ARGX

To say that Argenx (NASDAQ: ARGX) is growing is an understatement. The drugmaker has delivered an impressive 18 consecutive quarters of revenue growth. Its sales soared 60% year over year in the second quarter of 2026 and 17% sequentially. Investors have recognized Argenx's success. The biotech stock is handily beating the overall market so far this year and has more than doubled over the last three years. But is Argenx still underrated? Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » There's no secret about where Argenx's revenue growth is coming from. The company's Vyvgart and Vyvgart Hytrulo therapies continue to gain momentum in treating severe autoimmune diseases. Vyvgart is approved in the U.S. for generalized myasthenia gravis (gMG) and in Japan for the treatment of immune thrombocytopenia (ITP). Vyvgart Hytrulo combines Vyvgart with recombinant human hyaluronidase PH20, Halozyme's (NASDAQ: HALO) drug delivery technology. It's also approved for gMG and for chronic inflammatory demyelinating polyneuropathy (CIDP). But Argenx's top line is only part of the story. The company reported earnings of $472 million in Q2, nearly double its profit from the prior year period. Its operating margins are expanding. Argenx CFO Karl Gubitz recently told Reuters that rivals in the gMG market were "all behind Vyvgart." Gubitz also noted that only about 20% of gMG patients are currently receiving novel biologics, leaving Argenx with significant room for future growth. Meanwhile, the CIDP market penetration for the Vyvgart franchise is only in its early stages. Argenx recently reported a big clinical win. On Aug, 17, 2026, the company announced positive results from a late-stage study evaluating Vyvgart Hytrulo for the treatment of autoimmune myositis, an autoimmune disease that affects around 100,000 people in the U.S. Management believes this indication represents a multibillion-dollar opportunity. More good news could be right around the corner. Argenx expects to report results from its Phase 3 study of empasiprubart in the treatment of multifocal motor neuropathy (MMN) in the fourth quarter of 2026. If those results look good, the company will be well-positioned to launch its second "pipeline-in-a-product." Argenx is scheduled to make four other important announcements next year. It plans to report top-line results from a pivotal study of Vyvgart in treating ITP in the first half of 2027 and from another pivotal study in treating Sjogren's disease in the second half. The company also expects to report results from two studies evaluating empasiprubart in treating CIDP in the second half of 2027. The recent acquisition of Forte Biosciences adds another promising candidate to Argenx's pipeline, the anti-CD122 antibody FB102. Argenx expects to announce results from a Phase 2 study of the experimental therapy for celiac disease and from a Phase 1b study for alopecia areata before the end of 2026. Is Argenx underrated? The verdict is "yes," according to Wall Street. Of the 23 analysts surveyed by S&P Global (NYSE: SPGI) in August, 20 rated the stock as a "buy" or "strong buy." The other three recommended holding Argenx. The 12-month price target for the stock reflects a potential upside of roughly 14%. Sure, Argenx looks expensive, with shares trading at 37.5 times forward earnings. However, growth stocks with significant opportunities usually command premium valuations. Given Vyvgart's expansion opportunities and its promising pipeline, I agree with analysts. Despite its tremendous success, Argenx remains an underrated biotech stock. Before you buy stock in Argenx Se, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Argenx Se wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $437,097!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,355,077!* Now, it’s worth noting Stock Advisor’s total average return is 978% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of September 2, 2026. Keith Speights has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Argenx Se and S&P Global. The Motley Fool has a disclosure policy. Argenx Has Delivered 18 Consecutive Quarters of Sales Growth -- but Is the Biotech Stock Still Underrated? was originally published by The Motley Fool

Study met primary endpoint of mean Total Improvement Score (TIS) at Week 52 in the combined study population of IMNM and DM patients (p=0.0011) Patient improvements observed early and sustained throughout study; consistent treatment effect across IMNM and DM First Phase 3 study to show statistically significant and clinically meaningful improvements in disease activity in IMNM, a subtype with no approved therapy SHANGHAI & CAMBRIDGE, Mass. & AMSTERDAM, August 17, 2026--(BUSINESS WIRE)--Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) and argenx (Euronext & NASDAQ: ARGX), today announced positive topline results from the ALKIVIA Phase 3 study evaluating VYVGART® Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) in adults with autoimmune myositis. Study met its primary endpoint (p=0.0011) In the combined immune-mediated necrotizing myopathy (IMNM) and dermatomyositis (DM) population, patients treated with efgartigimod demonstrated statistically significant and clinically meaningful 15.4 point greater improvement in mean Total Improvement Score (TIS) at Week 52 versus placebo (47.95 vs 32.56). Rapid and sustained treatment benefit In the combined population, patients treated with efgartigimod consistently showed improvements over placebo starting at Week 4 that were statistically significant and sustained through the full year of treatment, even with steroid tapering. Magnitude of clinical improvement consistent across both IMNM and DM In prespecified subtype analyses, the primary endpoint of Mean TIS at 52 weeks was also met in IMNM patients treated with efgartigimod (p=0.0048), with a 14.8 point greater improvement over placebo (45.05 vs 30.24). In DM, a similar clinically meaningful improvement of 14.5 points (p=0.1093) was observed (51.51 vs 36.96), though statistical significance was not reached in this smaller cohort. Clinical impact observed in both muscle and skin measures In both IMNM and DM, all six core set measures of TIS contributed to the treatment effect, each favoring efgartigimod over placebo, spanning muscle strength, everyday physical function, and disease activity beyond the muscle. In DM, improvement in skin disease activity was also observed. Efgartigimod was well-tolerated by patients in the ALKIVIA study. The observed safety profile was consistent with prior studies and the known safety profile of efgartigimod. "The Phase 3 ALKIVIA results demonstrate a clinically meaningful and statistically significant treatment benefit in the overall study population, including a significant improvement in patients with IMNM, a subtype with no approved therapies," said Rafael G. Amado, M.D., President, Head of Global Research and Development at Zai Lab. "For patients in China living with autoimmune myositis, these results offer hope for a new targeted treatment option that could meaningfully improve muscle strength, physical function and other manifestations of this debilitating disease. Zai Lab is proud to have participated in this global trial and looks forward to working with argenx to bring this therapy to patients in China as quickly as possible." "For decades, people living with autoimmune myositis have relied on corticosteroids and broad immunosuppression, and those with IMNM have had no approved option at all. These are the first Phase 3 results to show that precision targeting of FcRn with efgartigimod can deliver meaningful benefit in this disease," said Luc Truyen, M.D., Ph.D., Chief Medical Officer at argenx. "The patient response to efgartigimod was durable and multidimensional: separation from placebo emerged early and held through a full year of treatment, with a treatment effect of comparable magnitude in IMNM and DM. This confirms that pathogenic IgG autoantibodies are key drivers of autoimmune myositis. We are grateful to the patients, caregivers, and investigators who made this pioneering study possible." "For people living with myositis, the goal is straightforward: regain strength and function, and get off long-term steroids. Until now we have had limited targeted therapies to offer patients," said Rohit Aggarwal, M.D., M.S., Professor of Medicine and Co-Director of the Myositis Center at the University of Pittsburgh, and an ALKIVIA investigator. "IMNM is the most refractory form of this disease and many of these patients carry irreversible muscle damage, which makes meaningful improvement genuinely difficult to achieve. That is what makes these results so compelling and groundbreaking. In DM, the magnitude of improvement was comparable – and for a community where treatment options remain limited and the burden of chronic steroids is just as heavy, that matters. Together these results tell us that reducing pathogenic autoantibodies is clinically meaningful and a major step forward for patients who are in need of a targeted treatment." Detailed results from the ALKIVIA study will be presented at an upcoming medical meeting. Efgartigimod continues to be evaluated as a potential treatment in other autoimmune rheumatologic diseases, including Sjögren’s disease and systemic sclerosis. About the ALKIVIA Study The ALKIVIA study was a global, randomized, double-blind, placebo-controlled, multicenter, operationally seamless Phase 2/3 study of efgartigimod SC for the treatment of autoimmune myositis across IMNM, DM and PM. The ALKIVIA study enrolled 264 patients who had active disease and were on background treatment. Participants were randomized (1:1) to receive weekly injections of efgartigimod PH20 