IMVT - Argenx: Strong Setup For Outperformance In 2025

2024-06-28 10:20:00 ET

Summary

• Argenx's shares rose after FDA approval of Vyvgart for the treatment of CIDP.
• The approval expands the addressable market for Vyvgart, and the company will initially target 12,000 patients in the U.S. who are currently not well controlled on other drugs.
• The filing with the FDA for the prefilled syringe for Vyvgart was completed, and it represents another potential growth driver in 2025 and a key defensive step in the long-term.
• The current Street revenue consensus for 2025 looks very conservative and the CIDP approval sets the stage for a period of strong commercial outperformance.

Shares of argenx ( ARGX ) rose after the company announced the FDA approval of Vyvgart Hytrulo for the treatment of chronic inflammatory demyelinating polyneuropathy (‘CIDP’). The product label is broad and clean, and the estimated net price per patient per year is much higher than the estimated net price for generalized myasthenia gravis (‘gMG’) patients due to the higher dosing frequency as the price per dose is the same....

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