Galapagos' filgotinib clears Phase II Crohn's hurdle

Galapagos N.V. (Euronext:GLPG; NASDAQ:GLPG) said filgotinib ( GLPG0634) met the primary endpoint in an interim analysis of the Phase II FITZROY study to treat Crohn's disease. CEO Onno van de Stolpe said on a conference call that by year end Galapagos expects to find a new partner for the Janus kinase-1 (JAK-1) inhibitor to replace AbbVie Inc. (NYSE:ABBV).

On Tuesday, Galapagos gained $6.97 (15%) to $54.93 on NASDAQ and rose EUR 5.99 (13%) to EUR 50.77 on Euronext. Its shares have regained more than half the value they lost after AbbVie declined its option in September (see BioCentury Extra, Sept. 25). ...