Biotech Values

[DewDiligence]

ARGX selling $575M* of stock—at unspecified price—on heels of 34% pop from phase-3 data in MG:

https://www.globenewswire.com/news-release/2020/05/26/2038913/0/en/argenx-announces-launch-of-proposed-global-offering.html

https://finance.yahoo.com/news/argenx-announces-positive-topline-results-050000572.html

argenx…today announced positive topline data from the pivotal ADAPT trial of efgartigimod. ADAPT met its primary endpoint defined as percentage of responders on the Myasthenia Gravis Activities of Daily Living (MG-ADL) score among acetylcholine receptor-antibody positive (AChR-Ab+) generalized myasthenia gravis (gMG) patients. Responders are defined as having at least a two-point improvement on the MG-ADL score for at least four consecutive weeks. Based on these results, argenx plans to submit a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) by the end of 2020.

*Assuming exercise of underwriter’s option.