Galapagos - H1 update: FY Jyseleca® sales guidance lowered and CAR-T topline data pushed ahead
Last night, Galapagos provided its H1 update announcing Jyseleca® Q2 net sales of EUR 28m (Q2 CSS: EUR 31m, H1: EUR 54m) indicating limited uptake of the drug, reflecting the expected impact of the PRAC recommendation. As a result thereof, GLPG revised its FY ‘23 Jyseleca® net sales guidance downward (EUR 100-120m vs. 140-160m before). On a more positive note, GLPG reiterates its FY 23 cash burn of EUR 380-420m.GLPG also pushes the Ph1 topline data release from its CAR-T programs towards year-end as a result of patient enrolment dynamics. This is rather disappointing to us since these results couldGalapagos 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.
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