Argenx tops BEL 20 index, broker points to positive Vyvgart momentum

argenx SE

25/09/2024 20:27

(Updates with U.S. listed shares)
    ** Shares of Belgian biotech company Argenx  ARGX.BR  closed
3.5% higher at 485.10 euros, on Wednesday
        ** Stock topped Belgium's blue-chip BEL 20 index  .BFX  
    ** Analysts at brokerage KBC Securities say company's drug
Vyvgart is still the top contender, despite a positive trial
data from a competitor
    ** U.S.-listed shares of Argenx  ARGX.O  rose 4.6% to
$543.57 during the trading hours 
    ** Amgen  AMGN.O , late on Tuesday, reported favourable
late-stage data for its drug Uplizna to treat patients with a
rare muscle-weakening disease called myasthenia gravis
    ** "We deem the Uplizna dataset to be strong yet somewhat
less compelling than Vyvgart" - KBC
    ** "Vyvgart has shown strong effects already at week 4, and
thereby oversteps the efficacy of Uplizna at week 26" -
brokerage    
    ** Up to day's close, stock gained 41.2% YTD​


 (Reporting by Dimitri Rhodes and Puyaan Singh)
 ((Dimitri.Rhodes@thomsonreuters.com))