Argenx tops BEL 20 index after Q3 beat

argenx SE

31/10/2024 09:07

** Shares in Argenx  ARGX.BR  rise 7.5% to all-time high
after the Belgian biotech company reported better-than-expected
Q3 results, reaching operating profitability
    ** Argenx reports a net profit of $91.41 million in the
third quarter, marking a turnaround from a $72.64 million loss
in the same period last year
    ** The company's total operating income also rose
significantly to $589.9 million, up from $339.84 million a year
ago
    ** "We note that the company reached operating profitability
for the quarter despite increased investments in R&D and SG&A"
KBC notes
    ** Argenx reports Vyvgart sales ($573 million) 8% above BBG
analyst consensus, showcasing the robustness of its commercial
engine, KBC Securities notes
   ** "In the pipeline, timelines are reiterated and we look
ahead to the upcoming go/no go decision for myositis by YE24 and
an update on the BP study", KBC adds
    ** Stock tops Belgium's blue-chip BEL 20 index  .BFX , and
is up 58.95% year to date​

 (Reporting by Canan Sevgili)
 ((canan.sevgili@thomsonreuters.com))