Why Argenx Stock Is on Fire Today
Argenx (NASDAQ: ARGX), a European biotech, is having a strong start to the week. Specifically, the drugmaker's shares were up by 28% on sky-high volume as of 11:52 a.m. ET Monday morning.
What's powering this double-digit rise in Argenx's share price? Ahead of the opening bell, the biotech announced positive top-line results for the registrational study known as Adhere. The study's goal was to evaluate Vyvgart Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) in adults with chronic inflammatory demyelinating polyneuropathy (CIDP).
CIDP is a rare immune-mediated peripheral nerve condition characterized by weakness and sensory dysfunction in the limbs. Vyvgart reportedly hit the trial's primary endpoint, demonstrating a significantly lower risk of relapse for patients taking the drug compared to those receiving a placebo. What's more, Vyvgart was well tolerated by patients in the study, according to the press release.
Source Fool.com
