BioCentury
ARTICLE | Clinical News

Galapagos falls on CF data, AbbVie partnership update

June 29, 2018 12:47 AM UTC

Galapagos N.V. (Euronext:GLPG; NASDAQ:GLPG) shares slid Friday after the company said GLPG2737 failed to significantly improve lung function in the Phase II PELICAN trial to treat cystic fibrosis. The company also said partner AbbVie Inc. (NYSE:ABBV) has scrapped plans for a second trial of a triple combination CF therapy.

The news drove the stock down €3.62 to €78.94 on Euronext and $3.63 to $92.18 on NASDAQ, and appeared to give Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) a lift as that stock added $22.37 (15%) to $169.96 on Friday...