2024-02-01 07:22:58 ET
Summary
- Vyvgart generated $1.2 billion in net sales in 2023 and is in a good position to continue performing well in 2024 and beyond.
- Empasiprubart has generated strong results in the first cohort of MMN patients, putting this candidate on investors' radars and offering something other than Vyvgart.
- Pipeline expansion includes ARGX-213, the next-generation Vyvgart, which could address some of Vyvgart's limitations and extend the patent life of the anti-FcRn franchise.
Shares of argenx (ARGX) have somewhat recovered from the negative reaction to the second late-stage clinical failure of Vyvgart in a row - phase 3 trial in immune thrombocytopenia ('ITP') and phase 3 trial in pemphigus vulgaris ('PV'). The recovery was probably driven by several factors - bargain hunters and the overall positive industry sentiment since early November and the company providing a bullish commercial and pipeline update ahead of and at the JPMorgan Healthcare Conference in early January.
As a reminder, I was bullish long-term but cautious about the near-term prospects ahead of the ITP and pemphigus vulgaris readouts of Vyvgart and believed the outlook has improved in late December despite the failure of both trials....
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For further details see:
argenx: Upgrading To 'Strong Buy' On Vyvgart's Q4 Sales, Empasiprubart Data, Pipeline Expansion