Stock Alert: Argenx Shares Up 30% On Topline Data From Phase 3 ADAPT Trial Of Efgartigimod

(RTTNews) - Shares of argenx (ARGX) are rising over 30% in pre-market today, after the global immunology company 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 or BLA to the U.S. FDA by the end of 2020.

The stock has been trading in the range of $103.75 - $169.50 for the past one year, and closed Friday's trade at $157.96, up $2.00 or 1.28%. ARGX is currently trading at $206.31, up $48.35 or 30.61% in the pre-market session.