FAQs

Q: What does Galapagos do?
A: Galapagos (Euronext: GLPG; OTC: GLPYY) is a mid-size biotechnology company specialized in the discovery and development of small molecule therapies with novel modes-of-action. Galapagos is developing GLPG0634, a potential best-in-class JAK1 inhibitor in rheumatoid arthritis currently in Phase 2 studies in RA and Crohn’s disease. The rest of Galapagos’ deep and maturing pipeline has clinical and preclinical programs in inflammation, anti-infectives, orphan disease, and oncology. Through risk/reward-sharing alliances with GlaxoSmithKline, Janssen Pharmaceutica, Servier, and AbbVie, Galapagos is eligible to receive downstream milestones plus royalties on successful R&D programs. The Galapagos Group has about 400 employees and operates facilities in four countries, with global headquarters in Mechelen, Belgium.

Q: When will the next important patient data readouts be?
A: Galapagos expects to report topline 12 week data from DARWIN 1 with GLPG0634 in Q1 2015, with 24 week data coming in Q2 2015.  DARWIN 2 topline results for 12 weeks are expected in Q2 2015, 24 week in Q3 2015.  AbbVie will make its licensing decision on GLPG0634 based on 24 week data from both DARWIN 1 and DARWIN 2.  Topline 10 weeks data with GLPG0634 in Crohn’s disease is expected to be disclosed in Q1 2015, with 20 week topline in Q2 2015. 

Q: When was Galapagos founded?
A: Galapagos was founded in 1999 as a joint venture between Crucell (formerly IntroGene) and Tibotec. Galapagos went public in 2005.  Please see Company History for more on this.

Q: On which stock markets is Galapagos listed?
A: Galapagos is listed on Euronext Brussels and Euronext Amsterdam (ticker: GLPG), with a single Euronext order book being formed in Amsterdam.  The Bloomberg ticker for Galapagos is GLPG NA and Reuters ticker is GLPG AE.  Galapagos also has a company-sponsored Level 1 ADR facility on the Pink Sheets (GLPYY) over the counter in the US.

Q: Which market authority supervises Galapagos?
A: Galapagos falls under authority of the Belgian FSMA and the Dutch AFM, with the Belgian FSMA having the lead responsibility.  Short positions are reported to the FSMA.

Q: Why is Galapagos listed on two Euronext exchanges?

A: Galapagos has operations in Belgium and the Netherlands, and considers it important to have direct access to the financial community in these countries in regard to (future) funding of the growth of the company.

Q: When did Galapagos become a publicly listed company?
A: Galapagos became a listed company in May 2005.

Q: How can I purchase Galapagos shares?
A: Galapagos’ ordinary shares and Level 1 ADRs are publicly traded and can be purchased through a securities broker or bank.

Q. How do I trade my Crest Depositary Interests (CDIs)?
A. Your CDIs can be traded on Euronext via a routine cross-border transaction. Your broker/financial adviser should be able to facilitate such a transaction.

Q: Who are Galapagos’ shareholders?
A: Galapagos has a mix of private and institutional investors, primarily in Europe and the US. For more information about our largest shareholders, please refer to their Transparency Notifications.

Q: Where can I get financial information about Galapagos?
A: You can receive up-to-date information from the Investor Center section of the Galapagos website or by contacting Galapagos’ Investor Relations team.

Q: By which accounting standards does Galapagos report?
A: Galapagos reports under IFRS (International Financial Reporting Standards) accounting standards.

Q: What is Galapagos’ fiscal year?
A: January 1st to December 31st

Q: What is the date of Galapagos’ next results announcement?
A: Please refer to Galapagos’ financial calendar.

Q: Who is Galapagos’ independent auditor?
A: Deloitte Partners, based in Brussels, Belgium

Q: Which analysts follow Galapagos?
A: Please refer to the analysts section of the website.

Q: How many outstanding shares does Galapagos have?
A: Please refer to the share capital section of the website.

Q: Is there trading in options in the Galapagos share?

A: Euronext Liffe initiated trading in options for the Galapagos ordinary share on 30 April 2013, under the ticker symbol GLS.


Galapagos’ ADR facility

Since 2008 Galapagos has a Level I American Depositary Receipt (ADR) facility managed by The Bank of New York Mellon.

Q: Where are Galapagos ADRs traded and under what ticker?

