Report
David Seynnaeve, PhD

Galapagos - First patient randomized in SLE Ph2 with TYK2i

Last night, Galapagos announced the start of a Ph2 study with TYK2i GLPG3667 for systemic lupus erythematosus (SLE). The primary endpoint is the proportion of patients who achieve the SLE responder index (SRI)-4 response at Week 32. This study launch was still expected in 2023, hence no surprise to us. We do not expect a significant share price reaction today. We make use of this opportunity to share our revised Jyseleca® sales expectations based on recent H1 results: we cut our peak sales estimate to EUR 265m (vs. EUR 380m before; -30%). As a result thereof, our new TP arrives
Underlying
Galapagos NV

Galapagos is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action, addressing disease areas of high unmet medical need. Execution on its proprietary drug target discovery platform has delivered a pipeline that consists of three Phase 2, three Phase 1, five pre-clinical, and 20 discovery programs in inflammation, cystic fibrosis, or CF, osteoarthritis, and other indications. Co.'s highly flexible platform offers applicability across a broad set of therapeutic areas. Co.'s programs include filgotinib, GLPG1837, GLPG1690, GLPG2222, GLPG1972.

Provider
Degroof Petercam
Degroof Petercam

​We are an investment house with Belgian roots founded on more than 150 years of trust.

As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.

Analysts
David Seynnaeve, PhD

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