SC or matched placebo PH20 SC. The study was conducted in two phases, with an analysis of the Phase 2 portion of the clinical trial after the first 89 patients completed the study, followed by Phase 3. The Phase 3 study enrolled 175 patients and included a protocol-mandated corticosteroid taper throughout the study. The primary endpoint of Phase 3 was the mean Total Improvement Score (TIS) at the end of the treatment period of 52 weeks of all treated patients compared to placebo. Prespecified analyses evaluated the combined IMNM and DM population and each subtype separately. argenx has an exclusive license agreement with Zai Lab for the development and commercialization of VYVGART and VYVGART Hytrulo in Greater China. Through this agreement, Zai Lab recruited Chinese patients into the ALKIVIA trial. About Autoimmune Myositis Autoimmune myositis is a heterogenous disease spectrum with autoimmune-mediated pathophysiology, characterized by chronic inflammation and progressive muscle weakness, and in some subtypes by skin involvement and other extramuscular manifestations. Proximal muscle weakness is a hallmark clinical feature across subtypes. Approximately 100,000 people in the United States live with autoimmune myositis, including approximately 20,000 with IMNM and approximately 40,000 with DM. Up to 80 percent of patients report long-term disability despite treatment. There are currently no targeted treatments available, and care relies primarily on corticosteroids and broad immunosuppressants, which are associated with significant cumulative toxicity, including metabolic, cardiovascular, musculoskeletal and infectious complications. Advances in the understanding of autoimmune myositis biology have highlighted the central role of antibody-mediated immunity, with pathogenic IgG autoantibodies contributing to muscle fiber damage and extramuscular manifestations across subtypes. FcRn maintains circulating IgG levels by recycling IgG antibodies, including pathogenic autoantibodies. Efgartigimod is designed to selectively block FcRn, reducing pathogenic IgG autoantibodies while preserving other aspects of immune function. About VYVGART VYVGART® (efgartigimod alfa fcab) is a first-in-class human IgG1 antibody fragment that binds to the neonatal Fc receptor (FcRn), resulting in the reduction of circulating IgG autoantibodies. VYVGART Hytrulo® is a subcutaneous combination of efgartigimod alfa (VYVGART) and recombinant human hyaluronidase PH20 (rHuPH20), Halozyme’s ENHANZE® drug delivery technology to facilitate subcutaneous injection delivery of biologics. VYVGART is approved for generalized myasthenia gravis (gMG) and immune thrombocytopenia (Japan only). VYVGART Hytrulo is approved for gMG and chronic inflammatory demyelinating polyneuropathy (CIDP). VYVGART Hytrulo may be marketed under different proprietary names in other regions. About Zai Lab Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) is an innovative, research-based, commercial-stage biopharmaceutical company based in China and the United States. We are focused on discovering, developing, and commercializing innovative products that address medical conditions with significant unmet needs in the areas of oncology, immunology, neuroscience, and infectious disease. Our goal is to leverage our competencies and resources to positively impact human health. For additional information about Zai Lab, please visit www.zailaboratory.com or follow us at https://x.com/ZaiLab_Global. About argenx argenx is a global immunology innovation company committed to improving the lives of people suffering from severe autoimmune diseases. Partnering with leading academic researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class portfolio of novel antibody-based medicines. argenx developed and is commercializing the first approved neonatal Fc receptor (FcRn) blocker and is evaluating its broad potential in multiple serious autoimmune diseases while advancing several earlier stage experimental medicines within its therapeutic franchises. For more information, visit www.argenx.com and follow us on LinkedIn, Instagram, Facebook, and YouTube. Zai Lab Forward-Looking Statements This press release contains forward-looking statements about future expectations, plans, and prospects for Zai Lab, including, without limitation, statements regarding the prospects of and plans for development and commercialization of efgartigimod in Greater China, the safety and efficacy of efgartigimod, and the potential treatment of patients with autoimmune myositis and other autoimmune disorders in Greater China. These forward-looking statements may contain words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "plan," "possible," "potential," "will," "would," and other similar expressions. Such statements constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact or guarantees or assurances of future performance. Forward-looking statements are based on our expectations and assumptions as of the date of this press release and are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including but not limited to (1) our ability to successfully commercialize and generate revenue from our approved products, (2) our ability to obtain funding for our operations and business initiatives, (3) the results of clinical and pre-clinical development of our product candidates, (4) the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approvals of our product candidates, (5) risks related to doing business in China, and (6) other factors identified in our most recent annual and quarterly reports and in other reports we have filed with the U.S. Securities and Exchange Commission (SEC). We anticipate that subsequent events and developments will cause our expectations and assumptions to change, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Our SEC filings can be found on our website at www.zailaboratory.com and the SEC’s website at www.sec.gov. This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (Regulation 596/2014). View source version on businesswire.com: https://www.businesswire.com/news/home/20260817193010/en/ Contacts For more information, please contact:Zai Lab Investor Relations: Christine Chiou / Cyan Liu+1 (917) 886-6929 / +86 195 3130 [email protected] / [email protected] Zai Lab Media: Shaun Maccoun / Xiaoyu Chen+1 (857) 270-8854 / +86 185 0015 [email protected] / [email protected] argenx Media Contact: Colin [email protected] argenx Investor Contact: Alexandra [email protected]

Halozyme Therapeutics HALO reported second-quarter 2026 adjusted earnings of $2.28 per share, which comprehensively beat the Zacks Consensus Estimate of $1.82. Earnings rose 48.1% year over year. Total revenues in the second quarter increased 48% year over year to $481 million. Revenues also surpassed the Zacks Consensus Estimate of $410 million. The top-line growth was primarily driven by increased product sales and higher royalty payments. HALO received royalty payments from J&J JNJ for subcutaneous Darzalex (daratumumab) as well as argenx ARGX for Vyvgart Hytrulo. Several companies use Halozyme’s Enhanze technology to develop a subcutaneous formulation of their currently marketed drugs. The company has several marketed partnered drugs based on this technology, including the subcutaneous (SC) formulation of J&J’s Darzalex, argenx’s Vyvgart Hytrulo and Roche’s Phesgo. Shares of Halozyme were up in pre-market trading today owing to the better-than-expected results as well as the increased 2026 outlook. The stock has rallied 27.5% year to date compared with the industry’s increase of 4.4%. Image Source: Zacks Investment Research Halozyme’s top line comprises product sales, royalties and revenues under collaborative agreements. Royalty revenues totaled $307.7 million in the second quarter, up 50% from the year-ago quarter’s level. This was mainly due to the robust demand for JNJ's subcutaneous Darzalex and ARGX's Vyvgart Hytrulo, on which it earns royalties. Royalty revenues beat our model estimate of $277.2 million. Product sales were $129.6 million in the second quarter, up 59% from the year-ago quarter’s level. HALO has two commercial proprietary products, Hylenex and Xyosted, with the latter acquired from Antares Pharma in 2022. Product sales beat our model estimate of $99.3 million. Revenues under collaborative agreements were $43.6 million in the reported quarter, up almost 13.2% year over year. Adjusted EBITDA was $328.8 million in the reported quarter, compared with $225.5 million in the year-ago quarter. Halozyme had cash, cash equivalents and marketable securities of $231.9 million as of June 30, 2026, compared with $320.9 million as of March 31, 2026. Halozyme raised its total revenue guidance for 2026. The company now expects total revenues in the range of $1.84 billion to $1.91 billion for 2026, compared with the previous expectation of $1.71 billion to $1.81 billion. Total revenues are expected to grow due to increased royalty revenues and higher product sales from API. Royalty revenues are now anticipated in the range of $1.22-$1.25 billion versus the earlier projection of $1.13-$1.17 billion. Adjusted EBITDA is expected in the range of $1.23-$1.28 billion, compared with the earlier projection of $1.13-$1.21 billion. Adjusted earnings are now expected in the range of $8.65-$9.00 per share in 2026, up from $7.75-$8.25 per share guided earlier. Halozyme’s adjusted earnings per share guidance included the impact of approximately $60 million related to the recent Hypercon and Surf Bio investment. The adjusted earnings per share guidance does not consider the impact of potential future share repurchases. Halozyme Therapeutics, Inc. price-consensus-eps-surprise-chart | Halozyme