Argenx Stock Breaches $300 Mark

(RTTNews) - Shares of argenx SE (ARGX) touched an all-time high of $311.27 in intraday trading yesterday, before closing at $303.33. The stock was trading around $25 when we alerted our premium subscribers to it on November 23, 2017, in our report titled "A Catalyst-rich Year Ahead!" Had you invested $1,000 in ARGX in November 2017, your investment would be worth $12,120 as of Dec.14, 2020, a gain of over 1,100% in 3 years.

argenx, based in the Netherlands, is a clinical-stage biopharmaceutical company developing differentiated antibody-based therapies for the treatment of severe autoimmune diseases, hematology and cancer. The company's lead product candidate is Efgartigimod, which according to the company, is a pipeline-in-a-product opportunity.

Efgartigimod is designed to target the protein Neonatal Fc receptor, or FcRn, thereby blocking the recycling of disease-causing immunoglobulin G, or IgG, leading to an elimination of IgG antibodies. The reduction of circulating IgG antibody levels results in clinically meaningful outcomes in autoimmune diseases.

The potential of Efgartigimod is being explored in the indications of generalized myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris and chronic inflammatory demyelinating polyneuropathy.

The company is on track to submit its first Biologics License Application for Efgartigimod in generalized myasthenia gravis (gMG) to the FDA this month. A regulatory submission for Efgartigimod is expected to be filed in Japan in the first half of 2021, with regulatory filing in the EU to follow suit.

Among other anticipated milestones, is the initiation of a global phase III trial of subcutaneous (SC) Efgartigimod for pemphigus (vulgaris and foliaceus), dubbed ADDRESS, which is planned for this month.

A phase II trial with Efgartigimod in the fifth rare disease indication is expected to be initiated by mid-2021. The indication is yet to be announced.

Next up in the pipeline is Cusatuzumab that works by inhibiting CD70, a protein on the surface of some cancer cells, thereby interrupting steps in the communication pathway that tells cancer cells to grow and divide. (Source: Memorial Sloan Kettering Cancer Center).

The company has a partnership with Cilag International, an affiliate of Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ) for the development of Cusatuzumab.

The most-advanced trial with Cusatuzumab is a phase II study in the indication of newly diagnosed, elderly patients with Acute Myeloid Leukemia who are ineligible for intensive chemotherapy, dubbed CULMINATE. The topline data from the CULMINATE trial are anticipated to be reported in early 2021.

The other compounds that are being developed by the company are ARGX-117, ARGX-118, and ARGX-119.

argenx ended September 30, 2020, with cash, cash equivalents and current financial assets of €1,804 million.

ARGX has traded in a range of $103.75 to $311.27 in the last 1 year. The stock is currently up 0.82% at $305.81.

Related Reading

Argenx's Impressive Journey From $25 To $140