ArgenX tops BEL 20 on 'blue-sky scenario' Vyvgart progress

argenx SE

20/11/2024 09:01

** Shares in ArgenX  ARGX.BR  rise 3.2% after the Belgian
biotech company announced progress in the development of its
flagship drug Vyvgart
    ** ArgenX said all three disease sub-types for Vyvgart Phase
II/III ALKIVIA in myositis will advance to Phase III
    ** KBC Securities ("accumulate"), Van Lanschot Kempen
("buy") and JPMorgan ("overweight") all see the update as
positive, the latter deeming it a "blue-sky scenario"
    ** JPM notes that positive myositis update "now clears they
way for investors to play the Vyvgart CIDP launch upside thesis
in 2025"
    ** Update shows strong proof-of-concept (POC) in myositis
"in a broad sense", Van Lanschot Kempen says
    ** KBC updates its estimates, raises PT by 16% to 615 euros
    ** Shares, which are on track for their best day in three
weeks, top Belgium's BEL 20 Index  .BFX  

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))