Therapeutics, Inc. Quote Halozyme currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the biotech sector is Liquidia Corporation LQDA, currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have risen from $2.97 to $3.02, while estimates for 2027 have increased from $4.81 to $5.31 during the same time. LQDA shares have surged 159.3% year to date. Liquidia’s earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 54.40%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report Johnson & Johnson (JNJ) : Free Stock Analysis Report argenex SE (ARGX) : Free Stock Analysis Report Liquidia Corporation (LQDA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. OmniAb Inc (NASDAQ:OABI) reported a strong second quarter with total revenue of $13.4 million, a significant increase from $3.9 million in the same period last year, driven by higher milestone revenue. The company's partner portfolio has advanced significantly, with two programs (rimantomib and persentabartosentican) jumping from Phase 1 directly into Phase 3 during Q2, highlighting the potential of its technology. OmniAb Inc (NASDAQ:OABI) is the only company in the world with a transgenic chicken platform that creates fully human antibody sequences, providing a unique competitive advantage for targeting conserved or difficult-to-drug targets. The company is seeing increasing partner interest and signed new agreements with Argenx and Rosa Therapeutics, indicating strong demand for its OmniChicken and OmniDab platforms. OmniAb Inc (NASDAQ:OABI) improved its net loss to $5.9 million in Q2 2026, compared to a net loss of $15.9 million in the year-ago period, and raised its full-year 2026 revenue guidance to $32 million-$36 million. The company's cash position grew to $52 million in Q2, and it expects to end 2026 with $37 million-$41 million in cash, reflecting improved financial management and operational efficiencies. OmniAb Inc (NASDAQ:OABI) is seeing strong adoption of its Omni Ultra technology, which opens new markets for ultra-long CDRH3 antibodies and peptides, driving inbound interest and potential new applications. The company's exploration platform is gaining traction with the sale of two instruments in Q2, and management believes it can become a meaningful complement to the antibody business with durable revenue streams. OmniAb Inc (NASDAQ:OABI) is well-positioned to benefit from AI and machine learning trends, leveraging its OmniDeep suite and exploration platform to generate proprietary data for novel target discovery. OmniAb Inc (NASDAQ:OABI)'s revenue is heavily dependent on milestone payments, which can vary significantly from quarter to quarter, making financial results lumpy and less predictable. The company still faces a significant gap between its operating expenses and revenue, with expected 2026 GAAP operating expenses of $84 million-$88 million versus revenue of $32 million-$36 million. OmniAb Inc (NASDAQ:OABI) continues to operate at a net loss, with a year-to-date net loss of $13.6 million, and relies on future milestones and royalties to close the funding gap. The exploration platform's revenue contribution is still early-stage, with only four instruments in the field, and management notes it is too early to discuss consumables or consistent sales cadence. The company's cash runway, while improved, is still limited, and it may need to seek external funding if milestone payments or partner progress do not materialize as expected. OmniAb Inc (NASDAQ:OABI) faces potential delays in partner programs, as seen with the need for additional preclinical work for certain antibody programs, which could slow the progression of its pipeline. The company's revenue guidance for the back half of 2026 implies lower quarterly revenue, reflecting the front-end loading of milestone achievements and potential conservatism in guidance. OmniAb Inc (NASDAQ:OABI) is still in a period where royalties are not yet a significant revenue stream, and the transition to royalty-based income depends on partner programs advancing to potential approvals. Warning! GuruFocus has detected 3 Warning Signs with OABI. Is OABI fairly valued? Test your thesis with our free DCF calculator. Q: Given the strong quarter and the raised guidance, how should we think about closing the gap between current spend and expected revenues? Will you continue to self-fund, or will you need to draw funds from outside?A: Matt Foehr (CEO) and Kurt (CFO) expressed strong confidence in the company's position, highlighting $340 million in potential milestones tied to late-stage assets and a robust flow of new deal interest. Kurt detailed that the company started the year with $54 million in cash and expects to burn only about $15 million in 2026, providing a long runway. He emphasized that as the clinical milestone base grows and matures, it will generate more milestones, and with a scalable infrastructure keeping expenses tight, additional revenue will drop to the bottom line, naturally closing the gap over time. Q: Can you provide color on how the number of post-discovery preclinical programs has evolved over the last six months and how you see that group growing through the end of the year?A: Matt Foehr (CEO) noted continued "nice progression" and "graduation" of programs across all stages, from discovery to preclinical and into the clinic. He confirmed that four new programs entered the clinic this year, with more expected before year-end. He also mentioned that recent regulatory guidance changes around preclinical work for certain antibody programs could serve as a long-term tailwind, particularly for smaller partners, potentially accelerating the path to clinical entry. Q: Regarding the Exploration platform, what are you seeing from a utilization standpoint, and how is the sales pipeline shaping up? Will sales remain lumpy, or are you starting to see a more consistent cadence?A: Matt Foehr (CEO) stated the team remains "very excited" about the Exploration opportunity, with growing conviction that it will be a meaningful complement to the antibody business. He confirmed two units were sold in Q2, bringing the total to four in the field, but noted it's still early to discuss consumables trends. Amechi (President) added that differentiated life sciences instruments like the Exploration Platform have the potential to create diverse and durable revenue streams, including instruments, consumables, software, and service, with more details to be shared at the upcoming Investor Day. Q: With the improved funding environment for pharma and biotech, are you seeing that benefit already, or is there a lag? When might those dollars start to flow to you?A: Matt Foehr (CEO) observed "very nice growth in partners and programs net of attrition" over the last couple of years. He noted that larger partners are taking "bigger swings" at major indications with substantial unmet need, and there's an uptick in smaller, well-funded partners as well. He highlighted new licenses with Rosa Therapeutics and Argenix as examples of both emerging and global-leading partners ramping up activity, indicating the improved funding environment is already translating into new business. Q: How should we think about the relative impact of Exploration sales on margins as that product ramps up?A: Kurt (CFO) explained that the company has "very good margins on the instrument and even better margins on the consumables." He cautioned that quarterly margins could vary based on the mix of instrument, consumable, and service revenue, but emphasized that the overall margin profile is expected to remain strong and continue. Q: Has Omni Ultra been a big focus in partner conversations? What has the feedback been, and how do you see its contribution to new deals over the next 12-18 months?A: Matt Foehr (CEO) stated that Omni Ultra is "absolutely opening new markets" and driving substantial inbound interest, alongside OmniAb. He highlighted its dual modality for antibodies and peptides, and its applicability in high-value areas like ion channels and GPCRs, as well as for brain shuttling and multi-specifics. He expressed pleasure with the dialogue and the signing of new programs, expecting to share more as partners begin discussing data. Q: The raised guidance implies lower revenue in the back half of the year. How much of that is conservatism versus one-off dynamics in the front half?A: Kurt (CFO) clarified that milestone achievements are "front end loaded for 2026," which is the primary driver of the revenue pattern. He emphasized there is nothing negative happening in other revenue lines; in fact, service revenue is expected to be better in 2026 than in 2025. He declined to provide more granular guidance but indicated the back-half expectations are based on the current visibility of milestone timing. Q: Can you provide color on your portfolio's exposure to lab-in-the-loop and AI for antibody drug discovery? How is OmniAb leveraging that, and to what extent is it influencing the business now?A: Matt Foehr (CEO) reiterated the company's strong belief in AI as a tailwind, referencing the OmniDeep brand launched over three years ago. He explained that AI/ML tools are woven throughout the technology stack, starting with proprietary, high-quality input data from transgenic animalstermed "biological intelligence." The Exploration platform generates massive datasets of hits and misses that feed deep learning models to suggest new hits, driving efficiency. He sees this as a powerful combination for navigating the growing number of novel targets, accelerating drug discovery. Q: How do you feel about the pace of deal flow going forward? Is this a model that accelerates with time, or stays steady with greater value? How should we think about the OmniAb