GLPG-3667 is a small molecule commercialized by Galapagos, with a leading Phase II program in Dermatomyositis. According to Globaldata, it is involved in 10 clinical trials, of which 6 were completed, 2 are ongoing, and 2 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 $63 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 the GLPG3667 compound against autoimmune indications. The company offers its products in the therapeutic areas of immunology and oncology. It partners with academic organizations and universities to accelerate development and boost innovation in discovery, preclinical and clinical development. The company operates in Belgium, the Netherlands, France, Germany, Austria, Italy, Spain, the Nordics, Switzerland, the UK and the US. Galapagos is headquartered in Mechelen, Belgium.

The company reported revenues of (Euro) EUR552.1 million for the fiscal year ended December 2022 (FY2022), an increase of 2.5% over FY2021. The operating loss of the company was EUR267.5 million in FY2022, compared to an operating loss of EUR165.6 million in FY2021. The net loss of the company was EUR218 million in FY2022, compared to a net loss of EUR103.2 million in FY2021. The company reported revenues of EUR187.2 million for the first quarter ended March 2023, an increase of 66.4% over the previous quarter.

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

This content was updated on 2 September 2023

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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.