KBC Securities - ArGEN-X SE (ARGX) argenx C.ontinuing I.mmune D.isease P.ipeline [CIDP]

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KBC Securities

Thomas Vranken

argenx C.ontinuing I.mmune D.isease P.ipeline [CIDP]

Today we issue a new company note on argenx, where we dive deeper into the upcoming CIDP readout. CIDP represents the second neuromuscular indication for efgartigimod following gMG. IVIg is the only approved treatment to date, showing a 30% improvement in relapse rate versus placebo in clinical trials. We take the latter as benchmark for argenx' CIDP trial, and translate this into three potential scenarios. Taking into account a 65% probability of success for CIDP, we increase our TP from € 420 to € 440 while maintaining a Buy rating.

06/07/2023 1 EN

Underlying

ArGEN-X SE

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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NL0010832176 Euronext Brussels Netherlands

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Thomas Vranken

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argenx C.ontinuing I.mmune D.isease P.ipeline [CIDP]

We are a financial services provider for several types of professional clients, each with distinct needs.

Dynamic Top Pick List Update February 2026: Removing ASMi; Adding UCB

Argen X SE: 1 director

argenx Vyvgart sBLA acceptance in seronegative gMG comes with priority review

Inventiva FIRST LOOK: preliminary FY25 results hold no surprises

Morning Notes : AGFB BB, DSFIR NA, IVA FP, MDXH BB

mdxhealth ExoDx boosts 2026 growth expectations

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