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Galapagos (GLPG) investor relations material
Galapagos Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary24 Jul, 2025
Executive summary
New CEO, CFO, CBO, and CSO appointed to drive strategic transformation and pipeline expansion.
Strategic alternatives, including divestiture, are being evaluated for the cell therapy business.
Gilead royalty and waiver agreement grants full global rights to cell therapy business.
Strong cash position of €3.1 billion as of June 30, 2025, supports future growth initiatives.
Financial highlights
Net revenues for H1 2025 were €140.3 million, unchanged from H1 2024.
Operating loss from continuing operations increased to €215.7 million from €71.3 million year-over-year, mainly due to €131.6 million in one-time reorganization costs.
Net loss for H1 2025 was €259.1 million, compared to a net profit of €99.2 million in H1 2024.
R&D expenses rose to €278.0 million, up 91% year-over-year, driven by severance, impairments, and higher cell therapy costs.
Cash and financial investments decreased by €226.3 million during H1 2025, with €91.5 million operational cash burn.
Outlook and guidance
Updated 2025 cash outlook to be provided with Q3 results as strategic alternatives for cell therapy are assessed.
Topline results for GLPG3667 in SLE and DM expected in H1 2026; pivotal development for GLPG5101 in MCL to start in 2026.
Assess impact of leadership changes on strategy.
What is driving the increase in R&D expenses?
Detail the terms of the Gilead royalty agreement.
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Q3 20256 Nov, 2025
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Frequently asked questions
Galapagos NV is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action. Our pipeline comprises four Phase 2 programs, three Phase 1 trials, five pre-clinical studies, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, fibrosis, osteoarthritis, and other indications. Galapagos NV was founded in 1999 and is headquartered in Mechelen, Belgium.
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