Lakefront Biotherapeutics NV

NasdaqGS:LKFT Stock Report

Market Cap: US$2.0b

Lakefront Biotherapeutics Past Earnings Performance

Past criteria checks 2/6

Lakefront Biotherapeutics has been growing earnings at an average annual rate of 32.9%, while the Biotechs industry saw earnings growing at 36.2% annually. Revenues have been growing at an average rate of 7.8% per year. Lakefront Biotherapeutics's return on equity is 15%, and it has net margins of 46.7%.

Key information

32.90%

Earnings growth rate

32.99%

EPS growth rate

Biotechs Industry Growth17.04%
Revenue growth rate7.78%
Return on equity15.00%
Net Margin46.75%
Next Earnings Update10 Aug 2026

Recent past performance updates

Recent updates

Seeking Alpha • Feb 26

Galapagos FY25: Profits Not Built On Product

Summary Galapagos NV (GLPG) reported FY25 GAAP EPS of €4.87 and €1.11B revenue, driven by one-time accounting from Gilead collaboration amendments. GLPG’s profitability is structurally accounting-driven, not reflective of recurring operational strength; underlying business is shrinking with cell therapy exit and pipeline narrowing to TYK2. Management guides for 2026 cash-flow neutrality, €2.78–2.88B year-end cash, and a shift toward business development and capital allocation over internal R&D. GLPG trades at a negative enterprise value, with investors valuing only its cash pile and deeply discounting future execution and strategic repositioning. Read the full article on Seeking Alpha
Seeking Alpha • Feb 20

Disount To Net Cash For A Promising CAR-T Company

Summary Galapagos NV announced a strategic split with Gilead Sciences, creating 'New Galapagos' and 'SpinCo', aiming to unlock shareholder value and reduce staffing by 40%. 'New Galapagos' will focus on cell therapies and small molecules, while 'SpinCo' will target oncology, immunology, and virology with €2.45 billion in capital. Despite an 18% share decline post-announcement, the split offers deep value and potential catalysts, though risks include governance concerns, competitive CAR-T space, and executional challenges. Valuation suggests a 52% upside, with 'New Galapagos' holding €500 million in cash and 'SpinCo' poised for M&A activities in a favorable biotech environment. Read the full article on Seeking Alpha
Seeking Alpha • Dec 14

Galapagos Struggles To Carve A Path In A Crowded CAR-T Therapy Market

Summary Galapagos' CAR-T therapy GLPG5101 shows promising efficacy but has limited durability data and small patient samples compared to Yescarta. Phase 1 safety concerns have improved in Phase 2, though long-term safety data remains incomplete. Financially, Galapagos boasts robust cash reserves and a runway extending beyond 2027, but its burn rate is likely to increase. The company’s pivot to CAR-T is strategically ambitious but enters a highly competitive market with entrenched players like Gilead and Novartis. Galapagos remains a "sell" due to underwhelming differentiation, cash inefficiencies, and reliance on external pressures to drive strategic change. Read the full article on Seeking Alpha
Seeking Alpha • Aug 23

Galapagos: CAR-T Biotech To Change Landscape With GLPG5101 And Beyond

Summary Galapagos NV achieved positive results from its European phase 1/2 ATLANTA-1 study using GLPG5101 for patients with relapsed/refractory NHL; phase 1 portion with 87.5% ORR and phase 2 portion with 93.3% ORR. The global non-Hodgkin Lymphoma market is expected to reach $16 billion by 2029; on average, between 30% to 40% of NHL patients have relapsed/refractory disease. IND clearance of U.S. phase 1/2 ATLANTA-1 study using GLPG5101 for patients with relapsed/refractory NHL achieved; this trial could speed up enrollment and further establish efficacy with newly added patients. GLPG5201 and GLPG5301 are two other candidates in the pipeline, which are being developed to target patients with relapsed/refractory chronic lymphocytic leukemia and relapsed/refractory Multiple Myeloma patients, respectively. Read the full article on Seeking Alpha
Seeking Alpha • Mar 07

