Galapagos NV (GLPG) is a leading biotherapeutics company engaged in development and commercialization of therapies using small molecules. The pipeline project of the company includes filgotinib used in treating rheumatoid arthritis, ulcerative colitis and other diseases. GLPG1690 is tested against idiopathic pulmonary fibrosis and NOVESA for systemic sclerosis.
The price of GLPG stock during the regular trading on January 26, 2022 was $53.32 with a slight decrease of 0.04%. At last check in the premarket on January 27, 2022, the stock sharply inclined by 12.08%.
GLPG: Events and Happenings
On 26 January 2022, GLPG reported about the approval of its Subscription Right Plan 2022 by the company’s supervisory board. The plan created up to 1,000,000 subscription rights which have eight years exercise term.
On January 18, 2022, GLPG reported about the grant of approval for the marketing of filgotinib by the Medicines and Healthcare products Regulatory Agency. On January 6 2022, GLPG reported that the Company’s Executives presented at 40th Annual J.P. Morgan Healthcare Conference held on January 10-13, 2022.
On December 3, 2021, GLPG reported an incline in its share capital due to its subscription right exercises. The company issued 22,600 ordinary shares for a total capital rise of €0.57 million. On November 22, 2021, GLPG reported about the closure of enrolment during its Phase 2 clinical studies of MANGROVE.
On November 15, 2021, GLPG reported about the grant of approval for the marketing of filgotinib by the European Commission.
GLPG: Key Financials
On November 4, 2021, GLPG reported its financial results for the quarter ended September 30, 2021. Some of the key updates are as follows.
Revenue
Collaboration revenue in Q3 2021 was €58.5 million compared to €127.5 million in the same period of 2020.
Net Loss per Share
Basic and diluted net loss per share in Q3 2021 was €64.6 million or €0.99 compared to €81.9 million or €1.25 in the same period in 2020.
Conclusion
GLPG stock down performed from the past six months period by 11% due to sluggish economic development in pandemic conditions. The current premarket increase in stock price is the result of creation of new subscription right plan by the company. The investors and experts are eager to see the company blooming.
