The following is a summary of the Galapagos NV (GLPG) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Galapagos NV reported a net profit of EUR49 million for Q3 2024, bolstered by EUR71 million in interest income and fair value adjustments. They experienced a net decrease in cash position of EUR346 million due to operational costs and business development activities.

Business Progress:

• Galapagos is expanding its pipeline in oncology and immunology, advancing multiple cell therapies, and small molecule drugs.

• They have resumed recruitment for the GLPG5301 in multiple myeloma and GLPG3667 Phase II studies in dermatomyositis and lupus.

• Two early-stage pipeline candidates have been selected for clinical development.

Opportunities:

• The expansion of their decentralized CAR-T manufacturing network in the U.S., including a new partnership with Excellos and Blood Centers of America.

• Future clinical pipeline enriched by at least two new assets annually from 2026 in cell therapy and small molecules.

Risks:

• Challenges and delays in obtaining regulatory clearances, managing complex logistics for decentralized CAR-T therapy, and reliance on outcomes of current clinical trials to determine future project directions.

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