Earnings summaries and quarterly performance for GALAPAGOS.
Research analysts who have asked questions during GALAPAGOS earnings calls.
Jacob Mekhael
KBC Securities
4 questions for GLPG
Also covers: ARGX, AUTL
Judah Frommer
Morgan Stanley
3 questions for GLPG
Also covers: APLS, ARQT, ATAI +5 more
PN
Philip Nadeau
TD Cowen
3 questions for GLPG
Also covers: ADVM, APLS, ATRA +13 more
Sean McCutcheon
Raymond James
3 questions for GLPG
Also covers: BMY, CMPX, CRIS +6 more
Sebastiaan van der Schoot
Van Lanschot Kempen
3 questions for GLPG
Also covers: AUTL, CLLS
Brian Abrahams
RBC Capital Markets
2 questions for GLPG
Also covers: ACAD, ATAI, BCRX +19 more
A[
Alex [on for Phil Nadeau]
Cowen
1 question for GLPG
Chi
Bank of America
1 question for GLPG
Also covers: BHC, IONS
CF
Chi Fong
Bank of America
1 question for GLPG
DL
Dane Leone
Raymond James
1 question for GLPG
Also covers: ADVM, XNCR
David Seynnaeve
Degroof Petercam
1 question for GLPG
DL
Delphine Laoui
Bernstein
1 question for GLPG
Faisal Khurshid
Leerink Partners
1 question for GLPG
Also covers: ABCL, ANIP, ASND +7 more
MM
Manos Mastorakis
Deutsche Bank
1 question for GLPG
Also covers: ARGX, BNTX
MD
Matthias Danne
Stifel Europe
1 question for GLPG
SH
Shan Hama
Jefferies
1 question for GLPG
Also covers: NBTX, ZLDPF
XD
Xian Deng
Berenberg
1 question for GLPG
Also covers: ARGX, GMAB
Recent press releases and 8-K filings for GLPG.
Galapagos reports Q4 and Full Year 2025 financial results, outlines strategic transformation
GLPG
Earnings
Guidance Update
New Projects/Investments
- Galapagos reported a total operating profit of EUR 295.1 million for 2025, a significant improvement from an operating loss of EUR 188.3 million in 2024, primarily due to the release of EUR 1,069 million in deferred income from the Gilead collaboration.
- The company concluded 2025 with EUR 2,998 million in cash and financial investments and projects EUR 2.775 billion-EUR 2.85 billion by December 31, 2026, excluding business development activities.
- Galapagos is undergoing a strategic transformation, including winding down cell therapy activities with an anticipated EUR 125 million-EUR 175 million one-time restructuring cash impact in 2026, and expects to be cash flow neutral to positive by year-end 2026.
- The company is focused on transformative business development, leveraging its cash position and collaboration with Gilead, which could enable deals beyond its current EUR 3 billion capital.
- A significant portion of cash has been converted to US dollars, with approximately 72% now held in USD as of February 24, 2026, to align with future investment and cost base.
Feb 24, 2026, 1:00 PM
Galapagos Reports Q4 and Full Year 2025 Financial Results and Strategic Transformation
GLPG
Earnings
Guidance Update
New Projects/Investments
- Galapagos reported a full year 2025 operating profit of EUR 295.1 million, a significant improvement from an operating loss of EUR 188.3 million in 2024, primarily due to the release of EUR 1,069 million in deferred income from the Gilead OLCA.
- The company ended 2025 with approximately EUR 3 billion in cash and financial investments and anticipates having EUR 2.775 billion-EUR 2.85 billion by December 31, 2026, excluding business development activities.
- Galapagos is undergoing a strategic transformation, including winding down its cell therapy activities, which negatively impacted 2025 operating expenses by EUR 399.8 million and is expected to incur one-time restructuring cash impacts of EUR 125 million-EUR 175 million in 2026. The wind-down is anticipated to be substantially completed by the end of Q3 2026.
