Argenx Stock Drops 13% on Vyvgart Phase 3 Failure — SkimNews
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- Argenx said Thursday that the drug failed to outperform placebo in a Phase 3 trial of patients with Sjögren's disease, a chronic autoimmune disorder.
- Vyvgart, already a blockbuster for Argenx, was being tested for expansion into the Sjögren's indication.
- Argenx had racked up a series of wins in autoimmune disorders en route to becoming one of the world's largest biotechs by market cap, making the miss an unusual setback.
- Argenx's stock slipped 13% Thursday morning following the Phase 3 failure announcement.
Why it matters: Argenx's market-cap status among the world's largest biotechs has been built on a streak of autoimmune wins, and a Vyvgart failure in Sjögren's — its first high-profile Phase 3 miss — forces investors to reprice the drug's label-expansion pipeline. The 13% Thursday slide quantifies how much the market was pricing continued execution.
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