model on a 3-5 year horizon?A: Matt Foehr (CEO) pointed to the company's track record of growing programs and partners net of attrition even during industry headwinds, which speaks to the differentiation of its technologies. He highlighted that partners are progressing programs into the clinic, with some late-stage programs described as "pipeline in a product." He emphasized that while milestones will continue to grow, the layering in of royaltiesmany of which are tieredwill add significant power to the model over the long term. Q: Congratulations on the Exploration sales. Given the few in the ecosystem, what are you seeing from a utilization standpoint?A: Matt Foehr (CEO) reiterated excitement about the Exploration opportunity, noting it's contributing to revenue growth. While it's still early to discuss consumables, he confirmed two units were sold in the quarter, bringing the total to four in the field. Amechi (President) added that the platform has the potential to create diverse, durable revenue streams, and the company will share For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. argenx stock has delivered a very strong 202.6% return over the past five years, yet its current valuation checks point to a more mixed picture rather than a clear bargain or clear overvaluation. With the share price around US$789.80 and expectations building around its immunology pipeline and recent deals, investors are weighing how much of that story is already reflected in the valuation. A 202.6% five year return shows argenx has already rewarded long term holders, which raises the bar for any further upside to be justified by fundamentals. The planned US$2.2b acquisition of Forte Biosciences and the push to broaden Vyvgart indications can support long term revenue expectations. At the same time, integration risk and execution across a larger pipeline may limit how much investors are prepared to pay today. A value score of 4 out of 6 suggests argenx screens as neither plainly cheap nor clearly expensive on the wider set of valuation checks. The issue now is whether argenx's current price already reflects its growth ambitions in immunology or still leaves room for further return over time. argenx delivered 54.3% returns over the last year. See how this stacks up to the rest of the Biotechs industry. P/E is a useful check for argenx because it already reports earnings and is valued as a commercial immunology business rather than a purely early stage biotech. On this measure, argenx trades on a P/E of about 32.7x, which is above the broader biotech industry average of roughly 25.8x but below the peer group average of about 67.5x. The Fair P/E Ratio for argenx is estimated at around 37.6x, based on its size, profitability profile and risk. That is higher than today’s 32.7x, which suggests some headroom before the multiple would line up with this tailored benchmark. Despite the recent Forte Biosciences acquisition announcement raising interest in argenx and its pipeline, the current P/E still sits at a discount to the level suggested by this fair value yardstick. On balance, argenx stock appears undervalued on the P/E multiple compared with the Fair Ratio benchmark. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives for argenx pick up where this valuation puzzle leaves off. They explain what would need to be true about argenx's future growth, margins and earnings for the stock to be worth materially more or less than today’s price. Each narrative focuses on the assumptions behind its fair value so you can compare those with how the business actually performs over time. The community is split on argenx, with one camp seeing meaningful upside left in the story and the other warning the stock already bakes in a lot of good news. Bull case: 11% undervalued Read the full Bull Case to see why argenx could be undervalued Bear case: 15% overvalued Read the full Bear Case to see why argenx could be overvalued Do you think there's more to the story for argenx? Head over to our Community to see what others are saying! argenx screens as undervalued on its current P/E relative to the tailored fair multiple, yet the broader valuation checks sit in a mixed zone rather than clearly cheap. That combination leaves the stock looking more like a balanced risk and reward trade off rather than a straightforward value idea. The key question from here is whether argenx can deliver on its immunology pipeline and manage the Forte Biosciences integration cleanly enough for earnings and confidence to grow into, or beyond, the current multiple. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ARGX.BR. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Strong second quarter performance with $1.5 billion in global product net sales, representing 60% year-over-year growth and 17% quarter-over-quarter growth Successfully launched VYVGART and VYVGART Hytrulo in anti-AChR antibody negative (“seronegative”) gMG, expanding patient reach to all gMG serotypes Registrational autoimmune myositis study readout on track for 3Q26, marking a key milestone for VYVGART expansion into rheumatology Registrational MMN study readout for empasiprubart on track for 4Q26, supporting a second pipeline-in-a-product opportunity Management to host conference call today at 2:30 PM CET (8:30 AM ET) July 23, 2026 7:00 AM CET Amsterdam, the Netherlands - argenx SE (Euronext & Nasdaq: ARGX), a global immunology innovation company, today announced its half year 2026 results and provided a second quarter business update. “Our strong second quarter performance reflects continued execution of our Vision 2030 strategy and our commitment to accelerate immunology innovation,” said Karen Massey, Chief Executive Officer. “During the quarter, we further strengthened our leadership in FcRn with the launch of the expanded label for VYVGART and VYVGART Hytrulo to now include all gMG serotypes, providing physicians with a single treatment option for the broadest adult gMG patient population. With important registrational study readouts in the second half, as well as continued progress with our early-stage pipeline, we are advancing the next wave of innovation, reinforcing our ambition to build a leading multi-asset immunology company.” Vision 2030argenx continues to advance its ‘Vision 2030’ anchored in the ambition to treat 50,000 patients globally with its medicines, secure 10 labeled indications, and progress five pipeline candidates into registrational development by 2030. Expanding global VYVGART opportunity and shaping the long-term future of FcRnVYVGART® (IV: efgartigimod alfa-fcab; SC: efgartigimod alfa and hyaluronidase-qvfc) is the first-and-only approved treatment for all serotypes of adult patients living with generalized myasthenia gravis (gMG). It is also approved for chronic inflammatory demyelinating polyneuropathy (CIDP) globally, and primary immune thrombocytopenia (ITP) in Japan. As the leading targeted biologic in MG and CIDP, argenx is progressing multiple label expansions while building the future of FcRn by advancing novel FcRn pipeline candidates and new delivery modalities. Generated $1.5 billion in global product net sales in the second quarter of 2026, representing 17% quarter-over-quarter growth, and a year-over-year increase of 60% or $0.6 billion Launched expanded label for VYVGART and VYVGART Hytrulo® in the U.S., which now includes all gMG serotypes (anti-AChR-Ab positive, anti-MuSK-Ab positive, anti-LRP4-Ab positive, and triple seronegative) On track with plans to expand VYVGART into ocular myasthenia gravis (oMG) following positive ADAPT OCULUS results Topline results from registrational ALKIVIA study (myositis) expected in third quarter of 2026 Topline results from registrational ADVANCE-NEXT study (primary ITP) expected in first half of 2027 Topline results from registrational UNITY study (Sjogren’s disease) expected in second half of 2027 Registrational study in Graves’ disease (GD) ongoing, expanding development into thyroid-driven autoimmunity VYVGART SC autoinjector positioned to launch in 2027 for all approved indications Progressing two future FcRn molecules: ARGX-213, designed for monthly dosing, is Phase 3 ready, and ARGX-124 is expected to complete Phase 1 evaluation by end of 2026 Advancing empasiprubart, argenx’s second pipeline-in-a-product opportunityEmpasiprubart (anti-C2) is argenx’s second pipeline-in-a-product opportunity and is being evaluated in registrational studies in multifocal motor neuropathy (MMN) and CIDP, and in a combination study with VYVGART in gMG. Topline results from registrational EMPASSION study (MMN) expected in fourth quarter of 2026 Topline results from registrational EMVIGORATE and EMNERGIZE studies (CIDP) expected in second half of 2027 Data from Phase 2 VARVARA study (delayed graft function, DGF) support further evaluation of empasiprubart in transplant setting based on signal at 52 weeks Advancing ADAPT-Forward combination study, evaluating empasiprubart as a potential add-on therapy to efgartigimod in gMG Delivering next wave of immunology innovationBy the end of 2026, argenx expects to have ten molecules in clinical development across its immunology pipeline, including adimanebart (MuSK agonist), ARGX-121 (anti-IgA), ARGX-109 (anti-IL-6) and additional candidates emerging from the Immunology Innovation Program. Together, these programs support argenx's goal of building a durable pipeline of differentiated medicines. Phase 2 study of adimanebart in spinal muscular atrophy (SMA) ongoing; registrational study in congenital myasthenic syndromes (CMS) expected to begin in 2026 Phase 2 study of ARGX-121 in IgA nephropathy (IgAN) expected to start in 2026 First-in-human Phase 1 study of TSP-101 (Fn14 