Argenx soars after drug efgartigimod met main goal in myositis trial
BUZZ-Argenx soars after drug efgartigimod met main goal in myositis trial ** Shares in argenx ARGX.BR jump 8.4% after the Belgian-Dutch immunology company said its drug efgartigimod met main goal in myositis trial
** The Phase 3 trial demonstrated rapid and sustained benefits over a placebo for two subtypes of the muscle-weakening disease, including in one that currently has no approved therapies
** Trial showed significant improvements in immune-mediated necrotizing myopathy (IMNM), a disease subtype lacking approved options, and showed clinical improvements in patients with the dermatomyositis (DM) subtype, though the smaller cohort did not reach statistical significance
** Kempen notes that the results enable filing for approval in IMNM, "which is where the unmet need is the highest and in line with the company's outlined priorities"
** KBC securities views IMNM as a "multi-billion dollar opportunity"
** The broker adds that "while disappointed that DM did not reach significance, we believe the magnitude of the treatment effect is compelling and supports future potential"
** Kempen also believes the results provide basis for a discussion with the regulator for a potential path to market in DM as well
** Shares are on track for their best day in more than a year; in July 2025, they had closed 13.6% higher
(Reporting by Lucie Barbier in Gdansk)