Argenx "2Q'26 Results - eyes on myositis" (Neutral) Deng

研报英文原文证据摘录

Argenx "2Q'26 Results - eyes on myositis" (Neutral) Deng

larger and longer study could increase the likelihood of achieving statistical

significance, with the caveat of risks in all clinical trials. Management has limited

comments on alpha allocation or specific statistical thresholds, but emphasised

that the analysis plans are independent and that each subtype has its own

opportunity to support approval. When asked about biological rationale in DM,

management commented that while interferon signalling is important,

autoantibodies remain a meaningful disease driver as seen from the signals in the

P2 study.

Empasiprubart: For empa in CIDP, when asked about the type of patients that are

enrolled in trials versus taking Vyvgart, management commented that patients

that do not adequately respond to Vyvgart might have more IgM-driven disease

biology, where empa could be a good option. In MMN, non-inferiority versus IVIg

remains the base case for success, with superiority representing upside. When

asked about potential readcross from riliprubart failure in CIDP, management

highlighted the importance in patient selection and trial execution for running a

successful CIDP trial.

Business development strategy: With over $5bn cash position as of end of Q2,

M&A/business development became an increasingly asked question. Argenx

evaluates both internal and external opportunities based on novel biology and

significant unmet patient need, and the same framework is used for internal

pipeline programmes. While historically focused on academic collaborations,

Argenx is increasingly evaluating opportunities from biotechnology companies.

Overall, Argenx remains focused on immunology and continues to build growth

into the next decade with and beyond FcRn, as demonstrated by programmes