inhibitor) is ongoing ARGX-118 (Galectin-10 inhibitor) and ARGX-125 (first-in-class bispecific antibody against an undisclosed target) are on track to enter Phase 1 studies in 2026 SECOND QUARTER 2026 FINANCIAL RESULTS argenx SEUNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS *Comparative figures have been aligned with the presentation adopted in the current period, reflecting the combination of research and development expenses and loss from investment in a joint venture. DETAILS OF THE FINANCIAL RESULTS Total operating income for the three and six months ended June 30, 2026, was $1.5 billion and $2.9 billion, respectively, compared to $1.0 billion and $1.8 billion, respectively, for the same periods in 2025, and mainly consists of: Product net sales of VYVGART for the three and six months ended June 30, 2026, were $1.5 billion and $2.8 billion, respectively, compared to $0.9 billion and $1.7 billion, respectively, for the same periods in 2025. Other operating income for the three and six months ended June 30, 2026, was $26 million and $41 million, respectively, compared to $19 million and $36 million, respectively, for the same periods in 2025. The other operating income for the three and six months ended June 30, 2026 and 2025, primarily relates to research and development tax incentives and payroll tax rebates. Total operating expenses for the three and six months ended June 30, 2026 were $1.0 billion and $2.0 billion, respectively, compared to $0.8 billion and $1.4 billion, respectively, for the same periods in 2025, and mainly consist of: Cost of sales for the three and six months ended June 30, 2026, was $145 million and $266 million, respectively, compared to $111 million and $192 million for the same periods in 2025, respectively. The cost of sales was related to the sale of VYVGART. Research and development expenses for the three and six months ended June 30, 2026, were $0.5 billion and $0.9 billion, respectively, compared to $0.3 billion and $0.6 billion, respectively, for the same periods in 2025. The research and development expenses mainly relate to advancing efgartigimod, empasiprubart, and adimanebart across multiple registrational studies, plus early-stage pipeline and preclinical programs. Selling, general and administrative expenses for the three and six months ended June 30, 2026, were $0.4 billion and $0.8 billion, respectively, compared to $0.3 billion and $0.6 billion, respectively, for the same periods in 2025. The selling, general and administrative expenses mainly relate to professional and marketing fees linked to the global commercialization of the VYVGART franchise, and personnel expenses. Financial income for the three and six months ended June 30, 2026, was $48 million and $92 million, respectively, compared to $38 million and $76 million, respectively, for the same periods in 2025. Income tax for the three and six months ended June 30, 2026 and 2025 is detailed below: Profit for the three and six-month periods ended June 30, 2026, was $0.5 billion and $0.8 billion, respectively, compared to a profit of $0.2 billion and a loss of $0.4 billion, respectively, for the same periods in 2025. The basic profit per share was $7.58 for the three months ended June 30, 2026, compared to a basic profit per share of $4.02 for the same period in 2025. The basic profit per share was $13.47 for the six months ended June 30, 2026, compared to a basic loss per share of $6.80 for the same period in 2025. Cash flow from operating activities for the six months ended June 30, 2026 was $0.7 billion compared to a cash flow used in operating activities for the same period in 2025 of $0.4 billion. Cash, cash equivalents and current financial assets1  consisted of $3.6 billion in cash, cash equivalents and $1.6 billion in current financial assets which totaled $5.2 billion as of June 30, 2026, compared to $3.5 billion in cash and cash equivalents and $0.9 billion in current financial assets which totaled $4.4 billion as of December 31, 2025. EXPECTED FINANCIAL CALENDAR October 22, 2026: Third Quarter 2026 Financial Results and Business Update February 25, 2027: Full-year 2026 Financial Results and Fourth Quarter 2026 Business Update CONFERENCE CALL DETAILSThe half-year 2026 financial results and second quarter business update will be discussed during a conference call and webcast presentation today at 2:30 PM CET/8:30 AM ET. A webcast of the live call may be accessed on the Investors section of the argenx website at argenx.com/investors. Participants can access the conference call by dialing 800-590-8290 (United States and Canada) or 240-690-8800 (International). Country specific dial-in numbers are listed below: Belgium                32 2290 4635France                        33 172 001717Netherlands                31 20 795 2683United Kingdom        44 203 393 1560Japan                        81 3 4520 9761Switzerland                41 43 210 51 68 Use the access code 3810049 to join the call. Please dial in 15 minutes prior to the live call. A replay of the webcast will be available on the argenx website. About VYVGART VYVGART® (efgartigimod alfa fcab) is a first-in-class human IgG1 antibody fragment that binds to the neonatal Fc receptor (FcRn), resulting in the reduction of circulating IgG autoantibodies. VYVGART Hytrulo® is a subcutaneous combination of efgartigimod alfa (VYVGART) and recombinant human hyaluronidase PH20 (rHuPH20), Halozyme’s ENHANZE® drug delivery technology to facilitate subcutaneous injection delivery of biologics. VYVGART is approved for generalized myasthenia gravis (gMG) and immune thrombocytopenia (Japan only). VYVGART Hytrulo is approved for gMG and chronic inflammatory demyelinating polyneuropathy (CIDP). VYVGART Hytrulo may be marketed under different proprietary names in other regions. About argenxargenx is a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases. Partnering with leading academic researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class portfolio of novel antibody-based medicines. argenx developed and is commercializing the first approved neonatal Fc receptor (FcRn) blocker and is evaluating its broad potential in multiple serious autoimmune diseases while advancing several earlier stage experimental medicines within its therapeutic franchises. For more information, visit  www.argenx.com  and follow us on LinkedIn, Instagram, Facebook, and YouTube. This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (Regulation 596/2014). ContactsMedia:Ben [email protected] Investors:Alexandra Roy [email protected] Forward Looking StatementsThe contents of this announcement include statements that are, or may be deemed to be, “forward-looking statements.” These forward-looking statements generally can be identified by the use of forward-looking words, such as “aim”, “anticipate”, “aspire”, “believe”, “can”, “continue”, “could”, “estimate”, “expect”, “entail”, “forecast”, “future”, “goals”, “hope”, “intend”, “is designed to”, “likely”, “may”, “might”, “objective”, “plan”, “possible”, “potential”, “pursue”, “project”, “predict”, “seek”, “should”, “strategy”, “target”, “will” and other words and terms of similar meaning and expression, including in connection with any discussion of future operating or financial performance. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. argenx’s actual results may differ materially from those predicted by the forward-looking statements as a result of various important factors, including but not limited to, the initiation, timing, progress, development and results of preclinical and clinical trials of argenx’s product candidates, including new indications, alternative dosing regimens, treatment modalities, and methods of administration, including statements regarding when results or interim analysis of the clinical trials will be available or made public; the expansion of argenx’s business, including the further development of argenx’s sales and marketing abilities and its Immunology Innovation Program, and the value of its pipeline; the potential attributes, benefits, and side effects of argenx’s products and product candidates, including new indications, alternative dosing regimens and treatment modalities, and their competitive position with respect to other alternative treatments; argenx’s ability to advance product candidates into, and successfully complete, clinical trials; argenx’s estimates of the number of patients who suffer from the diseases it is targeting and the number of patients that will enroll in its clinical trials; the demand and commercialization of argenx’s products and product candidates, including new indications, alternative dosing regimens, treatment modalities, and methods of administration, if approved; the anticipated timing or likelihood of market or regulatory decisions relating to or of argenx’s products, including new indications, alternative dosing regimens, treatment modalities, and methods of administration; the anticipated pricing and reimbursement of argenx’s products and product candidates, if approved; argenx’s plans to have various programs to help patients afford its products, including patient assistance and co-pay coupon programs for eligible patients; argenx’s ability to establish sales, marketing and distribution capabilities for any of its products and product candidates that achieve regulatory approval; argenx’s regulatory strategy and its ability to establish and maintain manufacturing arrangements for its products and product candidates; the scope and duration of protection, including any exclusivity period, argenx is able to establish and maintain for intellectual property rights covering its products and product candidates, platform and technology, including