Argenx Shares Plunge On Clinical Trial's Halt -- WSJ

The company separately said it would move to late-stage development of a celiac-disease drug it acquired this year By Adrià Calatayud Argenx shares fell sharply after the biotech company stopped a late-stage clinical trial of its Vyvgart drug due to lack of efficacy for the treatment of autoimmune condition Sjogren's disease. Shares in Argenx were down 18% in European morning trading Thursday, wiping out the stock's gains in the year to date. If sustained until close, this would be the stock's biggest one-day percentage drop since December 2023. The Amsterdam-based company said it would discontinue the study following the recommendation from an independent data-monitoring committee, which concluded that the trial would fall short of its primary goal. The study evaluated the effects of Vyvgart in subcutaneous formulation in adults with moderate-to-severe Sjogren's disease, a chronic autoimmune disorder that can cause symptoms including dry eyes and mouth, fatigue and joint pain. No new safety signals were identified in the trial, and safety data were consistent with the drug's known.