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Annual Report 2025

The Galapagos Shares in 2025

Galapagos NV (ticker: GLPG) has been listed on Euronext Amsterdam and Brussels since May 6, 2005 and on the Nasdaq Global Select Market since May 14, 2015. In 2025, Galapagos NV was part of the BEL Mid index (Brussels Midcap-index) on Euronext Brussels, the AMX Index (Amsterdam Midcap-index) on Euronext Amsterdam, and the NBI (Nasdaq Biotechnology Index) on Nasdaq in New York.

The Galapagos Share in 2025

The Galapagos Share in 2025 (graphic)

In 2025, the average daily trading volume on Euronext was 116,929 shares and €3.0 million turnover. The daily trading volume on Nasdaq in 2025 was 270,988 American Depository Shares (ADSs) and $7.7 million turnover.

Galapagos vs Next Biotech Index in 2025

Galapagos vs Next Biotech Index in 2025 (graphic)

Galapagos vs Nasdaq Biotechnology Index in 2025

Galapagos vs Nasdaq Biotechnology Index in 2025 (graphic)

Investor Relations Activities

16 analysts cover the Galapagos stock.

Our IR team participated in 6 investor conferences in Europe and the U.S. in 2025. Several broker-organized and self-organized roadshows and (virtual) meetings were held throughout the U.S. and Europe, during which we held approximately 145 investor meetings. We organized webcasts to present our 2025 Full Year, and our 2025 Q1, and Q3 results.

The main topics of discussion with investors in 2025 included the Company’s intention to separate into two publicly traded entities as announced at the beginning of 2025 and an update later in H1 2025 regarding the Company’s decision to subsequently pursue all strategic alternatives for the cell therapy activities, oncology data presented at EHA, ICML and ASH and the FDA RMAT designation granted to GLPG5101, the Company’s intent to wind down the cell therapy activities, immunology data presented at ACR, news related to leadership and Board appointments and departures, the strategic transformation and new strategic focus.

Our major shareholders as of December 31, 2025, are provided in the chart below:

Our major shareholders as of December 31, 2025 (graphic)
Cell therapy
Cell therapy aims to treat diseases by restoring or altering certain sets of cells or by using cells to carry a therapy through the body. With cell therapy, cells are cultivated or modified outside the body before being injected into the patient. The cells may originate from the patient (autologous cells) or a donor (allogeneic cells)
FDA
The U.S. Food and Drug Administration is an agency responsible for protecting and promoting public health and in charge of American market approval of new medications
GLPG5101
A second generation anti-CD19/4-1BB CAR-T product candidate currently in Phase 1/2 study in R/R/ NHL
Immunology
The study of the immune system and is a very important branch of the medical and biological sciences. The immune system protects humans from infection through various lines of defence. If the immune system is not functioning as it should, it can result in disease, such as autoimmunity, allergy, and cancer
Oncology
Field of medicine that deal with the diagnosis, treatment, prevention, and early detection of cancer