Galapagos rises on narrowing losses, guidance confirmation

Lakefront Biotherapeutics NV

03/11/2023 10:02

** Shares in Galapagos  GLPG.AS  rise 5% after the
Belgium-based drugmaker posted better 9-month results, confirmed
outlook and flagged positive data for its cancer drugs 
    ** Galapagos 9-month revenues rise 9% to 448.9 million euros
 ($477.54 million), operating loss narrows to 19 million euros,
and net result turns to profit of 54.1 million
    ** The company reiterates FY net sales guidance for its
Jyseleca drug and cash burn guidance
    ** Earlier this week, the company said it would sell its
Jyseleca business to AlfaSigma
    ** Galapagos also flags new encouraging data from ongoing
CAR-T programs Phase 1/2 studies for GLPG5201 in
relapsed/refractory chronic lymphocytic leukemia (rrCLL) and for
GLPG5101 in non-Hodgkin lymphoma (rrNHL)
    ** J.P. Morgan notes narrower-than-expected operating loss,
in part driven by higher revenues
    ** Tracks best day since mid-May
    ** Tops both BEL 20  .BFX  and AEX  .AEX  indices 
    
($1 = 0.9400 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))