Galapagos NV Files 20-F Annual Report for Fiscal Year 2023

Ticker: GLPGF · Form: 20-F · Filed: Mar 28, 2024 · CIK: 1421876

Galapagos NV 20-F Filing Summary
FieldDetail
CompanyGalapagos NV (GLPGF)
Form Type20-F
Filed DateMar 28, 2024
Risk Level
Pages15
Reading Time18 min
Key Dollar Amounts$
Sentimentneutral

Sentiment: neutral

Topics: Galapagos NV, 20-F, Annual Report, Pharmaceuticals, SEC Filing

TL;DR

<b>Galapagos NV submitted its 2023 annual report on Form 20-F, detailing its financial performance and business operations.</b>

AI Summary

GALAPAGOS NV (GLPGF) filed a Foreign Annual Report (20-F) with the SEC on March 28, 2024. Galapagos NV filed its 20-F annual report for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company is registered under the 1934 Act with SEC file number 001-37384. Galapagos NV is classified under SIC code 2834 for Pharmaceutical Preparations. The report was filed on March 28, 2024.

Why It Matters

For investors and stakeholders tracking GALAPAGOS NV, this filing contains several important signals. The 20-F filing provides a comprehensive overview of Galapagos NV's financial health and strategic direction for the fiscal year 2023, crucial for investors assessing the company's standing. This annual report is a key regulatory requirement for foreign private issuers like Galapagos NV, offering transparency into their operations and financial statements for the SEC and the investment community.

Risk Assessment

Risk Level: — GALAPAGOS NV shows moderate risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant new financial or operational data that would alter the risk profile.

Analyst Insight

Review the detailed financial statements and business segment information within the 20-F filing to understand Galapagos NV's performance and strategic priorities for 2023.

Financial Highlights

debt To Equity
0.00027
revenue
234384000
operating Margin
62003000
total Assets
20090000
total Debt
26503000
net Income
20544000
eps
P17Y
gross Margin
52131000
cash Position
36628000
revenue Growth
P10Y

Key Numbers

  • 2023-12-31 — Reporting Period End Date (Conformed Period of Report)
  • 2024-03-28 — Filing Date (Filed As Of Date)
  • 226 — Public Document Count (Document Count)
  • 001-37384 — SEC File Number (SEC File Number)

Key Players & Entities

  • GALAPAGOS NV (company) — Filer
  • 20-F (document) — Form Type
  • 2024-03-28 (date) — Filed As Of Date
  • 2023-12-31 (date) — Conformed Period of Report
  • 0001558370-24-004242 (filing) — Accession Number
  • 0001421876 (company) — Central Index Key
  • 2834 (industry) — Standard Industrial Classification
  • 001-37384 (filing) — SEC File Number

FAQ

When did GALAPAGOS NV file this 20-F?

GALAPAGOS NV filed this Foreign Annual Report (20-F) with the SEC on March 28, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by GALAPAGOS NV (GLPGF).

Where can I read the original 20-F filing from GALAPAGOS NV?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by GALAPAGOS NV.

What are the key takeaways from GALAPAGOS NV's 20-F?

GALAPAGOS NV filed this 20-F on March 28, 2024. Key takeaways: Galapagos NV filed its 20-F annual report for the fiscal year ended December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company is registered under the 1934 Act with SEC file number 001-37384..

Is GALAPAGOS NV a risky investment based on this filing?

Based on this 20-F, GALAPAGOS NV presents a moderate-risk profile. The filing is a standard annual report (20-F) and does not contain immediate, significant new financial or operational data that would alter the risk profile.

What should investors do after reading GALAPAGOS NV's 20-F?

Review the detailed financial statements and business segment information within the 20-F filing to understand Galapagos NV's performance and strategic priorities for 2023. The overall sentiment from this filing is neutral.

How does GALAPAGOS NV compare to its industry peers?

Galapagos NV operates within the pharmaceutical preparations industry, focusing on drug discovery and development.

Are there regulatory concerns for GALAPAGOS NV?

As a foreign private issuer, Galapagos NV is subject to SEC regulations, including the requirement to file annual reports on Form 20-F.

Industry Context

Galapagos NV operates within the pharmaceutical preparations industry, focusing on drug discovery and development.

Regulatory Implications

As a foreign private issuer, Galapagos NV is subject to SEC regulations, including the requirement to file annual reports on Form 20-F.

What Investors Should Do

  1. Analyze the financial statements for revenue, net income, and debt-to-equity ratios.
  2. Review the business overview and risk factors for strategic insights and potential challenges.
  3. Note the filing date and reporting period for accurate context of the financial data.

