Galapagos NV ( (GLPG) ) has released its Q1 earnings. Here is a breakdown of the information Galapagos NV presented to its investors.
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Galapagos NV is a global biotechnology company focused on transforming patient outcomes through innovative cell therapies, particularly in the field of hematologic malignancies. In its first quarter of 2025, Galapagos reported significant progress in its clinical pipeline, notably dosing the first U.S. patient in the ATALANTA-1 study for its GLPG5101 program targeting mantle cell lymphoma. The company also announced leadership changes, with CEO Dr. Paul Stoffels retiring and Thad Huston stepping down as CFO/COO. Financially, Galapagos ended the quarter with €3.3 billion in cash and financial investments, despite a net loss of €153.4 million due to increased R&D expenses and strategic reorganization costs. The company reaffirmed its annual cash burn guidance and plans to separate into two entities, with SpinCo focusing on oncology, immunology, and virology. Looking ahead, Galapagos aims to advance its cell therapy pipeline and achieve pivotal development for GLPG5101 by 2026, with the first approval targeted for 2028, while maintaining financial discipline and strategic growth.