• Galapagos published its annual report on Form 20-F for the fiscal year ended Dec. 31, 2025, reporting net profit of EUR 320.9 million and basic and diluted earnings per share of EUR 4.87.
• Total net revenues rose more than quadrupled to EUR 1.11 billion, driven by collaboration revenues that rose more than quadrupled to EUR 1.08 billion due to EUR 1.07 billion of recognized non-refundable upfront payments and license fees tied to the Gilead drug discovery platform under the OLCA.
• R&D expenses increased 37% to EUR 459.42 million, reflecting higher spending on cell therapy programs and restructuring costs.
• The company recorded an impairment of cell therapy activities of EUR 228.11 million and said it expects to incur operating losses for the foreseeable future following the 2025 recognition of the full deferred revenue liability related to the OLCA.
• Management said it plans to wind down cell therapy activities, with about 365 employees impacted and sites in Leiden, Basel, Princeton, Pittsburgh and Shanghai to be closed, while cash and cash equivalents were EUR 87.9 million and financial investments were EUR 2.91 billion at year-end.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Galapagos NV published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-035163), on March 26, 2026, and is solely responsible for the information contained therein.