EU and US could reach trade deal this weekend - Reuters
Investing.com -- Argenx SE (NASDAQ:ARGX) reported $790 million in global product net sales for the first quarter of 2025, driven by strong growth in its VYVGART portfolio.
However, the company’s stock dropped over 10% on Thursday following the earnings release.
The sales result represents a 99% increase compared to the first quarter of 2024 and a 7% growth from the fourth quarter of 2024.
The increase was fueled by the continued commercial success of VYVGART, which is approved for generalized myasthenia gravis (gMG), chronic inflammatory demyelinating polyneuropathy (CIDP), and primary immune thrombocytopenia (ITP).
The launch of a pre-filled syringe for self-injection, approved in both the United States and Germany, has contributed to the product’s expanding use.
Despite the strong sales numbers, the company faced challenges in the market as concerns about its pipeline and future growth outlook surfaced.
Argenx noted progress in its efforts to expand VYVGART’s reach, with positive regulatory developments in Europe and expected approval decisions in Japan and Canada by the end of the year.
However, the stock’s drop suggests caution around the broader trajectory of the company’s portfolio, particularly given the early stage of several pipeline candidates.
Argenx’s pipeline includes 10 registrational and 10 proof-of-concept studies across therapies for autoimmune diseases, with topline data expected in the next few years.
While the company continues to advance multiple programs, including efgartigimod, empasiprubart, and ARGX-119, the uncertainty surrounding these trials appears to have tempered market expectations.
The company also announced the ongoing development of four new pipeline candidates, including therapies targeting FcRn and IgA, but did not provide detailed timelines on these assets’ potential contributions to future revenue.
Argenx’s broader strategy, which includes a goal to treat 50,000 patients across 10 indications by 2030, remains intact.