Belgium's Galapagos Q1 revenue falls 91% but returns to profit

Lakefront Biotherapeutics NV

06/05/2026 21:14

Overview

Belgium biotech firm's Q1 revenue fell 91% yr/yr after prior deferred income release

Company posted Q1 net profit after large loss last year, aided by fair value gains

Galapagos to rebrand as Lakefront Biotherapeutics and advance Gilead collaboration

Outlook

Galapagos expects 2026 cash spend related to Ouro of €775 mln to €790 mln

Company expects year-end 2026 cash and financial investments of €1.975 bln to €2.050 bln

Galapagos continues to expect €125 mln to €175 mln one-time cash costs for cell therapy wind-down in 2026

Result Drivers

REVENUE DECLINE - Co said Q1 revenue fell due to prior-year deferred income release related to exclusive access rights granted to Gilead

LOWER R&D EXPENSES - Co attributed reduced R&D spending to wind-down of cell therapy activities and lower personnel costs

FAIR VALUE GAINS - Net profit driven by positive fair value adjustments and currency exchange gains on financial investments

Company press release: ID:nGNER7j7S

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 6.50 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and 3 "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy."

Wall Street's median 12-month price target for Galapagos NV is €27.90, about 13.3% above its May 6 closing price of €24.62

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)