At a glance

At a glance
Galapagos NV • Q3 Report 2018

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Consolidated Key Figures

(thousands of €, if not stated otherwise)

 

 

 

 

 

(*)

Our revenues, shareholders' equity and deferred income for the third quarter of 2018 and the nine months ended 30 September 2018 were influenced by the adoption of the new standard IFRS 15 – Revenue from contracts with customers, on 1 January 2018. We refer to the notes of this interim consolidated financial report for additional information.

(**)

The operational cash burn (or operational cash flow if this performance measure is positive) is equal to the sum of the net cash flows generated / used (–) in operating activities and the net cash flows generated / used (–) in investing activities minus (i) the proceeds or cash used, if any, in acquisitions or disposals of businesses; and (ii) the movement in restricted cash, if any. This alternative performance measure is in our view an important metric for a biotech company in the development stage.

Income statement

Third quarter of 2018

Third quarter of 2017

Nine months ended 30 September 2018

Nine months ended 30 September 2017

Full year 2017

Revenues(*)

94,874

26,945

182,457

87,870

127,087

Other income

8,334

6,378

22,623

18,484

28,830

R&D expenditure

(80,314)

(56,313)

(231,758)

(149,226)

(218,502)

S, G&A expenses

(10,623)

(6,661)

(26,837)

(19,681)

(27,218)

Operating expenses

(90,937)

(62,974)

(258,595)

(168,907)

(245,720)

Operating gain / loss (–)

12,271

(29,651)

(53,515)

(62,552)

(89,802)

Net financial results

2,091

(6,888)

8,958

(23,142)

(25,705)

Taxes

480

(69)

343

(161)

(198)

Net gain / loss (–)

14,841

(36,608)

(44,215)

(85,855)

(115,704)

 

 

 

 

 

 

Balance sheet

 

 

 

 

 

Cash and cash equivalents

1,343,668

1,218,856

1,343,668

1,218,856

1,151,211

R&D incentives receivables

80,447

76,153

80,447

76,153

75,783

Assets

1,485,551

1,331,373

1,485,551

1,331,373

1,286,274

Shareholders' equity(*)

1,188,222

1,036,932

1,188,222

1,036,932

1,011,983

Deferred income(*)

209,742

238,431

209,742

238,431

219,892

Other liabilities

87,587

56,009

87,587

56,009

54,399

 

 

 

 

 

 

Cash flow

 

 

 

 

 

Operational cash burn(**)

(5,571)

(35,700)

(100,574)

(89,078)

(154,089)

Cash flow generated in financing activities

281,181

245

286,435

353,018

353,357

Effect of currency exchange rate fluctuation on cash and cash equivalents

1,292

(7,670)

6,596

(24,777)

(27,808)

Increase / decrease (–) in cash and cash equivalents

276,901

(43,205)

192,456

245,615

177,970

Cash and cash equivalents at the end of the period

1,343,668

1,218,856

1,343,668

1,218,856

1,151,211

 

 

 

 

 

 

Financial ratios

 

 

 

 

 

Number of shares issued at the end of the period

54,299,136

50,895,778

54,299,136

50,895,778

50,936,778

Basic gain / loss (–) per share (in €)

0.29

(0.73)

(0.86)

(1.75)

(2.34)

Diluted gain / loss (–) per share (in €)

0.28

(0.73)

(0.86)

(1.75)

(2.34)

Share price at the end of the period (in €)

97.42

86.19

97.42

86.19

78.98

Total group employees at the end of the period (number)

712

578

712

578

600
Employees per site as of 30 September 2018

Employees per site (graphic)