KBC Securities - ArGEN-X SE (ARGX) argenx FIRST LOOK: 1H24 results highlight strong Vyvgart sales engine

Report

KBC Securities

Thomas Vranken

argenx FIRST LOOK: 1H24 results highlight strong Vyvgart sales engine

argenx again beat consensus estimates for Vyvgart net product sales in 2Q24 to reach $ 478m and as CIDP is coming online, first indications appear positive. On the R&D side, the company provided a major update during the recent R&D Day, and reaffirms its commitment to US ITP patients with a new confirmatory study. While the company is coming closer to operational profitability, we maintain our €492 TP and Buy rating.

25/07/2024 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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: BARb BB, OPTI BB, GIMBb BB, VGP BB, MAAT FP

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