GLPG-3667 is a small molecule commercialized by Galapagos, with a leading Phase I program in Psoriatic Arthritis. According to Globaldata, it is involved in 10 clinical trials, of which 6 were completed, and 4 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of GLPG-3667’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for GLPG-3667 is expected to reach an annual total of $121 mn by 2034 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

GLPG-3667 Overview

GLPG-3667 is under development for the treatment of inflammation and moderate to severe plaque psoriasis, dermatomyositis, psoriatic arthritis and ulcerative colitis. The drug candidate is a small molecule. It is administered by oral route. It acts by targeting nonreceptor tyrosine protein kinase (TYK2).

Galapagos Overview

Galapagos is a biotechnology company that discovers and develops small molecule medicines for the treatment of inflammatory and fibrotic diseases. It offers Filgotinib medication targeting rheumatoid arthritis (RA). The company is investigating GLPG3667 compound against autoimmune indications; GLPG2737, a cystic fibrosis transmembrane conductance regulator (CFTR) inhibitor to treat autosomal dominant polycystic kidney disease; GLPG1690, an oral autotaxin inhibitor targeting idiopathic pulmonary fibrosis (IPF); and GLPG1972 drug to treat osteoarthritis. Galapagos is also evaluating Filgotinib against Crohn’s disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, Sjogren’s syndrome, cutaneous lupus and uveitis. It has operational presence in the Netherlands, France, Germany, Italy, Spain, Switzerland, the United States and the United Kingdom. The company works in collaboration with disease foundations, pharmaceutical and biotechnology companies. Galapagos is headquartered in Mechelen, Belgium.

The company reported revenues of (Euro) EUR538.6 million for the fiscal year ended December 2021 (FY2021), an increase of 1.6% over FY2020. The operating loss of the company was EUR165.6 million in FY2021, compared to an operating loss of EUR178.6 million in FY2020. The net loss of the company was EUR103.2 million in FY2021, compared to a net loss of EUR305.4 million in FY2020. The company reported revenues of EUR148 million for the third quarter ended September 2022, an increase of 0.3% over the previous quarter.

For a complete picture of GLPG-3667’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.