Galapagos raises EU5.8 million through warrant exercises, Board and Executive Committee members invest
March 27 2015 - 2:34AM
Galapagos NV (Euronext: GLPG) announced today a share capital
increase arising from warrant exercises. Board members invest
€2.1 million in Galapagos by exercising warrants.
Since its inception in 1999, Galapagos has used warrant plans to
incentivize personnel and management and have them share in the
success of the company. Following warrant exercises during the
exercise period from 9 March 2015 through
22 March 2015, Galapagos issued 571,548 new ordinary
shares for a total capital increase (including issuance premium) of
€5,819,033.48.
CEO Onno van de Stolpe exercised 100,000 warrants to hold as
shares. Onno van de Stolpe currently holds 464,226 shares in
Galapagos, representing 1.5% of the outstanding Galapagos shares.
The Chairman of the Board of Directors, Dr Raj Parekh, exercised
75,000 warrants to hold as shares. In addition, Board members
Dr Werner Cautreels and Dr Harrold van Barlingen exercised 2,520
warrants and 7,500 warrants, respectively, also to hold as
shares. Together, the CEO and the other Board members invested
€2.1 million in Galapagos by exercising these warrants with an
exercise price of €11.55 per share. All of these warrants
were due to expire on 26 April 2015.
Dr Piet Wigerinck and Dr Andre Hoekema of the Executive
Committee exercised an aggregate number of 5,000 warrants to hold
as shares under the Galapagos' Executive Committee warrant exercise
program whereby members have made a commitment to exercise a
minimum number of warrants during subsequent exercise periods,
subject to certain conditions.
To date, Galapagos' total share capital amounts to
€166,996,209.57; the total number of securities conferring voting
rights is 30,870,677, which is also the total number of voting
rights (the "denominator"), and all securities conferring voting
rights and all voting rights are of the same category. The total
number of rights (warrants) to subscribe to not yet issued
securities conferring voting rights is 3,019,305, which equals the
total number of voting rights that may result from the exercise of
these warrants. Galapagos does not have any convertible bonds or
shares without voting rights outstanding.
About Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a clinical-stage
biotechnology company specialized in the discovery and development
of small molecule medicines with novel modes of action, with a
pipeline comprising three Phase 2 programs, two Phase 1 trials,
five pre-clinical studies, and 25 discovery small-molecule and
antibody programs in cystic fibrosis, inflammation, and other
indications. In the field of inflammation, AbbVie and
Galapagos signed a collaboration agreement for the development and
commercialization of filgotinib. Filgotinib 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. GLPG1205, a first-in-class inhibitor of GPR84, is
currently being tested in a Phase 2 proof-of-concept trial in
ulcerative colitis patients. GLPG1690, a first-in-class
inhibitor of autotaxin, has shown favorable safety in a Phase 1
trial and is expected to enter Phase 2 in idiopathic pulmonary
fibrosis. AbbVie and Galapagos also signed a collaboration
agreement in cystic fibrosis to develop and commercialize molecules
that address mutations in the CFTR gene. Potentiator GLPG1837
is currently in a Phase 1 trial, and corrector GLPG2222 is at the
pre-clinical candidate stage. The Galapagos Group, including
fee-for-service subsidiary Fidelta, has approximately 400
employees, operating from its Mechelen, Belgium headquarters and
facilities in The Netherlands, France, and Croatia. Further
information at: www.glpg.com
CONTACT
Galapagos NV Elizabeth Goodwin, Head of
Corporate Communications & IR Tel: +31 6 2291 6240
ir@glpg.com
Galapagos forward-looking statements
This release may contain forward-looking statements, including,
without limitation, expectations regarding the commercial potential
of our product candidates generally, all of which involve certain
risks and uncertainties. These statements are often, but are
not always, made through the use of words or phrases such as
"believes," "anticipates," "expects," "intends," "plans," "seeks,"
"estimates," "may," "will," "could," "stands to," "continues," "we
believe," "we intend," 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. Among the factors that may result in differences
are the inherent uncertainties associated with competitive
developments, clinical trial and product development activities,
regulatory approval requirements and estimating the commercial
potential of our product candidates. 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.
HUG#1906569
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