Why galapagos Is Trending Today?

Galapagos, a Belgian biotechnology company, has announced the closure of its cell therapy division, leading to the shutdown of its research facility in Leiden, the Netherlands. This decision has raised concerns among investors and resulted in a decrease in the company's stock price on the Amsterdam Stock Exchange. The closure is expected to affect around 365 jobs, with several sites potentially facing closure. Galapagos has stated that it will focus its efforts on its pipeline of small molecule drugs.