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Delphine Laoui

Research Analyst at Bernstein

Delphine Laoui's questions to GALAPAGOS (GLPG) leadership

Question · Q4 2025

Delphine Laoui followed up by asking if Galapagos could communicate any expectations regarding the breakeven point for its operating income.

Answer

Head of Investor Relations Sofie Van Gijsel indicated that Galapagos expects to be cash flow neutral to positive by year-end. However, she noted that predicting operating income breakeven is challenging due to the 'chunky' nature of wind-down costs throughout the year.

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