Brief: argenx Says Q4 Net Loss Was $99 Million

argenx SE

29/02/2024 06:06

Feb 29 (Reuters) - argenx SE  ARGX.BR :
    * ARGENX REPORTS FULL YEAR 2023 FINANCIAL RESULTS AND
PROVIDES
FOURTH QUARTER BUSINESS UPDATE
    * UPDATE ON PRE-FILLED SYRINGE DEVELOPMENT EXPECTED IN FIRST
HALF
OF 2024; ONGOING CLINICAL STUDIES EXPECTED TO SUPPORT POTENTIAL
APPROVAL IN GMG AND CIDP IN 2024
    * ON TRACK TO FILE FOUR INVESTIGATIONAL NEW DRUG (IND)
APPLICATIONS BY END OF 202
    * RECEIVED $30M MILESTONE FROM ABBVIE FOR ADVANCEMENT OF
ABBV-151
(ARGX-115) TO PHASE 2
    * COST OF SALES FOR Q4 AND FULL YEAR IN 2023 WAS $39 MILLION
AND
$118 MILLION
    * FINANCIAL INCOME FOR Q4 AND FULL YEAR IN 2023 WAS $40
MILLION
AND $107 MILLION, RESPECTIVELY
    * NET LOSS FOR Q4 AND FULL YEAR IN 2023, WAS $99 MILLION AND
$295
MILLION, RESPECTIVELY, COMPARED TO $39 MILLION AND $710 MILLION
OVER PRIOR YEAR PERIODS
    * ARGENX EXPECTS ITS COMBINED RESEARCH AND DEVELOPMENT AND
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES IN 2024 TO BE LESS
THAN $2 BILLION
    * ARGENX EXPECTS TO UTILIZE UP TO $500 MILLION OF NET CASH
IN 2024
ON THESE ANTICIPATED OPERATING EXPENSES AS WELL AS WORKING
CAPITAL AND CAPITAL EXPENDITURES

Source text for Eikon:  ID:nGNXbVmd6n 
Further company coverage:  ARGX.BR 

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