Argenx Halts Phase 3 Sjögren's Trial, Shares Plunge 14%
ARGX sits 20% above its 52-week low of $661.85.
Summary
Argenx discontinued the Phase 3 UNITY study of subcutaneous efgartigimod in Sjögren's disease after an interim analysis showed the trial was unlikely to meet its primary endpoint. The IDMC recommended stopping for futility, though no new safety signals emerged. Shares fell more than 14% premarket, reflecting the loss of a potential label expansion for Vyvgart. The setback overshadowed positive Phase 2 data for FB102 in celiac disease, the first readout since the $2.2B Forte acquisition. The market is pricing in reduced pipeline optionality despite the concurrent win.
At the time of this announcement, ARGX was trading at $795.20 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $59B. The 52-week trading range was $661.85 to $1,072.75. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.