argenx - Immunovant hit is a buying opportunity
Yesterday, ARGX's share price closed at EUR 450 (-5.6%) following Immunovant's positive initial Ph1 SAD and 300mg subcutaneous (SC) MAD results with IMVT-1420, an anti-FcRn for the treatment of IgG-mediated autoimmune diseases.Initial data from healthy volunteers indicating no significant reductions in albumin/increases in LDL-C mainly differentiates IMVT-1420 from Immunovant's own more advanced anti-FcRn batoclimab/IMVT-1401 as Efgar does not affect albumin homeostasis nor increases cholesterol. On the other hand, total IgG reduction of 63% is roughly in line with what was previously observed for ARGX's efgartigimod in Ph1 with reductions ranging from 50%-75% for SC and IV formulations, respectively. While weArgenx N.V. is a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer. Utilizing its suite of differentiated technologies, Co. is focused on developing product candidates with the potential to be either first-in-class against novel targets or best-in-class against known, but complex, targets in order to treat diseases with a significant unmet medical need.
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