Galapagos NV (GLPG) fell 7.39% to trade at $31.85, down $2.54, after announcing plans to wind down its cell therapy operations as part of a strategic transformation.
The company stated that the move follows an extensive review, which found no viable offers for the unit, and aims to refocus resources on its small-molecule programs and external innovation partnerships. The restructuring is expected to affect around 365 employees and result in estimated costs of €150-200 million in 2026 as Galapagos streamlines operations to improve long-term efficiency.
On Thursday, GLPG opened at $33.70, hit a high of $33.75 and a low of $31.60, compared to a previous close of $34.39 on the NasdaqGS. Trading volume reached 1.3 million shares, above the average of 0.4 million. The stock's 52-week range is $28.45 - $44.20.
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