Why Galapagos (GLPG) Stock Is Falling Today - Galapagos (NASDAQ:GLPG)

Galapagos NV GLPG announced the topline results from the DIVERSITY Phase 3 trial of filgotinib during induction and maintenance treatment of biologic-naïve and biologic-experienced patients with moderate to severe Crohn's disease (CD).
The co-primary endpoints at Week 10 and Week 58 were clinical remission and endoscopic response.
Both induction cohorts of the study failed to meet the co-primary endpoints of clinical remission and endoscopic response for filgotinib, 100mg and 200mg once daily.
In the maintenance phase of the study, a statistically significant higher proportion of patients receiving filgotinib 200mg once daily achieved the co-primary endpoints of clinical remission (43.8% vs. 26.4%) and endoscopic response (30.4% vs. 9.4%; p=0.0038) compared to placebo at Week 58.
The safety observations of the study were in line with the underlying disease and were consistent with the safety profile of filgotinib in previous studies across indications.
Daniele D'Ambrosio, Galapagos' therapeutic area head in immunology, said the result comes as a disappointment as filgotinib showed "robust late-stage clinical data" in ulcerative colitis as well as in earlier Phase 2 studies for Crohn's.
Galapagos decided not to submit a European marketing application based on these topline data.
Price Action: GLPG shares are down 7.87% at $40.15 on the last check Thursday.

Why Galapagos Stock Is Falling Today