At a glance

At a glance
Galapagos NV • Q1 Report 2019

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Consolidated Key Figures

(thousands of €, if not stated otherwise)

Three months ended 31 March 2019

Three months ended 31 March 2018

Full year 2018

(1)

Our assets, shareholders’ equity, other liabilities, cash flow used in operating activities and cash flow generated in financing activities for the period ended 31 March 2019 were influenced by the adoption of the new standard IFRS 16 – Leases, on 1 January 2019. We refer to the notes of this condensed consolidated interim financial report for additional information.

(2)

The operational cash burn (or operational cash flow if this performance measure is positive) is equal to the increase or decrease in our cash and cash equivalents (excluding the effect of exchange rate differences on cash and cash equivalents), minus:
(i)the net proceeds, if any, from share capital and share premium increases included in the net cash flows generated / used (-) in financing activities(ii)the net proceeds or cash used, if any, in acquisitions or disposals of businesses; and the movement in restricted cash, if any, included in the net cash flows generated / used (-) in investing activities.

 

This alternative performance measure is in our view an important metric for a biotech company in the development stage.

 

 

 

 

Income statement

 

 

 

Revenues

33,047

37,907

288,836

Other income

7,872

6,931

29,009

R&D expenditure

(83,195)

(69,765)

(322,875)

S, G&A expenses

(10,966)

(7,110)

(39,776)

Operating expenses

(94,161)

(76,875)

(362,652)

Operating loss

(53,242)

(32,036)

(44,807)

Net financial results

4,655

(5,184)

15,598

Taxes

(68)

(62)

(50)

Net loss

(48,656)

(37,283)

(29,259)

 

 

 

 

Balance sheet

 

 

 

Cash and cash equivalents

1,222,901

1,108,186

1,290,796

R&D incentives receivables

87,674

80,870

84,646

Assets(1)

1,400,200

1,229,864

1,439,496

Shareholders' equity(1)

1,175,755

899,345

1,214,249

Deferred income

123,822

268,654

149,801

Other liabilities(1)

100,624

61,865

75,446

 

 

 

 

Cash flow

 

 

 

Operational cash burn(2)

(76,344)

(41,354)

(158,384)

Cash flow used in operating activities(1)

(71,698)

(39,804)

(142,466)

Cash flow used in investing activities

(3,398)

(1,531)

(15,914)

Cash flow generated in financing activities(1)

2,233

3,905

287,876

Increase / decrease (-) in cash and cash equivalents

(72,863)

(37,430)

129,497

Effect of currency exchange rate fluctuation on cash and cash equivalents

4,968

(5,595)

10,089

Cash and cash equivalents at the end of the period

1,222,901

1,108,186

1,290,796

 

 

 

 

Financial ratios

 

 

 

Number of shares issued at the end of the period

54,614,791

51,234,962

54,465,421

Basic and diluted loss per share (in €)

(0.89)

(0.73)

(0.56)

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

103.90

81.30

80.56

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

779

634

725
Employees per site as of 31 March 2019

Employees per site (graphic)