February 23, 2018 / 7:18 AM / 8 months ago

BRIEF-Galapagos FY Net Result Swings To Loss Of 115.7 Million Euros

Feb 23 (Reuters) - GALAPAGOS:

* REPORTED ON THURSDAY FY NET LOSS OF €115.7 MILLION, COMPARED TO NET PROFIT OF €54.0 MILLION IN 2016

* FY GROUP REVENUES INCREASED BY €4.3 MILLION TO €155.9 MILLION

* FY OPERATING LOSS INCREASED BY €78.3 MILLION TO €89.8 MILLION

* FY OPERATIONAL CASH BURN OF €154.1 MILLION

* CASH BALANCE INCREASED BY €171.5 MILLION TO €1,152.4 MILLION AT YEAR-END

* IN 2018 AIMS TO REPORT TOPLINE RESULTS WITH THE FINCH 2 (RHEUMATOID ARTHRITIS), EQUATOR (PSORIATIC ARTHRITIS), TORTUGA (ANKYLOSING SPONDILITIS) FILGOTINIB TRIALS AS WELL AS A DECISION TO CONTINUE TO PHASE 3 IN SELECTION (ULCERATIVE COLITIS)

* IN 2018 COLLABORATION PARTNER GILEAD EXPECTS TO COMPLETE RECRUITMENT OF FINCH 1 AND FINCH 3, THE REMAINING RA PHASE 3 TRIALS WITH FILGOTINIB

* IN 2018 IN CYSTIC FIBROSIS WE ANTICIPATE THE READOUT OF THE PELICAN PATIENT TRIAL AND AN INTERIM READOUT IN FALCON

* IN 2018 AIMS TO INITIATE PIVOTAL TRIALS WITH GLPG1690 (IPF) AND PHASE 2 TRIALS WITH GLPG1205 (IPF), AN ADDITIONAL CF TRIPLE COMBINATION, GLPG1972 (OSTEOARTHRITIS), AND MOR106 (ATOPIC DERMATITIS)

* EXPECTS AN OPERATIONAL CASH BURN BETWEEN €220 AND €240 MILLION IN 2018

Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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