argenx Q3: VYVGART Sales Up 54% to $1.7B, FY26 Spend Guidance ~$4B
ARGX sits 29% above its 52-week low of $661.85 on elevated volume (1.9× avg).
Summary
argenx reported Q3 2026 VYVGART net sales of $1.7 billion, up 54% year over year, with $486 million operating profit and $506 million net profit. Cash stands at $3.7 billion after the $2.1 billion net Forte acquisition, and 2026 combined R&D and SG&A is guided to about $4 billion.
Key Events · Earnings and Guidance · ARGX
-
VYVGART Sales Hit $1.7B in Q3
Global product net sales were $1.721 billion, up 54% year over year from $1.127 billion and 13% quarter over quarter from $1.516 billion.
-
Operating Profit $486M, EPS $8.07
Operating profit was $486 million on a 28% margin and net profit $506 million, or $8.07 per basic share; excluding $150 million of Forte acquisition costs, adjusted operating margin was 37%.
-
Cash Falls to $3.7B After Forte Deal
Cash, cash equivalents and current financial assets totaled $3.7 billion at September 30, 2026 versus $4.4 billion at December 31, 2025, after paying approximately $2.1 billion net for Forte Biosciences.
-
2026 Spend Guidance ~$4B
Combined R&D and SG&A expenses are now expected to be approximately $4 billion for 2026, including Forte transaction-related costs.
Analysis · ARGX · Life Sciences
VYVGART net sales of $1.7 billion grew 54% year over year and 13% sequentially, producing $486 million of operating profit (28% margin) and $506 million of net profit, or $8.07 per basic share. The quarter absorbed roughly $150 million of Forte Biosciences acquisition costs, which is why adjusted operating margin was 37% versus 28% reported. Cash fell to $3.7 billion from $4.4 billion at year-end 2025 after paying about $2.1 billion net for Forte, and management now guides 2026 combined R&D and SG&A to approximately $4 billion including deal costs. The pipeline carries concrete near-term dates: empasiprubart Phase 3 MMN topline in December 2026, an IMNM sBLA by year-end, a pediatric gMG PDUFA of February 18, 2027, and FB102 moving to Phase 3 in celiac disease.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 36.7% of the 1017 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ARGX was trading at $854.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $55.6B. The 52-week trading range was $661.85 to $1,072.75. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.