its intention to seek patent term extensions where available; argenx’s estimates regarding expenses, future revenues, cash flow, capital requirements and its needs for additional financing; argenx’s expectation that it will benefit from the Belgian innovation income deduction; argenx’s financial performance, including potential volatility in the price of its ordinary shares and American Depositary Shares; the competition argenx faces in its drug discovery, development, and commercialization efforts; the rate and degree of market acceptance of argenx’s products and product candidates, if approved, by its patients as safe, effective and cost-effective; the potential benefits of argenx’s current collaborations, including the possibility to access partner technology platforms or capabilities; argenx’s plans and ability to enter into or maintain current collaborations for additional programs or product candidates; argenx’s plans and ability to enter into or maintain current new distribution partnerships; argenx’s long-term growth strategy to develop and market additional products and product candidates, including efgartigimod for new indications, empasiprubart and adimanebart; the impact of government laws and regulations, including tariffs, export controls, sanctions and other regulations on argenx’s business; argenx’s expectations with respect to the timing and amount of any dividends (if any); argenx’s plans regarding its supply chain, including its reliance on third parties, service providers and manufacturers; inflation and deflation and the corresponding fluctuations in interest rates; regional instability and conflicts; and argenx’s business strategies, including Vision 2030, plans, projects, goals and targets and the timing, outcomes and benefits thereof. A further list and description of these and other risks, uncertainties, and factors that could cause actual results to differ materially from those referred to in the forward-looking statements can be found in argenx’s U.S. Securities and Exchange Commission (SEC) filings and reports, including in argenx’s most recent annual report on Form 20-F filed with the SEC as well as subsequent filings and reports filed by argenx with the SEC. Given these risks and uncertainties, the reader is advised not to place undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this press release. argenx undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law. Alternative Performance Measures StatementIn this document, argenx's financial results are provided in accordance with IFRS® Accounting Standards (IFRS) and using a non-IFRS financial measure, cash, cash equivalents and current financial assets. This value should not be viewed as a substitute for the company’s IFRS financial information and is provided as a complement to financial information provided in accordance with IFRS and should be read in conjunction with the most directly comparable IFRS financial information as set out below. Management believes this non-IFRS financial measure is useful for securities analysts, investors and other interested parties to gain a more complete understanding of the company's available financial liquidities given that the company’s current financial assets are held in term accounts with an initial maturity of more than three months but less than twelve that may be used to meet its financial obligations. Such non-IFRS financial information, as calculated herein, may not be comparable to similarly named measures used by other companies and should not be considered comparable to IFRS financial measures. Non-IFRS financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, an analysis of the company's financial results as reported under IFRS. A reconciliation of the IFRS financial information to non-IFRS financial information is included below: Cash, cash equivalents and current financial assets totaled $5.2 billion as of June 30, 2026, compared to $4.4 billion as of December 31, 2025. The balance as of the period ended June 30, 2026 consisted of $3.6 billion in cash, cash equivalents and $1.6 billion in current financial assets and the balance as of the period ended December 31, 2025 consisted of $3.5 billion in cash and cash equivalents and $0.9 billion in current financial assets. 1 A non-IFRS Alternative Performance Measure (APM). Refer to the “Alternative Performance Measures Statement” below for a reconciliation to the IFRS financial information.

This article first appeared on GuruFocus. Product Net Sales: $1.5 billion for Q2 2026, 60% year-over-year growth, 17% quarter-over-quarter growth. US Product Net Sales: $1.3 billion, 15% quarter-over-quarter growth. Japan Product Net Sales: $102 million, 55% quarter-over-quarter growth, including a $25 million one-off benefit. Operating Expenses: $1 billion for Q2 2026, an increase of $129 million from Q1. R&D and SG&A Investment: $903 million in Q2 2026. Operating Profit: $494 million, 146% year-over-year increase. Tax Rate: 11% of profit before tax for the quarter. Cash Balance: $5.2 billion at the end of Q2 2026, an increase of $744 million from the beginning of the year. Warning! GuruFocus has detected 5 Warning Sign with ARGNF. Is ARGNF fairly valued? Test your thesis with our free DCF calculator. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. argenx SE (ARGNF) reported its 18th consecutive quarter of growth, highlighting strong momentum and consistent performance. VYVGART has been approved for seronegative generalized Myasthenia Gravis (gMG), making it the first treatment approved across all serotypes of gMG. The company achieved a 60% year-over-year growth in product net sales, with significant contributions from the US, Japan, and other regions. argenx SE (ARGNF) has a robust pipeline with two registrational readouts expected before the end of the year, supporting its goal of achieving 10 labeled indications. The company maintains a strong financial position with a cash balance of $5.2 billion, allowing for reinvestment in scientific innovation and potential business development opportunities. Total operating expenses increased by $129 million compared to the first quarter, reflecting higher R&D and SG&A investments. The company faces competition in the MG market, with new launches and upcoming launches from competitors potentially impacting market share. There are concerns about the efficacy and safety of FcRn therapies, with some competitors suggesting potential dropouts due to safety observations. The development of Empasiprubart in the transplant setting did not support DGF as an indication, indicating challenges in expanding its use. The company faces challenges in changing entrenched habits among physicians and payers to adopt VYVGART as a first-line treatment for CIDP. Q: How might the future growth trajectory change with the launch in the seronegative population, and are there any tailwinds from the broader population now that most plans are not requiring serology testing? A: Beth DelGiacco, Vice President, Corporate Communications & Investor Relations, stated that the company expects the growth trajectory to remain consistent with prior years, despite the launch of the seronegative population. The seronegative launch is expected to contribute to growth, similar to previous launches like the pre-filled syringe. Q: What is the status of the ocular MG filing, and how could it impact VYVGART's revenue trajectory? A: Beth DelGiacco mentioned that the ocular MG filing is progressing with urgency due to the unmet need in this patient population. Sandrine Gerard, Chief Commercialization Officer, added that the potential approval could support growth momentum, as many ocular MG patients are treated by neurologists familiar with VYVGART. Q: Can you discuss the competitive landscape and any feedback from the field regarding VYVGART's efficacy and safety? A: Karen Massey, CEO, emphasized that argenx has maintained market leadership despite competition. Sandrine Gerard highlighted that VYVGART is used earlier in treatment lines due to its strong efficacy and safety profile, with 60% of patients achieving minimal symptom expression. Q: What should we expect from the myositis trial readout, and what is the potential path to filing, particularly in DM? A: Karen Massey explained that success in the myositis trial would be a positive readout on the primary endpoint in one or more subsets. The company sees both indications as potential blockbusters and strategically important for entering rheumatology. Q: Can you provide more details on the Empasiprubart development and its potential impact on MMN? A: Luc Truyen, Chief Medical Officer, stated that the Phase 2 study showed an in-treatment signal in renal parameters, but it does not support DGF as an indication. Karen Massey added that the most important data point for MMN is the positive Phase 2 study results. