Galapagos slips after it pauses drug candidate study

Lakefront Biotherapeutics NV

02/08/2024 10:01

** Shares in Galapagos  GLPG.AS  slide around 4% as the
Belgian biotech company said it was temporarily pausing a drug
candidate trial after one observed case of Parkinsonism
    ** The company said it would pause enrolment in the Phase
1/2 PAPILIO-1 for its drug candidate GLPG5301 in
relapsed/refractory multiple myeloma
    ** It submitted a protocol amendment to the European
regulator and anticipates resuming recruitment in the coming
months, it said 
    ** KBC Securities' analyst Jacob Mekhael says the share move
can be attributed to "the adverse event which led to the pause
in enrolment"
    ** Degroof Petercam analyst David Seynnaeve also says the
move likely is at least partly related to the pause in the study
    ** Stock at the bottom of Belgium's blue-chip BEL 20  .BFX 
index
     


($1 = 0.9251 euros)

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