Lakefront reports H1 2026 results after closing Ouro Medicines deal with Gilead

Lakefront Biotherapeutics NV, formerly Galapagos, released half-year 2026 financial results and a business update on August 10, 2026. Lakefront and Gilead Sciences completed the acquisition of Ouro Medicines, and the companies plan to collaborate on developing gamgertamig, described as a candidate for first and best status among T-cell engagers for autoimmune diseases.¹

On the regulatory front, gamgertamig has received both Fast Track and Orphan Drug Designation from the U.S. FDA for autoimmune hemolytic anemia and immune thrombocytopenia, with registrational studies expected to begin in 2027.¹ Two Phase 1b studies are currently enrolling: one in autoimmune cytopenias (NCT07083960) active in Australia and the U.S., and another in seropositive autoimmune diseases (NCT07229144) active in Australia, New Zealand, Czech Republic, and Japan, according to the company.

Separately, the Phase 2 GALARISSO study of GLPG3667 in dermatomyositis completed its 24-week open-label extension with sustained efficacy and safety, while the Phase 2 GALACELA study in systemic lupus erythematosus completed with favorable safety at 48 weeks but did not meet its 32-week primary endpoint or the comparable 48-week secondary endpoint.¹ Lakefront said it is now evaluating strategic options for that program.

Financially, total net revenues fell to €18.6 million for the first six months of 2026 from €140.3 million a year earlier, while R&D expenses dropped to €56.5 million from €278.0 million, and the company posted a net profit of €16.6 million versus a net loss of €259.1 million in the prior-year period.¹ Cash and financial investments totaled €2,239.5 million as of June 30, 2026, down from €2,998.0 million at year-end 2025.¹

The company also confirmed year-end 2026 cash guidance in a range of €1.975 billion to €2.050 billion, which now factors in a previously announced €50 million share buyback program.¹