Galapagos NV (GLPG)

Galapagos NV plans to gradually discontinue its cell therapy activities after a strategic evaluation, aiming to improve operational efficiency and pursue new business development opportunities. The decision may impact approximately 365 employees across Europe, US, and China.

Galapagos NV plans to split its operations into two entities - SpinCo and the core Galapagos company. SpinCo will focus on developing innovative medicines through strategic deals, while Galapagos will focus on its global cell therapy leadership in oncology. The restructuring will result in job cuts and reduced annual cash burn.

Belgian stocks closed higher on Monday, with the BEL 20 index rising 1.37%. The top performers were Galapagos NV, UCB SA, and D'Ieteren NV, while Proximus NV, Aperam SA, and Argen-X declined.

The heavy selling pressure might have exhausted for Galapagos (GLPG) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

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