Hallmark third quarter 2018 and Annual R&D Update at Galapagos

• First nine months financial results:
  • Group revenues increased by €98.7 million to €205.1 million

Operating loss decreased by €9.1 million to €53.5 million

Net loss decreased by €41.7 million to €44.2 million

Cash and cash equivalents on 30 Sept 2018 of €1,343.7 million

Substantial R&D progress in Q3:

• FINCH 2 Phase 3 trial with filgotinib in rheumatoid arthritis met all primary and secondary endpoints, with consistent tolerability
• TORTUGA Phase 2 with filgotinib met primary endpoint with consistent tolerability in ankylosing spondylitis patients
• Global collaboration signed with Novartis on MOR106 in atopic dermatitis

Annual R&D Update to be held tomorrow at the Yale Club in New York

Webcast presentation to be combined with our Annual R&D Update event tomorrow, 25 October 2018, at 16.15 CET/10:15 AM ET, www.glpg.com, [phone], code 2357358

Mechelen, Belgium; 24 October 2018, 22.03 CET; regulated information - Galapagos NV (Euronext & NASDAQ: GLPG) announces its unaudited Q3 results, which are further detailed in its Q3 2018 report available on the Galapagos website, www.glpg.com.

"This quarter has been particularly exciting, and quite a historical one, for our company," said Onno van de Stolpe, CEO. "We are very proud of the first positive Phase 3 trial with filgotinib, a compound originating from our proprietary discovery platform. Together with our collaboration partner Gilead, we are looking forward to building out the filgotinib franchise. Further, both our proprietary and our partnered pipeline continue to make swift progress.

"Both in terms of pipeline progress and business development activity, this has been a highly successful quarter" said Bart Filius, CFO and COO of Galapagos. "Moreover, thanks to a successful capital transaction for gross proceeds of €296.2 million, we further strengthened our cash position, which will support our accelerating evolution towards a fully integrated biopharma company."

Outlook 2018
In Q4, we expect to present more detailed findings from the EQUATOR, TORTUGA, and FINCH 2 trials with filgotinib, including at our R&D Update tomorrow 25 October. We will also present first data and our development strategy with regard to Toledo, our new program in inflammatory indications. We expect to start dosing in the ISABELA (Ph3 IPF '1690) and PINTA (Ph2 IPF '1205) patient trials. As a result of the recently announced revision of the AbbVie collaboration agreement in CF, we are reducing our expected operational cash burn from the last guided €180-200 million, as mentioned in our H1 2018 report, to €140-160 million in 2018.