Here's Why Galapagos NV Rose 34.5% in July
Shares of Galapagos NV (NASDAQ: GLPG) jumped more than 34% last month, according to data provided by S&P Global Market Intelligence. The run-up was catalyzed by news that the Belgian biopharma had forged a deeper collaboration with Gilead Sciences (NASDAQ: GILD) and hauled in a $5.1 billion investment in the process. The total consideration comprises a $3.95 billion cash payment and a $1.1 billion equity investment.
The announcement followed news in early July that Gilead Sciences was moving ahead with plans to file a new drug application (NDA) for filgotinib as a treatment for rheumatoid arthritis by the end of 2019. The drug candidate, co-developed with Galapagos, is also being studied in a phase 2 trial in men with moderately to severely active ulcerative colitis or Crohn's disease.
Galapagos ended the month by reporting first-half 2019 operating results underpinned by progress in the clinic.
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