Galapagos has been cursed ever since the Gilead deal.
Again todays news is a major letdown!
Keep in mind: Gilead still retains Jyseleca rights in Crohn’s disease, but Porges suggests that the company won’t proceed with that indication either, given the drug’s modest showing in clinical trials in another inflammatory bowel disease, Ulcerative Colitis. “Gilead shared with us that they would not proceed with commercializing the drug in CD unless they see best-in-class data,” Porges said.
In the coming days I think there will be some new SELL Ratings amongst analysts so there still is downside risk at this entry point.
I don't see any major, near-term stock moving catalysts from the pipeline.
About TOLEDO; the target is interesting, Onno called it a "once in a lifetime opportunity", but most analysts don't think this changes the sentiment on the stock in the near-to-medium term, a lot of derisking is need to be done.
In view of upside potential we have to be very, very patient. Substantial catalysts seems more likely beyond 2021. So in the meantime your money is locked up with little to no return.