Galapagos NV (Euronext & LSE: GLPG) today announced its financial results for the first nine months of 2005. Total revenue for the first nine months of 2005 amounted to € 3.3 million, compared to € 3.6 million in the first nine months of 2004, due to a decrease in custom adenovirus orders delivered in this period. The net loss for the first half of 2005 increased to € 5.7 million from € 4.3 million in the same period last year, reflecting stepped up R&D program investment. Cash and cash equivalents amounted to € 25.1 million on September 30, 2005.
