Galapagos NV (NASDAQ:GLPG) Q1 2023 Earnings Conference Call May 5, 2023 8:00 AM ET

Company Participants

Sofie Van Gijsel - Head, IR

Paulus Stoffels - CEO, Chairman, Interim Head, R&D

Bart Filius - President, COO & CFO

Michele Manto - Chief Commercial Officer

Conference Call Participants

Michael Ulz - Morgan Stanley

Peter Verdult - Citigroup

Dane Leone - Raymond James & Associates

Jason Gerberry - Bank of America Merrill Lynch

Brian Balchin - Jefferies

Operator

Good day, and thank you for standing by. Welcome to the Galapagos Q1 2023 Financial Results Conference Call. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Sofie Van Gijsel. Please go ahead.

Sofie Van Gijsel

Thank you, operator, and thank you, and welcome to the audio webcast of Galapagos First Quarter 2023 Results. I'm Sofie Van Gijsel, Investor Relations representing the reporting team at Galapagos. This recorded webcast is accessible via the Galapagos website homepage and will be available for download and replay later on today.

I would like to remind everyone that we will be making forward-looking statements during today's webcast. These forward-looking statements include remarks concerning future developments of the pipeline and our company and possible changes in the industry and competitive environments. Because these forward-looking statements involve risks and uncertainties, Galapagos' actual results may differ materially from the results expressed or implied in these statements.

Today's speakers will be Paul Stoffels, CEO; and Bart Filius, President, COO and CFO. Paul will discuss the Q1 highlights and provide an update on our immunology and oncology portfolio. Bart will go over the commercial and financial results.

You will see a presentation on screen. We estimate that the prepared remarks will take about 20 minutes, then we'll open it up to Q&A with Paul and Bart joined by Michele Manto, Chief Commercial Officer; and Daniele D'Ambrosio, Head of Immunology.

And with that, I'll now turn over to Paul.

Paulus Stoffels

Thank you, Sofie. Good morning, good afternoon and thank you for joining our Q1 results highlights. Let's take a moment to look at the highlights as presented on the slide here.

To first take on immunology. While we were very disappointed with the outcome of the Crohn's disease study, we are happy that we recently dosed the first patient in a Phase III registrational study with filgotinib in axial spondyloarthritis, a potential third indication for Jyseleca. In addition, we are opening clinical sites for our Phase II study with a TYK2 inhibitor and should dose the first patients in the coming days or weeks.