- The company is focused on transformative business development in I&I and oncology, leveraging its capital base and collaboration with Gilead, and expects to be cash flow neutral to positive by the end of 2026.
Feb 24, 2026, 1:00 PM
Galapagos Reports Strong Full Year 2025 Financial Results and Strategic Reset
GLPG
Earnings
Guidance Update
New Projects/Investments
- Galapagos NV reported a net profit of €320.9 million for the full year 2025, a significant increase from €74.1 million in 2024, with total net revenues reaching €1,112.2 million primarily due to the recognition of €1,069.0 million in deferred income from its drug discovery platform.
- The company maintained a robust financial position, ending 2025 with approximately €3.0 billion (€2,998.0 million) in cash and financial investments.
- Galapagos initiated a strategic reset in 2025, including the wind-down of its cell therapy activities, which resulted in an impairment of €228.1 million in 2025.
- Looking ahead, Galapagos anticipates being cash flow neutral to positive by the end of 2026 and projects its year-end 2026 cash and financial investments to be between €2.775 billion and €2.850 billion.
Feb 23, 2026, 10:15 PM
Galapagos Initiates Wind-Down of Cell Therapy Activities
GLPG
Layoffs
New Projects/Investments
M&A
- Galapagos NV's Board of Directors has decided to initiate the wind-down of its cell therapy activities following the completion of the works council consultation process.
- This strategic decision, initially announced on October 21, 2025, will impact approximately 365 employees and lead to the closure of sites in Leiden, Basel, Princeton, Pittsburgh, and Shanghai.
- The company plans to reposition its remaining organization for long-term growth through transformative business development, continuing non-cell therapy activities, including the TYK2 program GLPG3667.
- As of December 31, 2025, Galapagos reported approximately €3.0 billion in cash and cash equivalents, and financial investments.
Jan 5, 2026, 9:57 PM
Galapagos Announces Topline Results for GLPG3667 in Dermatomyositis and Systemic Lupus Erythematosus Studies
GLPG
New Projects/Investments
- Galapagos announced topline results from two Phase 3-enabling studies for its selective TYK2 inhibitor, GLPG3667, in dermatomyositis (GALARISSO) and systemic lupus erythematosus (GALACELA).
- The GALARISSO study for dermatomyositis met its primary endpoint, demonstrating a statistically significant clinical benefit in the Total Improvement Score (TIS) at Week 24 (p=0.0848; Δ: 14.26).
- Conversely, the GALACELA study for systemic lupus erythematosus did not achieve statistical significance in its primary endpoint analysis at Week 32, although it showed numerical improvements on several secondary endpoints.
- The safety profile of GLPG3667 was consistent with previous studies, and Galapagos will evaluate strategic alternatives, including resuming its partnering process, for GLPG3667 in dermatomyositis and potentially other severe auto-immune indications.
Dec 18, 2025, 9:32 PM
Galapagos Presents Positive ATALANTA-1 Cell Therapy Data and Announces Intent to Wind Down Cell Therapy Activities
GLPG
New Projects/Investments
M&A
- Galapagos presented new Phase 2 data for its CD19 CAR T-cell therapy candidate, GLPG5101, in mantle cell lymphoma (MCL) at the 67th American Society of Hematology (ASH) Annual Meeting on December 8, 2025.
- The ATALANTA-1 study demonstrated an objective response rate (ORR) of 100% and a complete response rate (CRR) of 96% among 24 infused patients, with duration of response (DOR) and progression-free survival (PFS) rates of 83% at a median follow-up of 9 months.
- GLPG5101 also showed an encouraging safety profile, with no Grade ≥ 3 Cytokine Release Syndrome (CRS) and only one case of Grade ≥ 3 Immune effector Cell-Associated Neurotoxicity Syndrome (ICANS).
- Despite these positive results, Galapagos announced its intention to wind down its cell therapy activities as of October 21, 2025, following a comprehensive strategic evaluation. This intention is subject to works council consultations, but Galapagos remains open to viable proposals to acquire all or part of the cell therapy business.
