Report
Thomas Vranken

argenx FIRST LOOK: 1Q25 results confirm CIDP momentum

argenx reported a strong quarter with Vyvgart sales coming in at $ 790m, in line with CSS, showcasing the robustness of the commercial engine. We note that the company again reached operating profitability for the quarter. Pipeline timelines are reiterated and we look ahead to the upcoming readout in seronegative gMG (2H25), as well as PoC results in lupus nephritis (Vyvgart, 4Q25), delayed graft function (empa, 2H25) and congenital myasthenic syndrome (‘119, 2H25). Accumulate/ € 670 TP reiterated.
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.

Provider
KBC Securities
KBC Securities

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

 

Analysts
Thomas Vranken

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