# EDGAR Filing Document

**Accession Number:** 0001421876
**File Stem:** 0001213900-25-068366
**Filing Date:** 2025-7
**Character Count:** 20106
**Document Hash:** 5517bb0895a5c4bd2581bacf2cc08786
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-068366.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001213900-25-068366

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GALAPAGOS NV
- **CENTRAL INDEX KEY:** 0001421876
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-88880
- **FILM NUMBER:** 251157298

**BUSINESS ADDRESS:**
- **STREET 1:** GEN DE WITTELAAN L11 A3
- **CITY:** 2800 MECHELEN
- **STATE:** C9
- **ZIP:** 00000
- **BUSINESS PHONE:** 3215342900

**MAIL ADDRESS:**
- **STREET 1:** GEN DE WITTELAAN L11 A3
- **CITY:** 2800 MECHELEN
- **STATE:** C9
- **ZIP:** 00000
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EcoR1 Capital, LLC
- **CENTRAL INDEX KEY:** 0001587114

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 357 TEHAMA STREET #3
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94103
- **BUSINESS PHONE:** 415-448-6534

**MAIL ADDRESS:**
- **STREET 1:** 357 TEHAMA STREET #3
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94103

## Exhibit 99.2

**Exhibit 99.2**

**TRADING DATA**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Entity** | **Trade Date** | **Type** | **Quantity** | **Name of Security** | **Average Price per Share** | **Description** |
| EcoR1 Capital Fund, L.P. | 6/13/2025 | Purchase | 3130 | ADS | $28.9829 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 6/13/2025 | Purchase | 1437 | ADS | $28.7907 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 6/16/2025 | Purchase | 286 | ADS | $28.8133 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 6/16/2025 | Purchase | 1565 | ADS | $28.8976 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 6/16/2025 | Purchase | 3571 | ADS | $29.0362 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 6/17/2025 | Purchase | 3157 | ADS | $28.1568 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 6/17/2025 | Purchase | 1252 | ADS | $27.8701 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 6/18/2025 | Purchase | 5129 | ADS | $28.2983 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 7/24/2025 | Purchase | 93 | ADS | $30.5861 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 7/24/2025 | Purchase | 11019 | ADS | $30.6597 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 7/24/2025 | Purchase | 5539 | ADS | $29.9565 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 7/25/2025 | Purchase | 362 | ADS | $31.5515 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 7/25/2025 | Purchase | 883 | ADS | $31.7152 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 7/25/2025 | Purchase | 7747 | ADS | $32.4715 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 7/28/2025 | Purchase | 6336 | ADS | $33.2587 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 6/13/2025 | Purchase | 46870 | ADS | $28.9829 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 6/13/2025 | Purchase | 21520 | ADS | $28.7907 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 6/16/2025 | Purchase | 4278 | ADS | $28.8133 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 6/16/2025 | Purchase | 23435 | ADS | $28.8976 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 6/16/2025 | Purchase | 53472 | ADS | $29.0362 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 6/17/2025 | Purchase | 47279 | ADS | $28.1568 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 6/17/2025 | Purchase | 18748 | ADS | $27.8701 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 6/18/2025 | Purchase | 76810 | ADS | $28.2983 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 7/24/2025 | Purchase | 1319 | ADS | $30.5861 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 7/24/2025 | Purchase | 155680 | ADS | $30.6597 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 7/24/2025 | Purchase | 78261 | ADS | $29.9565 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 7/25/2025 | Purchase | 5108 | ADS | $31.5515 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 7/25/2025 | Purchase | 12477 | ADS | $31.7152 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 7/25/2025 | Purchase | 109456 | ADS | $32.4715 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund Qualified, L.P. | 7/28/2025 | Purchase | 89520 | ADS | $33.2587 | Open Market transaction on NASDAQ |
| EcoR1 Capital Fund, L.P. | 6/13/2025 | Purchase | 1755 | Ordinary Shares | € 24.8886 | Open Market transaction on Euronext |
| EcoR1 Capital Fund Qualified, L.P. | 6/13/2025 | Purchase | 26274 | Ordinary Shares | € 24.8886 | Open Market transaction on Euronext |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 3)**

**Galapagos NV**

*(Name of Issuer)*

**Ordinary Shares, no par value**

*(Title of Class of Securities)*

**36315X101**

*(CUSIP Number)*

**Oleg Nodelman**<br>EcoR1 Capital, LLC<br>357 Tehama Street #3<br>San Francisco CA 94103<br>(415) 448-6534

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**07/24/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **36315X101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**EcoR1 Capital, LLC** | Name of reporting person<br>**EcoR1 Capital, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**8714522.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**8714522.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8714522.00** | Aggregate amount beneficially owned by each reporting person<br>**8714522.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.22%** | Percent of class represented by amount in Row (11)<br>**13.22%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

**Comment for Reporting Person:** The amounts reported include (1) ordinary shares, no par value, of Galapagos NV (the "Issuer") and (2) American Depositary Shares, each of which represents one ordinary share, no par value, of the Issuer.

