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BRIEF-Galapagos 2016 net result turns to profit of EUR 54.0 mln
February 24, 2017 / 8:50 AM / 8 months ago

BRIEF-Galapagos 2016 net result turns to profit of EUR 54.0 mln

Feb 24(Reuters) - Galapagos NV:

* 2016 revenues increased by 91.0 million euros ($96.41 million) to 151.6 million euros

* 2016 operating loss reduced by 77.9 million euros to 11.5 euros million

* 2016 net profit of 54.0 million euros, compared to a net loss of 118.4 million euros in 2015

* 2016 cash balance increased by 632.7 million euros to 980.9 million euros at year-end

* Starts three Phase 3 studies with Filgotinib

* Expects an operational use of cash of 135-155 million euros during 2017

Source text for Eikon:

Further company coverage: ($1 = 0.9439 euros) (Gdynia Newsroom)

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