Q: What does Galapagos do?
A: Galapagos (Euronext & NASDAQ: GLPG) is a late stage biotechnology company specialized in the discovery and development of small molecule therapies with novel modes-of-action. Galapagos is developing filgotinib, a highly selective JAK1 inhibitor in rheumatoid arthritis currently in Phase 2b studies in RA and Phase 2 in Crohn’s disease. The rest of Galapagos’ deep and maturing pipeline has clinical and pre-clinical programs in inflammation, cystic fibrosis, fibrosis, and metabolic disease. Through alliances with GlaxoSmithKline, 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 24 week data from DARWIN 1 with filgotinib in Q2 2015. DARWIN 2 topline results for 24 weeks in early Q3 2015. AbbVie will make its licensing decision on filgotinib based on 24 week data from both DARWIN 1 and DARWIN 2. Topline 10 week data with filgotinib in Crohn’s disease is expected to be disclosed in Q4 2015, with 20 week topline in Q1 2016.
Q: When was Galapagos founded?
A: Galapagos was founded in 1999 as a joint venture between Crucell (formerly IntroGene) and Tibotec. Galapagos went public on Euronext in 2005 and on NASDAQ in 2015. 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 and on the NASDAQ with the same symbol for both exchanges: GLPG. On Euronext, price forming takes place in a single order book in Amsterdam. The Bloomberg ticker for Galapagos is GLPG:NA and GLPG:US, and the Reuters ticker is GLPG-AE and GLPG-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 on Euronext in May 2005. Galapagos listed on NASDAQ in May 2015.
Q: How can I purchase Galapagos shares?
A: Galapagos’ ordinary shares and Level 3 ADRs are publicly traded and can be purchased through a securities broker or bank.
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. Results are reported in Euro.
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.
Q: Where are Galapagos ADRs traded and under what ticker?
Ratio: 1 ADR = 1 Ordinary Share
Underlying ISIN: BE0003818359
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 Citibank for more information.
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. 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 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 receive corporate action notifications from Citibank.
Q: Who is the depositary bank for Galapagos ADRs?
Q: Can I purchase ADRs directly from Galapagos?
A: No, this is not possible. Please contact your stockbroker 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.