ARGENX SE (ARGX)

argenx SE is a global immunology company that develops antibody-based medicines for severe autoimmune diseases. It was incorporated in the Netherlands in 2008 and converted to a Dutch European public company (Societas Europaea) in 2017. Its research and development is carried out through its wholly-owned subsidiary argenx BV, which holds all of the company's intellectual property. Its Vision 2030 goals are to treat 50,000 patients globally, secure 10 labeled indications across its approved medicines, and advance five pipeline candidates into Phase 3 by 2030. In 2025 it reported product net sales of $4.2 billion and research and development spending of $1.4 billion.

The commercial product is VYVGART (efgartigimod), an IgG Fc-antibody fragment that targets the neonatal Fc receptor (FcRn) and reduces IgG. It is sold in intravenous, subcutaneous (VYVGART HYTRULO, or VYVDURA in Japan) and prefilled syringe presentations. It is approved in more than 30 countries for generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy, and for immune thrombocytopenia in Japan. Efgartigimod is also being studied in more than ten additional autoimmune indications, including seronegative and ocular myasthenia gravis, primary ITP, myositis, Sjögren's disease and others. A supplemental filing for seronegative gMG has a PDUFA date of May 10, 2026. The pipeline also includes empasiprubart, a complement C2 inhibitor in Phase 3 for multifocal motor neuropathy and CIDP. Adimanebart, a MuSK agonist, is in Phase 3 for congenital myasthenic syndromes and Phase 2 for spinal muscular atrophy. Earlier programs include ARGX-213, ARGX-124, ARGX-109, ARGX-121, ARGX-118, ARGX-125 and TSP-101, from a research collaboration with Tensegrity Pharma. Candidates out-licensed to partners include cusatuzumab, ARGX-112, ARGX-114 and ARGX-115.

The company's Immunology Innovation Program, which pairs academic researchers with in-house antibody engineers, is the source of every candidate in its wholly owned and partnered pipelines and has over 25 active programs. Its technologies include the llama-based SIMPLE ANTIBODY platform and the NHANCE, ABDEG, POTELLIGENT and DHS Fc-engineering mutations. It also holds a non-exclusive research license and option from Chugai for the SMART-Ig and ACT-Ig technologies. Customers are patients with rare autoimmune neuromuscular and hematologic diseases, treated through physicians and healthcare systems. The company reaches them through its own sales forces in the U.S., Europe, Japan and Canada. In Greater China, Zai Lab holds an exclusive license from argenx, and argenx receives sales-based milestones and royalties from it. A Pre-Approval Access program supplies VYVGART to gMG patients in countries where it is not yet launched or reimbursed.

argenx had 1,863 full-time employees at the end of 2025. Its registered office is at Laarderhoogtweg 25, Amsterdam, the Netherlands. It expects to fund 2026 capital expenditure from operating cash flows and cash reserves.