Based on 65,897,071 ordinary shares outstanding as of December 31, 2024, as reported in the Issuer's Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") on March 27, 2025 (the "Form 20-F").

| **CUSIP No.** | **36315X101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Oleg Nodelman** | Name of reporting person<br>**Oleg Nodelman** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**8714522.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**8714522.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8714522.00** | Aggregate amount beneficially owned by each reporting person<br>**8714522.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.22%** | Percent of class represented by amount in Row (11)<br>**13.22%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The amounts reported include (1) ordinary shares, no par value, of the Issuer and (2) American Depositary Shares, each of which represents one ordinary share, no par value, of the Issuer.

Based on 65,897,071 ordinary shares outstanding as of December 31, 2024, as reported in the Issuer's Form 20-F.

| **CUSIP No.** | **36315X101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**EcoR1 Capital Fund Qualified, L.P.** | Name of reporting person<br>**EcoR1 Capital Fund Qualified, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**8192077.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**8192077.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8192077.00** | Aggregate amount beneficially owned by each reporting person<br>**8192077.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**12.43%** | Percent of class represented by amount in Row (11)<br>**12.43%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The amounts reported include (1) ordinary shares, no par value, of the Issuer and (2) American Depositary Shares, each of which represents one ordinary share, no par value, of the Issuer.

Based on 65,897,071 ordinary shares outstanding as of December 31, 2024, as reported in the Issuer's Form 20-F.

| **CUSIP No.** | **36315X101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**EcoR1 Capital Fund, L.P.** | Name of reporting person<br>**EcoR1 Capital Fund, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**522445.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**522445.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**522445.00** | Aggregate amount beneficially owned by each reporting person<br>**522445.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.79%** | Percent of class represented by amount in Row (11)<br>**0.79%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** The amounts reported include (1) ordinary shares, no par value, of the Issuer and (2) American Depositary Shares, each of which represents one ordinary share, no par value, of the Issuer.

Based on 65,897,071 ordinary shares outstanding as of December 31, 2024, as reported in the Issuer's Form 20-F.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Ordinary Shares, no par value

**(b) Name of Issuer:**
Galapagos NV

**(c) Address of Issuer's Principal Executive Offices:**
Generaal De Wittelaan, 2800 Mechelen, C9, L11 A3

EXPLANATORY NOTE: This Amendment No. 3 to Schedule 13D (this "Schedule 13D/A") amends and supplements, to the extent set forth herein, the statement on Schedule 13D originally filed with the Securities and Exchange Commission (the "SEC") on August 23, 2024, as amended by Amendment No. 1 thereto filed on October 8, 2024, as amended by Amendment No. 2 thereto filed on May 19, 2025 (the "Schedule 13D"), filed by the Reporting Persons with respect to the ordinary shares, no par value (the "Ordinary Shares"), and American Depositary Shares, each of which represents one ordinary share, no par value (the "ADSs" and together with the Ordinary Shares, the "Shares"), of Galapagos NV (the "Issuer"). Except as expressly amended by this Schedule 13D/A, the Schedule 13D remains in effect. Capitalized terms not otherwise defined in this Schedule 13D/A shall have the meaning ascribed to them in the Schedule 13D.

This Schedule 13D/A amends Items 3, 5 and 7.

**Item 4. Purpose of Transaction**

No amendment to this Item is being made.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5(a) of the Schedule 13D is hereby amended and restated in its entirety as follows:

EcoR1 and Mr. Nodelman each may be deemed to beneficially own an aggregate of 8,714,522 Shares (the "Subject Shares"), representing approximately 13.22% of the outstanding Shares based on 65,897,071 Shares outstanding as of December 31, 2024 (the "Outstanding Shares"), as reported in the Issuer's Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") on March 27, 2025 (the "Form 20-F").

Qualified Fund may be deemed to beneficially own an aggregate of 8,192,077 of the Subject Shares, representing approximately 12.43% of the Outstanding Shares.

Capital Fund may be deemed to beneficially own an aggregate of 522,445 of the Subject Shares, representing approximately 0.79% of the Outstanding Shares.

**(b)**
Item 5(b) of the Schedule 13D is hereby amended and restated in its entirety as follows:

EcoR1, as the general partner of each of the Funds, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all the Subject Shares.

Mr. Nodelman may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all the Subject Shares.

Each of the Funds may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) only the Subject Shares that it beneficially owns.

**(c)**
Item 5(c) of the Schedule 13D is hereby amended and restated in its entirety as follows:

Exhibit 99.2 filed herewith, which is incorporated by reference into this Item 5(c), describes the transactions in the Shares that were effected by the Reporting Persons during the past sixty (60) days.

Except as set forth in Exhibit 99.2 filed herewith, no transactions in the Shares were effected by the Reporting Persons during the past sixty (60) days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

No amendment to this Item is being made.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** EcoR1 Capital, LLC

**Signature:** /s/ Oleg Nodelman

**Name/Title:** Manager

**Date:** 07/28/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Oleg Nodelman

**Signature:** /s/ Oleg Nodelman

**Name/Title:** Reporting Person

**Date:** 07/28/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** EcoR1 Capital Fund Qualified, L.P.

**Signature:** /s/ Oleg Nodelman

**Name/Title:** Manager of the General Partner, EcoR1 Capital, LLC

**Date:** 07/28/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** EcoR1 Capital Fund, L.P.

**Signature:** /s/ Oleg Nodelman

**Name/Title:** Manager of the General Partner, EcoR1 Capital, LLC

**Date:** 07/28/2025