good efficacy was still observed in these cases.

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