Kepler cuts Galapagos on 'Pyrrhic gamble' strategy

Lakefront Biotherapeutics NV

20/11/2024 09:04

** Shares in Galapagos  GLPG.AS  drop around 3% after Kepler
Cheuvreux cut the Dutch pharmaceutical company to "reduce" from
"hold" 
    ** The brokerage says Galapagos' high-risk strategy could
ultimately result in a Pyrrhic victory - achieving outcomes at
unreasonably high cost
    ** It points to regulatory and operational challenges for
CAR-T programs in hemato-oncology, namely intensifying
competition and extended timelines, which might erode their
values by the time the first products reach the market
    ** Besides CAR-T, business efforts lack clear focus and
synergy, Kepler says
    ** The stock is at the bottom of Belgium's blue-chip BEL 20
 .BFX  index

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