Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 86

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 86
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 adversely affect our reputation, ability to obtain the necessary certifications to financial statements, lead to additional regulatory enforcement actions, and could adversely affect the value of the ADSs or our ordinary shares. However, these rules and regulations are often subject to varying interpretations, in many cases due to their lack of specificity, and, as a result, their application in practice may evolve over time as new guidance is provided by regulatory and governing bodies. This could result in continuing uncertainty regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices.
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54

Risks related to ownership of our ordinary shares and ADSs
The market price of the ordinary shares and ADSs could be subject to wide fluctuations.
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The market price of the ordinary shares and ADSs could be subject to wide fluctuations in response to many risk factors listed in this section, and others beyond our control, including (without any limitation):
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●   actual or anticipated fluctuations in our financial condition and operating results;
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●   actual or anticipated changes in our growth rate relative to our competitors;
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●   competition from existing products or new products that may emerge;
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●   announcements by us, our partners or our competitors of significant acquisitions, strategic partnerships, joint ventures, collaborations, or capital commitments;
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●   failure to meet or exceed financial estimates and projections of the investment community or that we provide to the public;
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●   issuance of new or updated research or reports by securities or industry analysts;
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●   fluctuations in the valuation of companies perceived by investors to be comparable to us; share price and volume fluctuations attributable to inconsistent trading volume levels of our shares;
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●   additions or departures of key management or scientific personnel;
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●   disputes or other developments related to proprietary rights, including patents, litigation matters, and our ability to obtain patent protection for our technologies;
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●   changes to coverage policies or reimbursement levels by commercial third-party payers and government payers and any announcements relating to coverage policies or reimbursement levels;
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●   announcement or expectation of additional debt or equity financing efforts;
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●   public concern relating to the commercial value or safety of any of our products or product candidates;
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●   changes in government regulations;
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●   positive or negative results of testing and clinical trials by us, strategic partners or competitors;
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●   outcome of regulatory review of our product candidates;
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●   sales of the ordinary