Galapagos reports first nine months FY23 revenue of EUR 448.9M

Reports first nine months Jyseleca net sales of EUR 82.1M…Cash and current financial investments of EUR 3.8B at 30 September 2023…”We continue to be very encouraged by the safety and efficacy results observed in the ongoing Phase 1/2 studies with our CD19 CAR-T programs, GLPG5201 and GLPG5101, with additional data to be presented at the upcoming ASH conference in December. Collaboration revenues increased mainly due to revenue recognition related to the collaboration agreement with Gilead for the filgotinib development amounting to EUR 186.0 million in the first nine months of 2023 compared to EUR 166.8M for the same period last year. This increase is primarily driven by a positive catch-up of revenue explained by a decrease in the total estimated remaining costs to complete the filgotinib development. This was a consequence of the topline results from the Phase 3 DIVERSITY trial with filgotinib in CD and our decision not to submit a Marketing Authorization Application in Europe. We reported a group net profit for the first nine months of 2023 of EUR 54.1M, compared to a group net loss of EUR10.8M for the first nine months of 2022…Cash position…Current financial investments and cash and cash equivalents totaled EUR 3,811.7M on 30 September as compared toEUR 4,094.1M on 31 December 2022.