Barbet01 schreef op 25 augustus 2020 21:26:
To be honest I don’t believe that there would be any reason to cancel the partnership. I still believe Gilead is happy with Galapagos and vice-versa so I haven’t really thought of that.
Even without Filgotinib Galapagos has a great pipeline... risk/reward is very attractive now since the stock is currently valued at a bear case scenario in my opinion. There are several triggers to recover again and those are coming in in the next couple of weeks probably.
But Filgotinib still has potential:
in EU and Japan: so far so good.
in US: I await more information. I’m still thinking (hoping) the 100mg could be approved faster with a (class 1) resubmission but for now I’m just curious and awaiting their meeting “minutes” with FDA since the CRL. Worst case scenario for me is a US scenario where only 100mg will be approved but I think that the current stock valuation is taking worst case in account.
Rest of the pipeline: I already shared my thoughts about it and let’s not forget that 1972 received fast track status and 1690 orphan drug status which is positive to me, obviously IF good readouts.
I also think GLPG and Gilead CEO’s have a good relationship and that for now (with Gilead in the US lead) GLPG has the right to be some more demanding. They made a great deal, but the US case for Filgotinib is currently on intensive care and in my opinion for the most part that is because of Gilead. Nonetheless I think both companies are working out a path forward.
Long story short: I think Gilead may consider them very lucky with Galapagos as a great pipeline partner. When US approvals are achieved I believe Galapagos got a great partner with Gilead.
Doesn’t mean I’m not sceptical. Recent developments were tragic and communication could be (a lot) better (Onno his gesture here to shareholders is brilliant but he can’t say more than Gilead wants him to say. For the moment I just wait for more information. Obviously the sooner the better but most important is the content of the message.
Have a nice evening all.
PS. Rekyus AB. Altijd zeer interessante uiteenzettingen schrijf je.