Key Dates

  • 2023-12-31: Fiscal Year End — End of reporting period for the 20-F filing.
  • 2024-03-28: Filing Date — Date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational data compared to previous filings.

Filing Stats: 4,451 words · 18 min read · ~15 pages · Grade level 16.5 · Accepted 2024-03-28 16:02:22

Key Financial Figures

  • $ — ll references in this annual report to "$," "US$," "U.S.$," "U.S. dollars," "doll

Filing Documents

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 219 Item 12

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 221 A. Debt Securities 221 B. Warrants and Rights 221 C. Other Securities 221 D. American Depositary Shares 221 PART II 224 Item 13 Defaults, Dividend Arrearages and Delinquencies 224 Item 14 Material Modifications to the Rights of Security Holders and Use of Proceeds 224 Item 15

Controls and Procedures

Controls and Procedures 224 Item 16 Reserved 226 Item 16A Audit Committee Financial Expert 226 Item 16B Code of Ethics 226 Item 16C Principal Accountant Fees and Services 227 Item 16D Exemptions from the Listing Standards for Audit Committees 228 Item 16E Purchases of Equity Securities by the Issuer and Affiliated Purchasers 228 Item 16F Change in Registrant's Certifying Accountant 228 Item 16G Corporate Governance 228 Item 16H Mine Safety Disclosure 231 Item 16I Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 231 Item 16J Insider Trading Policies 231 Item 16K Cybersecurity 231 PART III 232 Item 17

Financial Statements

Financial Statements 232 Item 18

Financial Statements

Financial Statements 232 Item 19 Exhibits 232

SIGNATURES

SIGNATURES EXHIBIT INDEX ii Table of Contents INTRODUCTION Unless otherwise indicated or unless the context requires otherwise, "GLPG," "the company," "our company," "we," "us," and "our" refer to Galapagos NV and its consolidated subsidiaries. We own various trademark registrations and applications, and unregistered trademarks, including GALAPAGOS, JYSELECA (in the European countries where we commercialize filgotinib), and our corporate logo. All other trade names, trademarks and service marks referred to in this annual report on Form 20-F, or this annual report, are the property of their respective owners. Trade names, trademarks and service marks of other companies appearing in this annual report are the property of their respective holders. Solely for convenience, the trademarks and trade names in this annual report may be referred to without the and symbols, but such references should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend to use or display other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies. Our audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB. Our consolidated financial statements are presented in euros. All references in this annual report to "$," "US$," "U.S.$," "U.S. dollars," "dollars," and "USD" mean U.S. dollars and all references to "" and "euros" mean euros, unless otherwise noted. Throughout this annual report, references to "ADSs" mean American Depositary Shares or ordinary shares represented by American Depositary Shares, as the case may be. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This annual report contains forward-looking statements within the meaning of Section 27A of the

Identity of directors, senior management and advisers

Item 1 Identity of directors, senior management and advisers Not applicable.

Offer statistics and expected timetable

Item 2 Offer statistics and expected timetable Not applicable.

Key information

Item 3 Key information A. Reserved B. Capitalization and indebtedness Not applicable. C. Reasons for the offer and use of proceeds Not applicable. D. Risk factors Our business is subject to significant risks. You should carefully consider all of the information set forth in this annual report and in our other filings with the U.S. Securities and Exchange Commission, or the SEC, including the following risk factors which we face, and which are faced by our industry. Our business, financial condition, or results of operations could be materially adversely affected by any of these risks. This report also contains forward-looking statements that involve risks and uncertainties. Our results could materially differ from those anticipated in these forward-looking statements, as a result of certain factors including the risks described below and elsewhere in this annual report and our other SEC filings. See "Special Note Regarding Forward-Looking Statements" above. Risks related to product development and regulatory approval We are dependent on the success of our clinical-stage product candidates, including our oncology candidates (such as GLPG5101, GLPG5201, and GLPG5301) and our immunology candidates (such as GLPG3667). We cannot give any assurance that any product candidate will complete clinical trials successfully or receive regulatory approval, which is necessary before it can be commercialized. Our business and future success is substantially dependent on our ability to develop successfully, obtain regulatory approval for, and then successfully commercialize our clinical-stage oncology and immunology product candidates, including GLPG5101, GLPG5201, GLPG5301 and GLPG3667. 4 Table of Contents Our product candidates will require additional clinical development, management of clinical and manufacturing activities, regulatory approval in multiple jurisdictions (if regulatory approval can be obtained at all), securing sources of commercial manufacturing s

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