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in argenex SE? Here are five stocks we like better. argenx posted a strong quarter, with second-quarter product net sales rising 60% year over year to $1.5 billion and operating profit jumping 146% to $494 million. The company ended the quarter with $5.2 billion in cash and financial assets. VYVGART continues to drive growth across myasthenia gravis and CIDP, boosted by the expanded label for seronegative generalized MG. Management said the label expansion adds about 11,000 addressable patients and is already seeing broad payer coverage and strong physician adoption. The pipeline now takes center stage as argenx expects two registrational readouts before year-end 2026: VYVGART in autoimmune myositis and empasiprubart in MMN. The company also highlighted additional next-generation immunology programs and said it remains open to external deals to broaden beyond FcRn. 2 Ways to Play the Big Pharma Patent Cliff argenex (NASDAQ:ARGX) reported what executives described as one of its strongest quarters to date, driven by continued growth for VYVGART across myasthenia gravis and chronic inflammatory demyelinating polyneuropathy, as well as early momentum from a newly expanded label in generalized myasthenia gravis. On the company’s second-quarter 2026 earnings call, Chief Executive Officer Karen Massey said argenx delivered its 18th consecutive quarter of growth and is advancing toward its Vision 2030 plan, which includes a goal of reaching 10 labeled indications and advancing five late-stage molecules by 2030. → 3 Photonics Companies Making Quantum Tech Possible 3 Healthcare Pathbreakers With Long-Term Tailwinds “The team delivered one of our strongest quarters yet,” Massey said. “This momentum reflects the value VYVGART continues to deliver for patients.” Chief Financial Officer Karl Gubitz said product net sales were $1.5 billion in the second quarter, up 60% from the prior year and 17% from the first quarter. U.S. product net sales totaled $1.3 billion, while Japan contributed $102 million, the rest of the world contributed $136 million, and product supply to Zai Lab in China accounted for $5 million. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? 5 medical stocks growing earnings by triple digits Gubitz said U.S. market growth was 15% quarter over quarter, with gross-to-net and net pricing similar to prior quarters. In Japan, net product sales increased 55% sequentially, or $35 million, though reported sales included a one-time benefit of about $25 million tied to a distribution model change. Total operating expenses were $1 billion in the quarter, up $129 million from the first quarter. Combined research and development and selling, general and administrative expenses were $903 million, which Gubitz said reflected “disciplined investment” in clinical development and commercial capabilities. Operating profit was $494 million, up 146% year over year. The company ended the quarter with $5.2 billion in cash, cash equivalents and current financial assets, an increase of more than $744 million from the start of the year. → AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off Chief Commercialization Officer Sandrine Piret-Gerard said VYVGART growth continued across both MG and CIDP and across all regions, with new patient demand remaining consistently high. She said the prefilled syringe has been an important driver of demand, with about 80% of U.S. prefilled syringe patients in the second quarter new to VYVGART. Piret-Gerard said the company now has a repeat prescriber base of more than 5,000 neurologists and is seeing increased use earlier in the treatment journey. In response to a question, she clarified that the 80% figure referred specifically to the second quarter, while the launch-to-date figure for prefilled syringe patients new to VYVGART was about 70%. Executives also highlighted the recent approval of VYVGART for seronegative generalized myasthenia gravis. Massey said the drug is now the first and only treatment approved across all serotypes of generalized MG, including triple seronegative patients. Piret-Gerard said the label expansion increases the addressable MG market by 11,000 patients and has generated positive feedback from patients and physicians. On payer coverage, Piret-Gerard said policies now cover about 55% of U.S. commercial lives within 10 weeks of launch, and most plans are removing serology testing requirements. She said the expanded label is also having a “halo effect” on broader gMG prescribing, including in seropositive patients. In CIDP, Piret-Gerard said argenx is working to expand beyond its initial 12,000-patient addressable population in the United States. She said about 24,000 U.S. patients are being treated for CIDP, with roughly half considered well managed on existing therapy, though the company believes many patients have adapted their lives around lost function. The company cited data from a phase 4 switch study presented at the Peripheral Nerve Society meeting showing that 87% of patients on IVIG switched successfully to VYVGART. Piret-Gerard also pointed to data presented at the American Academy of Neurology showing that 87.5% of treatment-naive CIDP patients benefited from a clinical response. She said VYVGART use in treatment-naive patients remains a developing opportunity, but adoption takes time because many physicians start patients on IVIG and many payers still require some IVIG experience. Massey said argenx has two registrational readouts expected before the end of 2026: VYVGART in autoimmune myositis and empasiprubart in multifocal motor neuropathy, or MMN. For autoimmune myositis, Massey said the company is on track for a third-quarter readout and is evaluating both immune-mediated necrotizing myopathy, or IMNM, and dermatomyositis, or DM. She said there are no approved treatments today for IMNM and that argenx has breakthrough designation from the FDA in that subtype. Chief Medical Officer Luc Truyen, who joined for the question-and-answer session, said the company will analyze the IMNM and DM subsets independently. Massey said success would be a positive readout on the primary endpoint in one or more subsets, and that both IMNM and DM could represent potential blockbuster indications on their own. For empasiprubart, Massey said the first registrational readout in MMN is expected later this year. Truyen said the phase 3 trial compares empasiprubart head to head against IVIG after patients are stabilized on IVIG, with grip strength as the endpoint. Massey said success would be a positive readout on the primary endpoint of non-inferiority, with superiority representing upside. Massey said argenx is also advancing additional pipeline candidates, including next-generation FcRn molecules ARGX-213 and ARGX-124, the IgA “sweeper” ARGX-121, and earlier-stage programs ARGX-118, ARGX-125 and TSP-101. She said ARGX-213 is “phase III-ready,” while ARGX-124 is in phase 1 and could be positioned for late-stage development by year-end. Discussing ARGX-121, Massey said phase 1 data showed about a 90% reduction in IgA within days, maintained through day 28 after a single dose. Truyen said key opinion leaders had responded enthusiastically to the depth and speed of IgA reduction as the company moves into IgA nephropathy. On business development, Massey said the company’s capital allocation strategy remains focused on fueling VYVGART growth, advancing the internal pipeline and using the strength of the balance sheet to pursue external opportunities. She said argenx is focused on immunology assets with novel biology and significant unmet patient need, while seeking to diversify beyond FcRn. “We hold the bar high,” Massey said, “but I can tell you when we find those opportunities where we can have an impact for patients, we will leverage the flexibility of the balance sheet to be able to go after them.” argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology. The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "argenex Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Halozyme Therapeutics HALO reported first-quarter 2026 adjusted earnings of $1.60 per share, which beat the Zacks Consensus Estimate of $1.54. Earnings rose 44.1% year over year. Total revenues in the first quarter increased 42% year over year to $376.7 million. Revenues too surpassed the Zacks Consensus Estimate of $358 million. The top-line growth was primarily driven by an increase in product sales as well as higher royalty payments. HALO received royalty payments from Roche RHHBY for Phesgo and J&J JNJ for subcutaneous Darzalex (daratumumab), as well as argenx ARGX for Vyvgart Hytrulo. Several companies use HALO’s Enhanze technology to develop a subcutaneous formulation of their currently marketed drugs. Halozyme now has several marketed partnered drugs based on this technology, including the subcutaneous (SC) formulation of J&J’s Darzalex, Roche’s Phesgo and argenx’s Vyvgart Hytrulo. Shares of Halozyme were up 3.6% in after-hours trading on Monday owing to the better-than-expected results. However, the stock has lost 1.3% year to date compared with the industry’s 2.6% decline. Image Source: Zacks Investment Research Halozyme’s top line comprises product sales, royalties and revenues under collaborative agreements. Royalty revenues totaled $240.7 million in the first quarter, up 43% from the year-ago quarter’s level. This was mainly due to the robust demand for RHHBY's Phesgo, JNJ's subcutaneous Darzalex and ARGX's Vyvgart Hytrulo, on which it earns royalties. Royalty revenues, however, missed our model estimate of $256.6 million. Product sales were $130.4 million in the first quarter, up 67.2% from the year-ago quarter’s level. HALO has two commercial proprietary products, Hylenex and Xyosted, with the latter acquired from Antares Pharma in 2022. Product sales beat our model estimate of $91.1 million. Revenues under collaborative agreements were $5.6 million in the reported quarter, down almost 70% year over year. Adjusted EBITDA was $229.5 million in the reported quarter, compared with $162 million in the year-ago quarter. Halozyme had cash, cash equivalents and marketable securities of $320.9 million as of March 31, 2026, compared with $145.4 million as of Dec. 31, 2025. Halozyme reiterated its total revenue guidance for 2026, which it had provided earlier this year. The company continues to expect total revenues in the range of $1.71 billion to $1.81 billion for 2026, implying year-over-year growth of 22% to 30%. Total revenues are expected to grow due to increased royalty revenues and