Next up: Galapagos, Gilead turn to second IPF program, Toledo molecules after $5B deal’s third setback

A third setback for the $5 billion Galapagos-Gilead deal will now see the partners turn their attention to another fibrosis candidate and a Toledo program that targets salt-inducible kinases.

Galapagos N.V. (Euronext:GLPG; NASDAQ:GLPG) shed nearly $1.3 billion in market cap Wednesday, falling $19.41 (18%) to $89.90 after announcing that the partners would discontinue two Phase III ISABELA trials of ENPP2 inhibitor ziritaxestat (GLPG1690) to treat idiopathic pulmonary fibrosis (IPF) after an independent data monitoring committee concluded the benefit-risk profile supported stopping the studies. On Euronext, the stock slid 19% to €73.38...