Galapagos: Crohn’s 10w data out, deal should be nextBUY, Fair Value EUR52 (+16%)
Galapagos reported positive results from the FITZROY phase IIb study evaluating efficacy of filgotinib. At 10 weeks (i.e. first part of the trial) the study met the primary endpoint with 48% of patients in the filgotinib arm achieving in clinical remission vs. 23% in the placebo group (p=0.0067). Safety profile of filgotinib is consistent with what was previously seen in RA trials. This bodes well with a re-partnership scenario which might occur very soon, while in the medium term, the CF pipeline should support positive momentum.