Why Is European Drugmaker Argenx Stock Trading Higher On Monday?
Portfolio Pulse from Vandana Singh
Argenx SE (NASDAQ: ARGX) saw its stock rise by 12% following FDA approval of its drug Vyvgart Hytrulo for treating chronic inflammatory demyelinating polyneuropathy (CIDP). The drug, which is the first neonatal Fc receptor blocker approved for CIDP, showed significant clinical improvement in patients. The company projects substantial revenue growth from this approval.
June 24, 2024 | 4:43 pm
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POSITIVE IMPACT
Argenx SE's stock increased by 12% following FDA approval of Vyvgart Hytrulo for CIDP. The drug demonstrated significant clinical improvements and is expected to generate substantial revenue, with projections reaching $1.2 billion in the U.S. by 2030.
The FDA approval of Vyvgart Hytrulo for CIDP is a significant milestone for Argenx SE, leading to a 12% increase in stock price. The drug's demonstrated clinical improvements and substantial revenue projections indicate a positive short-term impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100