Dec 8, 2025, 11:05 AM
Galapagos Outlines Strategic Shift and Capital Deployment Plans
GLPG
M&A
New Projects/Investments
Guidance Update
- Galapagos is undergoing a strategic transformation, exiting its cell therapy business to focus on building a new pipeline through disciplined business development.
- The company possesses approximately EUR 3 billion in cash, with its shares trading at a significant discount, reflecting EUR 46 in cash per share against a EUR 26 share price as of November 19, 2025.
- Management anticipates year-end 2025 cash between EUR 2.975 billion and EUR 3.025 billion, after incurring EUR 100 million to EUR 125 million in additional operating costs and EUR 150 million to EUR 200 million in restructuring costs for the cell therapy wind-down.
- Galapagos expects to achieve cash flow neutral to positive status by year-end 2026, supported by interest income, tax refunds, and royalty income.
- Capital will be deployed into de-risked, post-Proof-of-Concept (POC) assets, primarily in immunology and oncology, often in collaboration with Gilead, which holds a 25% stake.
Nov 19, 2025, 1:30 PM
Galapagos outlines strategic transformation and cell therapy exit
GLPG
M&A
New Projects/Investments
Guidance Update
- Galapagos is undergoing a transformation, exiting its cell therapy business to focus on building a new pipeline and deploying its capital into new programs.
- The company holds approximately EUR 3 billion in cash and is trading at a significant discount, with EUR 46 in cash per share compared to a trading price of EUR 26.
- The wind-down of the cell therapy business is expected to incur EUR 100 million-EUR 125 million in additional operating costs and EUR 150 million-EUR 200 million in restructuring costs, with completion anticipated in Q1 2026.
- Galapagos expects to be cash flow neutral or positive by year-end 2026, supported by interest income, tax refunds, and royalty income.
- The company plans to deploy capital into de-risked business development opportunities (M&A and in-licensing) primarily in immunology and oncology, working closely with Gilead.
Nov 19, 2025, 1:30 PM
Galapagos Outlines Strategic Shift and Capital Deployment Plans
GLPG
M&A
New Projects/Investments
Guidance Update
- Galapagos is undergoing a transformation, holding approximately EUR 3 billion in cash and trading at a significant discount to this cash value.
- The company is winding down its cell therapy business, a process expected to conclude in Q1 2026, incurring estimated additional operating costs of EUR 100 million-EUR 125 million and restructuring costs of EUR 150 million-EUR 200 million.
- The revised strategy focuses on deploying capital into de-risked, post-POC assets in areas like immunology and oncology through business development (M&A and in-licensing), with an aim to achieve cash flow neutrality or positivity by year-end 2026.
- Galapagos is actively collaborating with Gilead, its 25% shareholder, to renegotiate their overriding partnership agreement (OLCA) to enable future deals and potential co-funding opportunities.
Nov 19, 2025, 1:30 PM
Galapagos to Wind Down Self-Therapy Business, Focus on Business Development
GLPG
Layoffs
New Projects/Investments
Guidance Update
- Galapagos announced its intention to wind down its self-therapy business after a five-month strategic review failed to yield viable proposals, a decision expected to impact up to 365 employees and lead to the closure of several sites.
- The wind-down is projected to incur EUR 100 million-EUR 125 million in operating cash impact from Q4 2025 through 2026, and EUR 150 million-EUR 200 million in one-time restructuring cash costs in 2026.
- As of September 30, 2025, Galapagos held EUR 3.05 billion in cash, cash equivalents, and financial investments, representing approximately EUR 46 per share, and generated EUR 77.2 million in fair value gains and interest income for the first nine months of 2025.
- The company anticipates being cash flow neutral to positive by the end of 2026, excluding business development activities and currency fluctuations, and is shifting its focus to a new business development strategy for clinically de-risked opportunities, potentially in collaboration with Gilead.
Nov 6, 2025, 1:00 PM
Quarterly earnings call transcripts for GALAPAGOS.
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