GLPG

Galapagos NV (GLPG) Q1 2026 Earnings Call Transcript

Galapagos' name change to Lakefront Biotherapeutics approved at the Company's EGM  (Euronext & NASDAQ: LKFT) Collaboration Agreement with Gilead to advance potential First and Best-in-Class T Cell Engager expected to close in the Second Quarter of 2026 Following this transaction, including estimated associated R&D spend until first approval, the Company will continue to have a majority of its current cash remaining for additional strategic transactions and other capital allocation priorities Year-end 2026 cash and financial investments balance expected to be approximately €2B Management to host conference call on May 7, 2026, at 14:00 CET / 8:00 am ET Mechelen, Belgium ; May 6, 2026, 22:01 CET; regulated information – Galapagos NV (Euronext & NASDAQ: GLPG) today reported its financial results for the first quarter of 2026 and provided a business update. “Having joined the company just one year ago, I'm thrilled with our progress. I am looking forward to consummating our partnership with Gilead and adding Ouro Medicines' talented team and its portfolio of programs to our Company, including the potential first and best in class T cell engager in autoimmune diseases, gamgertamig (OM336). We are excited that our Company is rebranding as Lakefront Biotherapeutics as this name reflects our Company's strategic evolution,” said Henry Gosebruch, Chief Executive Officer of Galapagos. Aaron Cox, Chief Financial Officer of Galapagos, added, “Following the anticipated use of cash to fund our collaboration with Gilead concerning its acquisition of Ouro Medicines, the Company will remain robustly capitalized and will have increased flexibility, including the ability to spend up to $500 million for business development independent of Gilead and not subject to our 2019 Option, License, and Collaboration Agreement with Gilead. This would also include the potential to use up to $150 million of that $500 million for share repurchases to the extent that we have available distributable reserves. In addition to the upfront consideration of $837.5 million, we anticipate additional 2026 Ouro-related cash expenditures to be in the range of €60-75 million, inclusive of R&D costs, one-time transaction costs and assuming a mid-year closing of the transaction.” First Quarter 2026 Business Update

Mechelen, Belgium; April 28, 2026, 22:01 CET — Galapagos NV (Euronext & NASDAQ: GLPG) today announces that all resolutions proposed at the Company's Annual and Extraordinary Shareholders' Meetings (AGM and EGM) held on 28 April 2026 were approved.