argenx CIDP Deep Dive
Yesterday argenx reported topline data for its CIDP readout, and provided more detail during a company webcast. We looked further into the details of the trial, and point out the trial's smart design, response rates across a broad spectrum of patients and strong long-term relapse rates on par with existing standards of care. As the company now moves toward regulatory filing, we look forward to more details on the commercial strategy in months to come. Following the readout, we have moved to a € 495 TP and Buy rating. On the back of the new data, argenx also launched a new global offering of $ 750m. In the prospectus, the company pointed to preliminary 2Q23 financials, including $ 269m Vyvgart net product sales (+16% vs CSS) and $ 2.0bn cash.Argenx 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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