Immunovant up as rival Argenx's neurological disorder drug meets main goal

Immunovant

17/07/2023 16:19

** Shares of drug developer Immunovant Inc  IMVT.O  rise
12.6% to $23.35 
    ** Argenx SE's  ARGX.O  VYVGART Hytrulo, a treatment for
chronic inflammatory demyelinating polyneuropathy (CIDP), met
main goal, with patients showing a 61% reduction in risk of
relapse compared with placebo  urn:newsml:reuters.com:*:nL8N3931SS
    ** CIDP is a neurological disorder that involves progressive
weakness and reduced senses in the arms and legs, and other
auto-immune diseases
    ** IMVT is developing batoclimab for the same indication,
and data from the mid-stage study of the drug is expected in
first half of 2024
    ** AGRX's data provides a significant indirect catalyst to
IMVT's batoclimab - Piper Sandler
    ** Including session gains, IMVT's stock has risen ~32% YTD 

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))