Argenx SE (NASDAQ:ARGX), a leading global immunology company, recently announced the discontinuation of its Phase 3 UplighTED studies for efgartigimod subcutaneous (SC) in adults with moderate to severe thyroid eye disease (TED). This decision, advised by an Independent Data Monitoring Committee (IDMC) due to futility, marks a significant moment for the company despite efgartigimod's favorable safety profile.
Luc Truyen, M.D., Ph.D., Chief Medical Officer at Argenx, expressed disappointment over the trial's outcome but emphasized the importance of the futility analysis in responsibly managing resources. The company is set to conduct a comprehensive analysis of the data post-study closure to inform future TED research. The UplighTED studies aimed to assess the efficacy and safety of efgartigimod PH20 SC, focusing on proptosis and quality of life as primary and secondary endpoints.
Despite this setback, Argenx remains dedicated to advancing its portfolio of novel antibody-based medicines. The company continues to explore the potential of its therapies across multiple serious autoimmune conditions. Argenx's VYVGART, an FcRn blocker, has already been approved for other autoimmune conditions and is marketed globally under various names.
Financially, Argenx's stock has seen fluctuations. Stifel Nicolaus set a price target of $1,248 for ARGX, indicating a potential increase of approximately 40.26% from the current price of $849.52. The stock has experienced a decrease of about 3.24% or $28.43 recently, with a trading range between $827.52 and $853.96 during the day.
Over the past year, ARGX has reached a high of $934.62 and a low of $510.06, with a market capitalization of approximately $51.96 billion. Today's trading volume for ARGX on the NASDAQ is 488,913 shares, reflecting investor interest despite recent challenges in clinical trials.
