Galapagos NV (Nasdaq ADR: GLPG) is at it again.
The Mechelen, Belgium-based Galapagos recently announced plans for a global offering of common stock.
But there's a twist...
As part of the offering, Galapagos has asked the U.S. Securities and Exchange Commission (SEC) for permission to offer shares here in the U.S. market in the form of "American Depositary Shares" (ADS) that will supplant its current over-the-counter (OTC)/American Depository Receipt (ADR) shares.
This isn't the first time we've seen this sort of ADS scheme from our "Baby Biotech" play.
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