Replies to post #219879 on Biotech Values

[DewDiligence]

GLPG sells 2.96M ADSs @$116.50—a 3% discount to yesterday’s lose:

https://globenewswire.com/news-release/2018/09/13/1570182/0/en/Galapagos-raises-300-million-gross-proceeds-in-a-U-S-public-offering.html

*Assuming exercise of underwriter’s option.

[DewDiligence]

ABBV, GLPG restructure CF collaboration:

https://www.prnewswire.com/news-releases/abbvie-to-assume-full-development-and-commercial-control-of-cystic-fibrosis-research-program-300737382.html

Under a revised definitive agreement approved by both companies, AbbVie will assume full development and commercial responsibility over the investigational program comprising several clinical and pre-clinical compounds originally discovered and developed jointly by AbbVie and Galapagos.

Galapagos will not pursue further research and development in CF, but is eligible for future milestones and royalties on commercialized programs. Galapagos retains the right to future development of GLPG-2737 in non-CF indications. AbbVie is eligible to receive undisclosed future milestones and royalties in non-CF indications.

[DewDiligence]

...I have been suggesting for some time that the two companies are not seeing eye-to-eye on the development path.

Nice call.