Galapagos Q1 EPS €1.40 Vs €0.40 YoY; Revenue €62.4 Million Vs €58.6 Million YoY
Portfolio Pulse from Benzinga Newsdesk
Galapagos reported a Q1 EPS of €1.40, up from €0.40 YoY, with revenue increasing to €62.4 million from €58.6 million. The company saw a total operating loss of €33.1 million, an increase from a loss of €14.2 million YoY. R&D expenses rose to €71.6 million due to higher costs in CAR-T and small molecule programs. G&A and S&M expenses also increased to €30.8 million. Net financial income significantly increased to €56.0 million, mainly due to unrealized currency exchange gains and higher interest income. Net profit from continuing operations was €23.5 million, a significant improvement from a net loss of €11.2 million YoY.
May 02, 2024 | 8:37 pm
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Galapagos reported a significant improvement in Q1 earnings with EPS rising to €1.40 from €0.40 YoY and revenues increasing to €62.4 million from €58.6 million. The company turned a net profit of €23.5 million from a net loss, despite higher operating losses and R&D expenses.
The significant improvement in EPS and the shift from a net loss to a net profit indicate a strong financial performance for Galapagos, likely leading to a positive short-term impact on its stock price. The increase in revenues and successful management of R&D and operational expenses further support this outlook.
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