Report
Jacob Mekhael

Galapagos FIRST LOOK: 3Q23 update shows continued CAR-T benefit, more at ASH in December

Galapagos reported 3Q23 results with the main focus being the abstracts with updated data from the CD19 CAR-T phase 1/2 trials in r/r NHL and r/r CLL to be presented at ASH in December 2023. We are encouraged by the responses in r/r NHL which came in line with Yescarta (CD19 CAR-T, Gilead), and see the 75% CR rate in r/r CLL as potentially differentiating GLPG5201 from Breyanzi's 18% CR in the same indication. We reiterate our Accumulate and €55 TP.
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
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Jacob Mekhael

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