Strong Cash Position
Galapagos has a cash balance of approximately EUR 3 billion, representing EUR 46 per share, generating significant interest income. Through the first 9 months of the year, they received approximately EUR 77 million in interest income.
Partnership and Strategic Opportunities
Galapagos is leveraging its partnership with Gilead to pursue business development opportunities. Gilead owns 25% of Galapagos, and the collaboration agreement allows them to opt into U.S. rights of proof-of-concept assets.
Potential Income Streams
Galapagos receives royalties and earn-outs from Gilead and Alfasigma on sales of Jyseleca, expected to continue into the mid-2030s. They also anticipate receiving tax receivables of approximately EUR 20 million to EUR 35 million per year over the next 3 years.
Pipeline Developments
The development team has progressed the Phase III enabling studies for the TYK2 program, GLPG3667, which is expected to report data from two fully enrolled trials in early 2026.