DUBLIN – Investors piled into Galapagos NV's thrice-upsized Nasdaq IPO, which grossed $210 million, as part of a global offering that yielded $275 million in total. The greenshoe option, if exercised, would add another $41 million to the total.
Mechelen, Belgium-based Galapagos has become one of the hottest tickets in European biotech since unveiling positive phase IIb rheumatoid arthritis (RA) data for its selective Janus kinase 1 (JAK 1) inhibitor filgotinib (formerly GPLG0634) in recent weeks. (See BioWorld Today, April 16, 2015, and April 29, 2015.)
Having initially sought $150 million one month ago, it added two further increments of $50 million before settling on the final figure. The company is now awash with cash, having exited