Galapagos: Pipeline Still Progressing Despite Financial Volatility

Summary Galapagos has managed to curtail its R&D and G&A expenses, demonstrating efficient cost management. The company has strategically focused on oncology and immunology, sectors with high unmet medical needs and market impact potential. Galapagos is investing in CAR-T cell therapies, with promising early data indicating progress in its unique manufacturing platform. Read the full article on Seeking Alpha
Seeking Alpha • Oct 10

Galapagos: Trading At Discount To Cash With A Fast-Growing Marketed Product

Summary Galapagos has had a new CEO since April 2022. The company's new strategy is taking shape with some research programs scrapped and small assets acquired. Jyseleca is growing rapidly and has a way to go. Meanwhile, Galapagos trades at a sizeable discount to cash. Galapagos NV (GLPG) is a biotech with a market cap of $2.9 billion that's been around for a while with a storied history. It managed to raise a lot of money in the past and currently has a bunch of early-stage assets to show for all its investments in R&D over the years. It was incorporated in 1999 and is headquartered in Mechelen, Belgium. I like this biotech at $43.55 because it holds billions of dollars of cash (over $4 billion) and virtually no debt. There's cash burn, but that's becoming more manageable as the company now has an asset that's being marketed in JYSELECA. For now, operating cash burn is at a run-rate of around ~$400/year. Paul Stoffels took over as CEO in April 2022. The new management is contemplating how to run the business best, but meanwhile executed two small acquisitions (that increased cash burn a bit for the year). Galapagos strategic review (Galapagos) Stoffels commented on the strategic review as follows on the recent earnings call (emphasis mine): Let me say, we have the internal review where we look internally but we have also a very extensive external review on what business opportunities we can bring in at the moment. So it goes in parallel, we're looking strategically, what are the assets and the portfolio prioritization internally as well as looking at additional potential short-term acquisitions as the market now is very -- looking for very -- many biotech companies are looking for partnerships now and it's a great opportunity for us to evaluate that. We will mainly focus on -- at the moment on oncology and -- in oncology and inflammation. In the past, we have said we are looking at select infectious disease opportunities if they would be there. But oncology and inflammation will be the key. And we'll evaluate internally our fibrosis assets and see whether there are still compounds which are valuable and word in the acquisition -- in capital allocation. Where we are is like, let's say, we are in the middle of the review as I'm -- we are in the middle of the review and one-by-one, this is the first reporting to you. And on the Capital Markets Day, we'll be able to give you further insights on long-term strategy, both on oncology and inflammation, other assets in the company as hopefully by then but maybe not yet next opportunities in acquisitions or licensing. Meanwhile, Jyseleca is performing quite well: Jyseleca growth (Galapagos) The company expects to top out at ~$500 million in annual sales in Europe. That's still years away, but it will still be a powerful force in bringing operating cash burn down. With the market cap well below the net cash on the balance sheet and this growing revenue stream, and no debt, I think the shares are definitely on the cheap side. Management will need to make some disastrous decisions or be very unlucky to wreck future returns from this position and share price. There are option angles that I think are worth contemplating. For a long time, Galapagos has been a huge bag of cash with some cash burn and not a lot happening. Large amounts of cash are volatility dampening and its options market has relatively muted implied volatility. Its implied volatility is still higher than a biotech index like the iShares Biotechnology ETF (IBB), but not by that much. See SPDR S&P Biotech ETF (XBI) below: Straddle XBI (optionstrat)
Seeking Alpha • Oct 03

EMA panel approves amending label for Galapagos' Jyseleca on testicular function effects

Belgian pharmaceutical firm Galapagos (NASDAQ:GLPG) on Monday said the European Union's human medicines committee had recommended amending the label of its inhibitor Jyseleca to remove a warning regarding its effect on testicular function. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion on GLPG's type 2 variation application, GLPG said in a statement. Jyseleca is indicated for the treatment of patients with inflammatory bowel disease and rheumatic conditions. The variation application was supported by interim data from two ongoing studies called MANTA and MANTA-RAy, GLPG said. The CHMP concluded that the interim data did not suggest that Jyseleca had an effect on the testicular function of patients. Following the CHMP's opinion, Jyseleca's label will be amended to remove the language in the section of special warnings and precautions about the potential effect of the drug on sperm production and male fertility. U.S.-listed shares of GLPG earlier closed +0.5% at $42.85.
Seeking Alpha • Jul 25

