- Single order book and price discovery to move from Brussels to Amsterdam
- Dual listing on Euronext Brussels and Euronext Amsterdam remains intact
- No impact on ISIN, GLPG ticker symbol, or settlement mechanics
MECHELEN, Belgium, March 21, 2014 (GLOBE NEWSWIRE) -- Galapagos NV (Euronext: GLPG) announced today that the market of reference will change from Euronext Brussels to Euronext Amsterdam, effective as of 28 March 2014. The change of market of reference means that orders in Galapagos' securities will be gathered and centrally administered in the single order book in Euronext Amsterdam.
The change of market of reference does not impact Galapagos' organization (including its Mechelen legal headquarters), its Belgian presence, or activities. Furthermore,Galapagos' dual listing on Euronext Brussels and Euronext Amsterdam, the ISIN (BE0003818359), the ticker symbol (GLPG), and clearing and settlement mechanics will all remain unchanged.
"Galapagos has been listed on Euronext Amsterdam and Euronext Brussels since the IPO in 2005. Since the implementation of the single order book in 2009, Galapagos' market of reference has been Euronext Brussels. The change of Market of Reference to Euronext Amsterdam is intended to bring Galapagos' exposure to Dutch investors more in line with the high level of exposure the Company has in Belgium," said Elizabeth Goodwin, Head of Corporate Communications and Investor Relations at Galapagos.
Market parties and information services will be informed in due course as the implementation is prepared. The target effective date for the change of market of reference is 28 March 2014.
Galapagos (Euronext: GLPG; OTC: GLPYY) is specialized in novel modes-of-action, with a large pipeline comprising five Phase 2 studies (two led by GSK), one Phase 1 study, six pre-clinical, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, antibiotics, metabolic disease, and other indications. In the field of inflammation, AbbVie and Galapagos signed a worldwide license agreement whereby AbbVie will be responsible for further development and commercialization of GLPG0634 after Phase 2B. GLPG0634 is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and potentially other inflammatory diseases, currently in Phase 2B studies in RA and in Phase 2 in Crohn's disease. Galapagos has another selective JAK1 inhibitor in Phase 2 in ulcerative colitis and psoriasis, GSK2586184 (formerly GLPG0778, in-licensed by GlaxoSmithKline in 2012). GLPG0974 is the first inhibitor of FFA2 to be evaluated clinically for the treatment of IBD; this program is currently in a Proof-of-Concept Phase 2 study. GLPG1205 is a first-in-class molecule that targets inflammatory disorders and has completed Phase 1. AbbVie and Galapagos signed an agreement in CF whereby they work collaboratively to develop and commercialize oral drugs that address two mutations in the CFTR gene, the G551D and F508del mutation. Potentiator GLPG1837 is at the pre-clinical candidate stage. Galapagos has 400 employees, operating from its Mechelen, Belgium headquarters and facilities in The Netherlands, France, and Croatia. Further information at: www.glpg.com
Elizabeth Goodwin, Head of Corporate Communications & Investor Relations
Tel: +31 6 2291 6240
This release may contain forward-looking statements, including, without limitation, statements containing the words "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "could," "stands to," and "continues," as well as similar expressions. Such forward-looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, financial condition, performance or achievements of Galapagos, or industry results, to be materially different from any historic or future results, financial conditions, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. Galapagos expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, unless required by law or regulation.