GALAPAGOS NV

Lakefront Biotherapeutics NV announced the repurchase of 104,022 of its own shares between June 29, 2026, and July 3, 2026, as part of a program initiated on June 9, 2026. The total value of these repurchases amounted to €2,730,010.70, with an average price of €26.24 per share. Following these transactions, the company holds 303,756 of its own ordinary shares as of market close on July 3, 2026.

Lakefront Biotherapeutics received a transparency notification from Madison Avenue Partners. The notification indicates that Madison Avenue Partners, jointly with its affiliates, crossed above the 5% voting rights threshold on June 15, 2026. As of June 24, 2026, Madison Avenue Partners holds 3,498,892 voting rights, representing 5.31% of Lakefront's total outstanding shares.

Lakefront Biotherapeutics NV announced the initiation of a share repurchase program, allowing the company to repurchase ordinary shares for an aggregate amount of up to 50 million euros. Repurchases may be made no later than December 31, 2026. This program stems from an opportunity gained through a transaction with Gilead announced in March 2026, which permitted repurchases of up to $150 million. The primary objective of the program is to deliver shareholder value, with all purchased shares to be held as treasury shares.

Lakefront Biotherapeutics announced the appointment of Eric Hedrick, MD, as its new Chief Medical Officer. This leadership expansion supports the company's strategic transformation following its recent acquisition of Ouro Medicines' operational assets. Dr. Hedrick brings 25 years of experience in developing effective and commercially successful therapies in the pharmaceutical and biotechnology industry.

Gilead Sciences and Lakefront Biotherapeutics announced the successful completion of the acquisition of Ouro Medicines. This acquisition adds gamgertamig, a clinical-stage T cell engager for autoimmune diseases, to both companies' inflammation pipelines. Gilead acquired Ouro for $1,675 million upfront and up to $500 million in contingent milestone payments, which Lakefront will split equally with Gilead. Lakefront will collaborate on gamgertamig's development, receive tiered royalties on net sales, and has also in-licensed a preclinical portfolio from Ouro.

Lakefront Biotherapeutics NV received a transparency notification from Bank of America Corporation, indicating that Bank of America crossed above the 5% threshold of Lakefront's voting rights on May 13, 2026. Following the acquisition of voting rights and equivalent financial instruments, Bank of America Corporation, including its affiliates, now holds a total of 9.30% of Lakefront's currently outstanding 65,897,071 shares. This comprises 0.95% in direct voting rights and 8.35% in equivalent financial instruments.

Galapagos NV reported a net profit of €14.5 million for Q1 2026, a substantial improvement from a €153.4 million net loss in Q1 2025, despite total net revenues declining 91% to €6.5 million. The company announced its rebranding to Lakefront Biotherapeutics, effective May 8, 2026, and provided an update on its collaboration agreement with Gilead to advance Ouro Medicines' T cell engager, gamgertamig, expected to close in Q2 2026. Galapagos also confirmed its cell therapy wind-down is on schedule, with estimated 2026 cash costs of €125 million to €175 million, and expects year-end 2026 cash and financial investments to be approximately €2 billion.

GALAPAGOS NV held its Annual and Extraordinary Shareholders' Meetings, approving a significant company name change to "Lakefront Biotherapeutics" effective May 8, 2026. Shareholders also approved the 2025 annual accounts, remuneration report, and granted release from liability to the Board and auditor. The meetings saw the appointment or re-appointment of seven directors, including an executive, a non-executive, and five independent non-executive directors. Additionally, the statutory auditor, BDO Bedrijfsrevisoren BV, was re-appointed with specified remuneration for both audit and CSRD sustainability reporting assurance. Key corporate actions approved include a share buyback authorization for up to 10% of shares and the renewal of authorized capital allowing for an increase of up to 20% of the share capital over five years. A new remuneration policy for non-executive directors was also approved.