Symbol: GLPYY
CUSIP: 36315X101
Ratio: 1 ADR = 1 Ordinary Share
Underlying ISIN: BE0003818359
Exchange: US OTC “Pink Sheets” (pinksheets.com)

Q: Can I buy Galapagos ADRs through a broker just as I would buy U.S. securities?

A: Yes. Should your broker have any questions about the issuance of new ADRs, please have him contact:

Mr Jason Paltrowitz
Bank of New York Mellon
Tel: +1 212 815 2077
Fax: +1 212 571 3050
E-mail: jpaltrowitz@bankofny.com


Q: How do I convert my ordinary shares into ADRs?

A: Converting ordinary shares into ADRs must be done through a broker or an investment advisor. Should your broker have questions about this conversion process, please have him contact Bank of New York Mellon’s Issuance Department main desk: +1 212 815 4727.

Q: What is an American Depositary Receipt?
A: An ADR is a negotiable U.S. certificate representing ownership of shares in a non-U.S. corporation. ADRs are quoted and traded in U.S. dollars in the U.S. securities market. Also, the dividends are paid to investors in U.S. dollars. ADRs were specifically designed to facilitate the purchase, holding and sale of non-U.S. securities by U.S. investors, and to provide a corporate finance vehicle for non-U.S. companies. ADRs can be held in book-entry form or as a physical certificate.

Q: What is a level I ADR?
A: Level I Depositary Receipts are traded in the U.S. OTC market with prices published in the "Pink Sheets" and on some exchanges outside the United States. Establishment of a Sponsored Level I program requires less extensive SEC registration and the company does not have to report its accounts under U.S. GAAP or provide full SEC disclosure. Essentially, a Sponsored Level I Depositary Receipt program allows companies to enjoy the benefits of a publicly traded security without changing the reporting process which complies with its home exchange outside the U.S.

Q: What are the benefits of ADRs to U.S. investors?
A: U.S. investors generally prefer to purchase ADRs rather than ordinary shares in the issuer’s home market because ADRs trade, clear and settle according to U.S. market conventions in U.S. dollars. One of ADRs’ main advantages is the facilitation of diversification into foreign securities. ADRs also allow easy comparison to securities of similar companies as well as access to price and trading information. ADR holders also appreciate dollar dividend payments (if applicable) and receiving corporate action notifications from the Bank of New York Mellon.

Q: Is it easy to get information and updates on an ADR company?
A: ADR issuers generally have full information in English about themselves on their websites, as well as on the main depositary bank websites, and are better tracked by the main U.S. financial websites.

Q: Who is the depositary bank for Galapagos ADRs?
A: The Bank of New York Mellon (BNYM). The depositary bank plays a key role in the process of issuance and cancellation of ADRs. It also maintains the ADR holder register and distributes the dividends in U.S. dollars. The Bank of New York Mellon is a DTC (Depositary Trust Company) participant as are brokers & dealers, other banks, trust companies and clearinghouses. For additional general information, please visit The Bank of New York Mellon's website at www.adrbny.com and search for Galapagos Profile Page. Registered holders wishing to access their account with The Bank of New York Mellon (BNYM acts as both ADR depositary bank & registrar) can contact:

The Bank of New York Mellon
Investor Services
P.O. Box 11258
Church Street Station
New York, NY 10286-1258
Toll Free Tel # for domestic callers:
1-888-BNYM-ADRs
International callers: +1 212-815-3700
Email: shareowners@bankofny.com


Q: Can I purchase ADRs directly from Galapagos?

A: No, this is not possible. Please contact your broker to purchase ADRs.

Q: How can I find out how many ADRs I have?
A: For those holders who are not registered because their ADRs are held through a "Street name" (nominee account), please contact your nominee for information on your ADR holdings.

Q: Do I always get an ADR certificate?
A: Your Galapagos ADR represents your ownership of shares in the company and the ADR can be held in certificate or book-entry form. If you hold your ADRs in certificate form these should be kept in a safe-deposit box or secure place. Certificates are negotiable documents and should be signed only in the event of a sale or transfer of ownership. If you hold your ADRs through a "Street Name" (nominee account) these will be in book-entry form and therefore you will not have an ADR certificate.

Q: What should I do if I lose an ADR certificate?
A: If your certificate is lost, stolen, or destroyed, notify The Bank of New York Mellon investor hotline +1-888-BNYM-ADRs / +1-888-269-2377. Please ensure you have your Social Security Taxpayer Identification number ready when calling.

Q: How do I change my address?
A: It is important that you inform The Bank of New York Mellon when you move so that your account records can be updated and correspondence can be sent to the right address.

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