Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 209

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 5
Chunk 209
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 use of other equity financing.
As of December 31, 2024, we had no financial debt.
Our ongoing financial commitments are listed in the section of this annual report titled “Item 5..—Contractual obligations and commitments” and mainly consist of purchase commitments.
Payment of dividends by subsidiaries
The amount of dividends payable by our subsidiaries to us is subject to, among other restrictions, general limitations imposed by the corporate laws, capital transfer restrictions and exchange control restrictions of the respective jurisdictions where those subsidiaries are organized and operate.
Of our financial investments and cash and cash equivalents held outside of our Belgian entities as of December 31, 2024 and 2023, the amount of cash that would have been subject to withholding taxes if transferred to us by way of dividends and the amount of cash that could not have been transferred by law was in each case immaterial.
Funding requirements
Based on conservative assumptions, that may prove to be wrong, we believe that our existing financial investments and cash and cash equivalents will enable us to fund our operating expenses and capital expenditure requirements at least for a period of 12 months. 
Our present and future funding requirements will depend on many factors, including, among other things:

●   the terms and timing of milestones, in-licensing payments and expense reimbursement payments, if any, from our collaboration and alliance agreements;
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●   the progress, timing, scope and costs of preclinical testing and clinical trials for any current or future compounds;
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●   the number and characteristics of potential new compounds we identify and decide to develop;
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●   our need to expand our development activities and, potentially, our research activities;
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●   the costs involved in filing patent applications and maintaining and enforcing patents;
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●   the cost, timing and outcomes of regulatory approvals;
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●   selling and marketing activities undertaken in connection with the commercialization of our products or anticipated commercialization of any of our current or future compounds; and
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●   the amount of revenues, if any, we may derive either directly or in the form of royalty payments from future sales of our products.
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We may raise additional capital through the sale of equity or convertible debt securities. In such an event, your ownership interest may be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect your rights as a holder of the ADSs or our ordinary shares.
For more information as to the risks associated with our future