Half Year 2024 Galapagos NV Earnings Call Transcript
Key Points
- Galapagos NV (GLPG) has a strong cash position of EUR3.4 billion, supporting future growth and R&D investments.
- The company has made significant regulatory progress, including the submission of an IND for the ATALANTA Phase 1/2 study of 5101 in refractory, relapsed non-Hodgkin lymphoma.
- Galapagos NV (GLPG) is expanding its cell therapy manufacturing network, including a new agreement with Blood Centers of America for the US territory.
- The company has presented encouraging safety, efficacy, and durability data for its CAR-T programs, particularly 5101 and 5201, in various scientific conferences.
- Galapagos NV (GLPG) has entered into a promising collaboration with Adaptimmune, adding TCR T-cell therapy to its pipeline and expanding into the solid tumor space.
- The company reported an increase in R&D costs compared to the previous year, driven by investments in oncology and small molecules.
- There were two deaths reported during the ATALANTA study, raising concerns about the safety profile of the treatments.
- The PAPILIO Phase 1/2 BCMA-directed multiple myeloma program observed a case of Parkinsonism, leading to a temporary pause in enrollment.
- Galapagos NV (GLPG) anticipates a higher cash burn for 2024, updated to EUR370 million to EUR410 million, primarily due to the Adaptimmune collaboration.
- The competitive landscape in the multiple myeloma space poses challenges for the prioritization and future of the 5301 program.
Welcome all to the audio webcast of Galapagos as H1 2024 results I'm Sofie Van Gijsel, Investor Relations, representing the reporting team at Galapagos. This recorded webcast is accessible via the Galapagos website homepage and will be available for downloads and replay later on today.
I would like to remind everyone that we will be making forward-looking statements during today's webcast. These forward-looking statements include remarks concerning future developments of the pipeline and our company and possible changes in the industry and competitive environments.
Because these forward-looking statements involve risks and uncertainties, Galapagos' actual results may differ materially from the results expressed or implied in these statements.
Today's speakers will be Paul Stoffels, CEO; and Thad Huston, CFO and COO. Paul will reflect on the first half of 2024 and discuss our pipeline and programs. Thad will provide a financial and operational update and discuss the outlook for 2024 and present concluding remarks.
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