argenx - VYVGART® believe maintained despite rare setback
*In light of the ADVANCE-SC failure, we have decided to carve out ITP estimates from our model. As “good stewards of capital” making data-based decisions, we anticipate ARGX to forego the U.S. and EU opportunity and to allocate resources to follow-up indications. *We also adjusted our FY ‘23 VYVGART® sales revenue estimate to EUR 1.17bn (vs. EUR 1.15bn before): this implies EUR 355m for Q4 (in line with BB CSS), or 12.5% QoQ growth, taking into account the one-off related to German pricing in Q3 and the fact that VYVGART® supply to Zai Lab is not expected to recur everyArgenx 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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