Galapagos NV (GLPG)

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Galapagos NV (GLPG) expects to raise $161 million in an initial public offering (IPO) on Thursday, May 14th. The company will be issuing 3,800,000 shares at a price of $42.43 per share.

In the last 12 months, Galapagos NV generated $90 million in revenue and $33.2 million in net income.

Morgan Stanley, Credit Suisse and Cowen and Company acted as the underwriters for the IPO and Nomura and Bryan, Garnier were co-managers.

Galapagos NV provided the following description of their company for its IPO: “(Note: Not an IPO: Our ordinary shares are listed on Euronext Brussels and Euronext Amsterdam under the symbol ?GLPG.? On May 4, 2015, the last reported sale price of our ordinary shares on Euronext Amsterdam was ?38.05 per share, equivalent to a price of $42.43 per ADS, assuming an exchange rate of $1.1152 per euro" and on OTC under the symbol: "GLPYY.) Galapagos is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action, addressing disease areas of high unmet medical need. Execution on our proprietary drug target discovery platform has delivered a pipeline of three Phase 2 programs, two Phase 1 trials, five pre-clinical studies, and 20 discovery small-molecule and antibody programs. While our highly flexible platform offers applicability across a broad set of therapeutic areas, our most advanced clinical candidates are in inflammatory related diseases: rheumatoid arthritis, or RA; inflammatory bowel disease, or IBD; cystic fibrosis, or CF; and pulmonary disease, including idiopathic pulmonary fibrosis, or IPF. Our lead programs include GLPG0634, or filgotinib, in three Phase 2b trials for RA (DARWIN trials) and one Phase 2 trial for Crohn?s disease, or CD (FITZROY trial); GLPG1205 in a Phase 2a trial for ulcerative colitis, or UC (ORIGIN trial); GLPG1690, for which we expect to conduct a Phase 2a trial for IPF; and a series of novel potentiators and correctors for CF in Phase 1 and in pre-clinical stages. Almost exclusively, these programs are derived from our proprietary target discovery platform and, we believe, represent potential best-in-class treatments.”.

Galapagos NV was founded in 1999 and has 417 employees. The company is located at Generaal De Wittelaan L11 A3, 2800 Mechelen, Belgium and can be reached via phone at [phone] or on the web at www.glpg.com.

http://www.dakotafinancialnews.com/galapagos-nv-plans-161-million-ipo-for-may-14th-glpg/157179/