Galapagos stock dips after Jefferies slashes rating citing challenges ahead

Galapagos (NASDAQ:GLPG) stock fell ~5% on July 25 after Jefferies Financial downgraded the stock to Underperform from Hold. The firm took the action citing challenges facing the Belgium company's base business and the challenges the biotech faces in rebuilding its pipeline. In an effort to diversify its pipeline the company announced in June the acquisition of CAR-T therapy developer CellPoint, and AboundBio, a company with a fully human antibody-based library. The SA Quant Rating on GLPG is Strong Buy which takes into account factors such as growth and profitability, among others things. Meanwhile, the average Wall Street Analysts' Rating on the stock is Buy, wherein 4 out of 7 analysts give it a Hold, 2 Buy and 1 Strong Buy rating. YTD, Galapagos stock has shed ~5%, better than the broader market indicator SP500TR and several peers. See chart here.
Seeking Alpha • May 19

Galapagos: Can The Company Turn Around?

Amid the biotech bear market, there are companies that are trading on a deep bargain, yet you should be extremely careful before averaging down. Though I noticed the fundamental changes in Galapagos, I gave the company a year to turn around. Here, I presented to you three different scenarios on Galapagos for you to make your own investment decision.
Seeking Alpha • Feb 22

Galapagos: A History Of Disruptive Failures

Galapagos has failed to prove the mettle of its R&D pipeline in most of the programs it ran. Filgotinib's failure was a major disruption. They do have enough cash and a new CEO, so a turnaround may still happen.
Seeking Alpha • Dec 02

Galapagos: The Investment Thesis Is More Appealing Than Ever

Galapagos is in the midst of a transformation process that is expected to result in a completely different company by 2023. Galapagos has over $5.5 billion in cash, an approved drug and a broad pipeline with a market capitalization of only $3.2 billion. Jyseleca is approved in Japan and is expected to generate €500 million annually in sales in Europe in the medium term. Since the stock is trading below liquidation value, it is easy to generate shareholder value with little risk.

Revenue & Expenses Breakdown

How Lakefront Biotherapeutics makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:LKFT Revenue, expenses and earnings (EUR Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 261,0444881330
31 Dec 251,1123191410
30 Sep 25287-4441490
30 Jun 25276-2881440
31 Mar 25288-1791460
31 Dec 24276-11330
30 Sep 24260-611320
30 Jun 24261321290
31 Mar 24244311300
31 Dec 23240-41310
30 Sep 23544-1532720
30 Jun 2386-4663-223
31 Mar 23163-691030
31 Dec 22241-711390
30 Sep 225776262223
30 Jun 22505-81230223
31 Mar 22507-1262190
31 Dec 21234-1211320
30 Sep 21474-2011950
30 Jun 21537-2192020
31 Mar 21488-2721960
31 Dec 20478-3111850
30 Sep 20455-3681680
30 Jun 20972751570
31 Mar 209481451200
31 Dec 19835149970
30 Sep 19865280740
30 Jun 19324-66520
31 Mar 19314-41440
31 Dec 18318-29400
30 Sep 18255-743496
30 Jun 18185-1263096
31 Mar 18161-1392896
31 Dec 17156-116270
30 Sep 17193-402668
30 Jun 17176-272668
31 Mar 1717742568
31 Dec 16152542468
30 Sep 1678-492349
30 Jun 1672-522249
31 Mar 1655-682149
31 Dec 1561-1182049
30 Sep 1575-721835

Quality Earnings: LKFT has a large one-off loss of €257.3M impacting its last 12 months of financial results to 31st March, 2026.

Growing Profit Margin: LKFT became profitable in the past.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: LKFT has become profitable over the past 5 years, growing earnings by 32.9% per year.

Accelerating Growth: LKFT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: LKFT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Biotechs industry (54.5%).

Return on Equity

High ROE: LKFT's Return on Equity (15%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/13 04:48
End of Day Share Price 2026/07/10 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Lakefront Biotherapeutics NV is covered by 29 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Emily FieldBarclays
James GordonBarclays
Xue ChenBarclays