Galapagos follows positive RA data with $300M round
On the heels of positive Phase III data for rheumatoid arthritis therapy filgotinib, Galapagos N.V. (Euronext:GLPG; NASDAQ:GLPG) raised $300 million through the sale of 2.6 million ADSs at $116.50 on NASDAQ. Morgan Stanley, Citigroup, Kempen & Co., Nomura and Stifel are underwriters.
On Tuesday, Galapagos and Gilead Sciences Inc. (NASDAQ:GILD) said both once-daily 100 and 200 mg doses of filgotinib met the primary endpoint of improving ACR20 response rate at week 12 vs. placebo in the Phase III FINCH 2 trial to treat moderate to severe RA (57.5% and 66%, respectively, vs. 31.1%, p<0.001 for both). Filgotinib is an oral Janus kinase-1 (JAK-1) inhibitor (see "Filgotinib Meets in Phase III FINCH 2 Study for RA")...
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