Galapagos

Galapagos reported a 91.3% decline in revenue for Q1 2026 to €6.5 million, primarily due to the loss of income from the agreement with Gilead. Despite the revenue shock, the company posted a net profit of €14.5 million, driven by positive currency effects and financial results. Management announced a comprehensive transformation including a renaming to Lakefront Biotherapeutics, a focus on innovative therapies such as Gamgertamig, and consideration of a share buyback as part of a new Gilead agreement. For 2026, Galapagos expects high expenses (including a prepayment to Gilead and costs related to the acquisition of Ouro Medicines) and forecasts year-end cash of between €1.975 billion and €2.05 billion. » More on de.investing.com

RBC Capital Markets reduced its price target for Galapagos NV from $33 to $28 while maintaining a Sector Perform rating, citing seasonal pressures including reimbursement resets, gross-to-net dynamics, fewer selling days and potential weather-related disruptions. The bank noted that rising M&A activity and clearer drug-pricing expectations could help offset near-term volatility. Separately, Galapagos and Gilead agreed a binding framework related to Gilead’s acquisition of Ouro Medicines that expands collaboration rights and includes funding and operational arrangements. » More on finance.yahoo.com

Galapagos reached a binding agreement with Gilead tied to Gilead’s acquisition of Ouro Medicines, obtaining licenses to key IP, gamgertamig (a BCMAxCD3 T cell engager) and additional preclinical programs, plus related facilities and staff. The deal makes Galapagos responsible for early-stage development while later-stage costs and global commercialization (outside certain territories) will be shared with Gilead; Galapagos can receive milestone payments and tiered royalties of 20–23% on net sales. The company can independently deploy at least $500M of cash, including up to $150M for potential share buybacks. Gamgertamig has FDA Fast Track and Orphan Drug designations for AIHA and ITP and may enter registrational studies as early as 2027. Galapagos also proposed appointing Gino Santini as non-executive independent director and future chair, subject to shareholder approval. » More on finance.yahoo.com