What is argenx's latest dividend and current dividend yield?

What factors drove the changes in argenx's revenue and profit?

What is argenx's gross profit margin?

What does argenx do and what are its main business segments?

Did argenx beat or miss consensus estimates last quarter?

What were the key takeaways from argenx’s earnings call?

What were the key takeaways from argenx's earnings call?

What guidance did argenx's management provide for the next earnings period?

- **Revenue milestone**: $1.13B Q3 product sales, 96% YoY growth, fueled by PFS adoption in gMG and CIDP.
- **Pipeline acceleration**: 3 Phase III assets advancing, with Graves' disease trial set for 2026 and 4 new Phase I molecules by year-end.
- **Financial strength**: $4.3B cash balance, 11% gross margin, and disciplined expense growth (~$2.6B for 2025).
- **Strategic focus**: Seronegative gMG (60% MSE in Phase II) and CIDP expansion, with Graves' disease as next frontier in thyroid autoimmunity.

**【CEO Summary Section】**
- Q3 2025 revenue milestone: $1.13 billion in product net sales, up 96% YoY, driven by VYVGART's prefilled syringe (PFS) launch in gMG and CIDP.
- Pipeline progress: 3 Phase III assets (efgartigimod, empasiprubart, ARGX-119) and 4 new Phase I molecules by year-end. Discontinuation of empasiprubart in dermatomyositis (DM) due to enrollment challenges, while efgartigimod Graves' disease trial set to begin early 2026.
- Strategic investments: $4.3 billion cash balance, expansion of U.S. manufacturing with FUJIFILM, and scaling commercial infrastructure for global growth.

**【CFO Financial Commentary】**
- Q3 2025 financial highlights: $346 million operating profit, $344 million net profit, and year-to-date cash balance of $4.3 billion.
- Expense management: R&D and SG&A expenses expected to total ~$2.6 billion for the year, with single-digit growth for Q4.
- Gross margin: 11% year-to-date, reflecting scale benefits and operational efficiency.

**【COO Commercial Update】**
- PFS adoption: 50% of new VYVGART patients in Q3 used PFS, with 260 new prescribers in the U.S. since launch.
- Market expansion: U.S. sales grew 20% QoQ, Japan CIDP launch, and Europe approvals for PFS in gMG and CIDP.
- Patient impact: 15,000+ patients treated globally, with 70% of new MG patients coming from oral therapy conversion.

**【Q&A Highlights】**
- **Pipeline differentiation**: Efgartigimod's FcRn mechanism in Graves' disease (potential 2026 Phase III) and Sjögren's (UNITY trial) vs. broad B-cell suppression.
- **Commercial strategy**: Focus on seronegative gMG (60% MSE in ADAPT-SERON) and ocular MG (2026 label expansion), with CIDP targeting 12,000 addressable patients.
- **Operational decisions**: Graves' trial prioritization over lupus nephritis due to Phase II data, and DM enrollment challenges in empasiprubart trial.

argenx SE (ARGX) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ARGX

ARGX fundamentals

You can ask Aime