Galapagos(US:GLPG)2020-09-25 18:02Filgotinib Program - Filgotinib has the potential for 5 launches in the next 4 years across different disease areas[9] - In the FINCH 1 trial for RA patients with inadequate response to MTX, 76.6% of subjects achieved ACR20 response with Filgotinib 200 mg + MTX, a 26.7% increase compared to placebo + MTX (49.9%)[15] - In the FINCH 1 trial, radiographic progression was significantly reduced with Filgotinib 200 mg + MTX (mean mTSS change from baseline of 0.13) compared to placebo + MTX (0.38), representing a Δ -0.28[20] - In the SELECTION trial for UC, 200 mg of Filgotinib achieved EBS remission in 26.1% of biologic-naïve patients and 15.3% of biologic-experienced patients at week 10[42] - In the SELECTION trial for UC, 200 mg of Filgotinib achieved EBS remission in 37.2% of patients at week 58, a 26% increase compared to placebo[43] Pipeline and R&D - The company has >30 early programs and a novel target discovery engine[5] - The company has 4 Phase 1 programs and 7 preclinical candidate programs[7] - Topline data is expected in 2020 from SELECTION filgotinib Ph3 UC, PINTA '1205 Ph2a IPF, NOVESA ziritaxestat Ph2a SSc, and ROCCELLA '1972 Ph2b OA trials[6] Financials and Collaboration - The company has strong financials, including €5.6B in cash[5] - The Gilead-Galapagos R&D collaboration involves a 10-year collaboration, $3.95B upfront plus opt-in fees & milestones, $1.5B equity investment, and 20+% royalties[91] - The Gilead-Galapagos filgotinib collaboration includes up to $1.24B in additional milestones and 20-30% royalties outside the EU8[92]