higher product sales from API. Royalty revenues are anticipated in the range of $1.13-$1.17 billion, implying year-over-year growth of 30% to 35%. Adjusted EBITDA is expected in the band of $1.13-$1.21 billion, implying a year-over-year surge of 71% to 83%. Adjusted earnings are expected in the range of $7.75-$8.25 per share in 2026, implying growth of 87% to 99% year over year. HALO’s adjusted earnings per share guidance included the impact of approximately $60 million related to the recent Hypercon and Surf Bio investment. The adjusted earnings per share guidance does not consider the impact of potential future share repurchases. Halozyme Therapeutics, Inc. price-consensus-eps-surprise-chart | Halozyme Therapeutics, Inc. Quote Halozyme currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report Johnson & Johnson (JNJ) : Free Stock Analysis Report Halozyme Therapeutics, Inc. (HALO) : Free Stock Analysis Report argenex SE (ARGX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in AbCellera Biologics Inc.? Here are five stocks we like better. AbCellera’s lead program ABCL635 advanced with interim Phase 1 data showing it was generally well-tolerated, with no serious adverse events or liver toxicity, and the company said it remains on track for Phase 2 top-line data in Q3 2026. The company highlighted target-engagement evidence for ABCL635, including sustained, dose-dependent testosterone suppression, which management said supports the idea that the antibody can reach its intended NK3R target in the hypothalamus. AbCellera ended Q1 with about CAD 655 million in available liquidity including government funding, while narrowing its quarterly net loss slightly year over year as it continues to shift resources toward its internal pipeline. Argenx's 28% Surge & Promising Product Propel Investor Confidence AbCellera Biologics (NASDAQ:ABCL) said its first quarter of 2026 was marked by progress in its internal drug pipeline, including interim Phase 1 data for its lead program, ABCL635, and continued preparation for multiple clinical catalysts expected over the next two years. President and CEO Dr. Carl Hansen said the company entered 2026 in a “strong financial position,” with major platform and infrastructure projects “substantially complete” and its internal pipeline positioned for several upcoming readouts. The company’s priorities for the year include top-line data for ABCL635 and ABCL575, advancing ABCL688 and ABCL386 through IND-enabling activities, and adding at least one new development candidate. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum The most closely watched milestone is the Phase 2 readout for ABCL635, which Hansen said remains expected in the third quarter of 2026. The program is being developed as a potential first-in-class antibody medicine for the non-hormonal treatment of moderate to severe vasomotor symptoms, or hot flashes, associated with menopause. Chief Medical Officer Dr. Sarah Noonberg presented interim Phase 1 data for ABCL635, an antibody targeting NK3R, a GPCR target that has been clinically validated in hot flashes. The Phase 1 trial was a randomized, double-blind, placebo-controlled study in healthy volunteers, including a single ascending dose portion and a multiple ascending dose portion. → 3 Ways to Target the Resources Powering AI and Data Centers Noonberg said unblinded data from the single ascending dose portion showed that ABCL635 was “generally well-tolerated.” Across cohorts, there were no reports of serious adverse events, severe adverse events, adverse events leading to discontinuation, or liver toxicity. She said the absence of liver-related adverse events was “an important differentiator” for the program. The overall incidence of any adverse event was 50% in both the ABCL635 treatment group and the pooled placebo group. Most reported adverse events were grade 1. Noonberg said the only potential signal was self-limiting headache clustered in the 900 mg cohort, generally mild and resolving without complication. No headache adverse events were reported in the 600 mg cohort. → Quantum Earnings Season Is Ramping Up—What to Watch From 2 Major Players ABCL635 also showed pharmacokinetic characteristics that the company believes support monthly subcutaneous dosing. Noonberg said the drug exhibited “favorable linear pharmacokinetics” across doses, with low variability and an estimated half-life of about 24 days. A key question for the program was whether an antibody could access NK3R in the hypothalamus. Noonberg said testosterone levels in men were used as a surrogate biomarker for NK3R target engagement, based on prior validation in the early development of the small molecule fezolinetant. According to Noonberg, a single dose of ABCL635 produced sustained, dose-dependent testosterone suppression in men over a four-week period, with recovery to baseline by eight to 12 weeks. She said doses of 300 mg, 600 mg and 900 mg were associated with sustained testosterone reductions of 50% to more than 75% for several weeks. The company also observed dose-dependent suppression of FSH and LH at those doses. “Based on these pharmacodynamic data, we feel confident that ABCL635 is able to reach the KNDy neurons in the infundibular nucleus, and we have addressed an important scientific risk for this program,” Noonberg said. The ongoing Phase 2 portion is a randomized, double-blind, placebo-controlled, multicenter study of approximately 80 patients with moderate to severe vasomotor symptoms. Participants receive a single 600 mg dose of ABCL635 or placebo. The primary efficacy endpoint is at four weeks, with patients followed for an additional eight weeks to evaluate drug concentration and efficacy relationships. Noonberg said the Phase 2 study is enrolling well and remains on track for top-line efficacy and safety data in the third quarter. If successful, the company plans to discuss a late-stage development program for menopause-associated vasomotor symptoms and evaluate potential use in hot flashes associated with breast and prostate cancer treatments. Hansen said AbCellera expects a top-line Phase 1 readout for ABCL575 in the fourth quarter of 2026. The company describes ABCL575 as a potential best-in-class OX40L antagonist. Hansen reiterated that AbCellera’s plan is to complete Phase 1 studies before seeking a partner and that the company does not currently intend to develop the program beyond Phase 1 on its own. Beyond ABCL635 and ABCL575, Hansen said the company is on track to have up to three additional clinical-stage programs by the end of 2027. That includes undisclosed programs ABCL688 and ABCL386, which he said are expected to begin clinical development in Phase 1/2 studies with a path to early proof of concept in patients. The company also aims to select a fifth development candidate in the first half of 2026. Chief Financial Officer Andrew Booth said AbCellera ended the quarter with approximately CAD 531 million in cash equivalents and marketable securities, down CAD 30 million from the prior quarter. He said the company has roughly CAD 125 million in available committed government funding, bringing available liquidity to approximately CAD 655 million. Revenue for the quarter was about CAD 8 million, compared with approximately CAD 4 million in the same quarter of 2025, consisting mostly of research fees. Booth said research fee revenue is expected to trend lower as the company focuses on its internal pipeline. Research and development expenses were approximately $47 million, about $4 million higher than a year earlier, reflecting investment in internal programs. Sales, general and administrative expenses were about $12 million, compared with roughly $19 million last year. Booth said the more than 35% decrease was related to the conclusion of intellectual property litigation and team changes tied to the internal pipeline focus. AbCellera reported a net loss of roughly $43 million for the first quarter, compared with a loss of about $46 million a year earlier. The loss was $0.14 per share on a basic and diluted basis. Booth said the company continues to believe it has sufficient liquidity to fund at least the next three years of pipeline investments. During the question-and-answer session, analysts focused heavily on the interpretation of ABCL635’s testosterone suppression data and how it may translate into efficacy for patients with hot flashes. Hansen cautioned that the biomarker is not a direct measure of efficacy, saying the Phase 2 trial is designed to answer that question. Hansen said the company’s base commercial profile for ABCL635 would be a product with efficacy comparable to small molecules, a cleaner safety profile without liver monitoring and once-monthly subcutaneous dosing. Noonberg added that the 12-week follow-up in Phase 2 should help the company build a pharmacokinetic and pharmacodynamic model to support discussions with regulators about late-stage development. AbCellera Biologics Inc (NASDAQ: ABCL) is a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company's technology platform integrates single-cell screening, microfluidics, high-throughput sequencing and artificial intelligence to rapidly identify and optimize antibody candidates against a wide range of disease targets. By combining experimental data with machine learning, AbCellera accelerates early-stage drug discovery and improves the efficiency of lead candidate selection. AbCellera primarily operates through partnerships with pharmaceutical and biotechnology firms, offering its antibody discovery services on a fee-for-service and milestone-driven basis. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "AbCellera Biologics Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.