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GLPG

Galapagos NV

$73.17

-0.73 (-0.99%)

16:52
08/09/17
08/09
16:52
08/09/17
16:52

Galapagos: halts disease progression in IPF patients in FLORA Phase 2a trial

Galapagos announces positive topline results with its autotaxin inhibitor GLPG1690 in patients with idiopathic pulmonary fibrosis in the FLORA Phase 2a trial. FLORA was an exploratory, randomized, double-blind, placebo-controlled trial investigating a once-daily oral dose of GLPG1690. The drug candidate was administered for 12 weeks in 23 IPF patients, 17 of whom received GLPG1690 and 6 placebo. Primary objectives of the trial were to assess safety, tolerability, pharmacokinetics and pharmacodynamics of GLPG1690 in an IPF patient population. Secondary objectives included the evaluation of lung function, changes in disease biomarkers, FRI, and quality of life. The IPF diagnosis was confirmed by central reading. The baseline characteristics of the recruited population were in line with published data in similarly conducted studies and were balanced between active and placebo. Patients with previous experience on nintedanib or pirfenidone were required to have discontinued treatment with either agent for at least 4 weeks prior to initiating treatment with GLPG1690. Over the 12-week period, patients receiving GLPG1690 showed an FVC increase of 8 mL, while patients on placebo showed an FVC reduction of 87 mL (mean from baseline). Such reductions in FVC in the placebo arm were in line with expectations based on similarly conducted third-party studies in IPF patients. In addition to the demonstrated absence of lung function decline over the 12 week period, more sensitive functional respiratory imaging (FRI) confirmed disease stabilization in the GLPG1690 arm, versus disease progression in the placebo arm, reaching statistical significance on two specific parameters. Patients on GLPG1690 treatment showed a clear reduction of serum LPA18:2, a biomarker for autotaxin inhibition, as expected based on the mechanism of action of GLPG1690. Thus, the level of target engagement observed in Phase 1 with healthy volunteers was confirmed in IPF patients in FLORA. GLPG1690 was found to be generally well tolerated in this Phase 2 trial. Rates of discontinuation due to adverse events, as well as serious adverse event rates, were similar between patients on GLPG1690 and placebo. Galapagos plans to rapidly progress GLPG1690 in a late stage trial and had already discussions with regulators regarding trial design.

  • 10

    Aug

GLPG Galapagos NV
$73.17

-0.73 (-0.99%)

06/22/17
NOMU
06/22/17
NO CHANGE
Target $108
NOMU
Buy
Galapagos NV price target lowered to $108 from $121 at Nomura Instinet
Nomura Instinet analyst Christopher Marai lowered Glapagos' price target to $108 from $121 given the delay in the triple-combo study of its cystic fibrosis program. The analyst is now forecasting commercialization of the triple combo in 2022, versus 2021 previously, saying he continues to view the figotinib program is largely de-risked and maintains a Buy rating.
06/22/17
NOMU
06/22/17
NO CHANGE
Target $108
NOMU
Buy
Galapagos NV price target lowered to $108 from $121 at Nomura Instinet
Nomura Instinet analyst Christopher Marai noted that Galapagos revealed during an R&D day that it has pushed back the initiation of its cystic fibrosis triple-combo study to year end from mid-2017, which he believes will delay commercialization of the triple combo to 2022 from his prior 2021 forecast. Given the anticipated delay, he lowered his price target on Galapagos to $108 from $121, though he keeps a Buy rating as he feels CF program readouts may drive near-term upside.
04/24/17
04/24/17
DOWNGRADE
Target $73

Sell
Janney says Galapagos NV 'priced to perfection,' cuts two notches to Sell
As previously reported, Janney Capital analyst Debjit Chattopadhyay downgraded Galapagos NV (GLPG) to Sell from Neutral, stating that while the baricitinib setback suffered by competitors Incyte (INCY) and Eli Lilly (LLY) was "obviously great news," filgotinib is still more than 2 years from commercialization and over seven years away from peak sales. The majority of the positives are already reflected in the stock, even "generously" assuming peak sales for filgotinib above $3B, said Chattopadhyay, who has a $73 fair value estimate on Galapagos shares, which closed Friday at $85.84.
04/24/17
JANY
04/24/17
DOWNGRADE
JANY
Sell
Galapagos NV downgraded to Sell from Buy at Janney Capital

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