First nine months 2021 financial results: Group revenues of €317.9 millionOperating loss of €175.7 millionNet loss of €119.6 millionCash and current financial
Investegate |Galapagos NV Announcements | Galapagos NV: Galapagos reports H1 financial results with refocused pipeline and operational progress investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
Operator
Good day, and thank you for standing by. Welcome to the Galapagos Financial Results Q1 2021 Conference Call. [Operator Instructions] Please be advised that today s conference is being recorded. [Operator Instructions]
I would now like to hand the conference over to your first speaker today, Elizabeth Goodwin. Please go ahead.
Elizabeth Goodwin
Vice President of Investor Relations
Thank you all, and welcome to our call today. I m Elizabeth Goodwin, Investor Relations, and the webcast that we re recording is going to be accessible via the Galapagos website homepage and will be available for download and replay later on today. I d like to remind everyone that we ll 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 environment.
Published: May 07, 2021 By Alex Keown
After disappointing results from studies assessing therapies for rheumatoid arthritis studies and idiopathic pulmonary fibrosis,
refocus its clinical pipeline and make some cost adjustments expected to save the company €150 million.
In its first quarter report, Belgium-based Galapagos Chief Executive Officer Onno van de Stolpe said the company examined its ongoing clinical operations and will opt for a more risk-balanced pipeline. This means some programs have to be cut in order to support this new focus. That may mean job cuts, but Galapagos did not elaborate in its report. The company will retain its focus on novel targets that address unmet medical needs in inflammation, fibrosis and kidney diseases.