Galapagos : Sharp ramp-up in R&D costs
>A sharp ramp-up in R&D costs - Galapagos reported yesterday its Q3 earnings after the closure of the US market. Revenues stood at € 60m vs € 70m forecast. These revenues come mainly from the booking of its agreement over 10 years with Gilead. In terms of costs, opex ramp up very sharply in the first 9M of the year.The R&D business is developing as expected following the progress in clinical programs, but costs are proving far higher than forecasts with a s...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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