Biotech Values

[DewDiligence]

GLPG’s Nasdaq shares are US-listed, but they are still ADSs—rather than “ordinary” shares—because they are not fungible with the GLPG shares in the home market (Amsterdam). A US bank acts as a repository for all of the ADSs, which simplifies administration for a foreign issuer.

The brokerage fee for “processing” an ADS may be negotiable; you have nothing to lose by asking your broker to waive it.