Galapagos shares heading for their worst day in almost 5 years after CAR T business wind-down announcement

Lakefront Biotherapeutics NV

21/10/2025 09:01

** Belgian biotech company Galapagos GLPG.AS shares drop almost 15%, heading for their worst day in almost 5 years, after announcing the wind-down of its CAR T cell therapy business due to lack of viable divestment offers

** The Amsterdam-listed company says it would wind down its cell therapy business after attempts to sell it were unsuccessful, affecting 365 jobs in Europe, China and the U.S
       ** It says the shut down of cell therapy business involves closures of facilities across five countries, with operational costs expected to reach between 100-125 million euros ($106–132.5 million) and restructuring costs estimated at EUR 150-200 MLN

** Analyst Stijn van der Schoot at Van Lanschot Kempen views the wind-down as negative, stating that divestment would have been the preferable outcome but is now unlikely

** Van der Schoot notes Galapagos' substantial EUR 3.1 BLN cash position could support future acquisitions, though shares experience immediate pressure following the announcement

** Up to the previous session's close, shares were up 11.7%​ YTD

($1 = 0.8575 euros)

(Reporting by Clement Martinot)

((Clement.Martinot@thomsonreuters.com;))