Argenx soars as muscle weakening disease drug meets goal
Updates
** U.S. listed shares ofArgenx SE ARGX.O surge ~23% to $466 premarket; European shares ARGX.BR jump more than 25% to a record high of 423.3 euros
** TheBelgian pharmaceutical cosaid VYVGART Hytrulo, a treatment for chronic inflammatory demyelinating polyneuropathy (CIDP), met its main goal, with patients showing a 61% reduction in risk of relapse compared to placebo
** CIDP is a neurological disorder that involves progressive weakness and reduced senses in the arms and legs, and other auto-immune diseases
** Co's U.S. shares set to open at record high should premarket gains hold
** Jefferies predicts potential peak sales of more than $5 bln for the drug;"ARGX has several other pipeline products ... which represent potential additional upside"
** JP Morgan sees Vyvgart becoming the new standard of care for CIDP treatment; says Argenx will now likely see increased bid speculation priced in by the market
** U.S. shares of ARGX up 0.07% this year; ARGX's European shares up ~21% over the same period
Reporting by Dina Kartit in Gdansk and Susan Mathew in Bangaluru
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