argenx (ARGX) Wells Fargo 21st Annual Healthcare Conference summary

Strategic vision and growth

• Vision 2030 aims to treat 50,000 patients, address 10 diseases, and have five new molecules in late-stage development by decade's end, with strong progress reported across all goals.

• Q2 revenue reached $1.5 billion, driven by growth in MG, CIDP, and new launches, including seronegative MG.

• Acquisition of Forte Biosciences added FB102 to the pipeline, supporting the goal of becoming a leading immunology innovator.

• Sustained growth is targeted through expansion into new indications and continued pipeline advancement.

Myasthenia gravis (MG) and market expansion

• 80% of MG patients remain untreated with targeted biologics, presenting significant growth potential.

• VYVGART is the preferred first biologic among neurologists, with expansion into earlier treatment lines and ocular MG expected to drive adoption.

• The total addressable MG market is estimated at 60,000 patients, including early line, ocular, and seronegative subgroups.

• Ocular MG launch is expected to sustain current growth momentum rather than create an inflection point.

Chronic inflammatory demyelinating polyneuropathy (CIDP) and pipeline strategy

• CIDP market opportunity identified at 12,000 addressable patients, with 42,000 total patients.

• VYVGART shows strong response rates, and experience switching from IVIG is increasing prescriber confidence.

• Empasiprubart is being developed for CIDP, targeting IgM-driven disease and potential combination therapy.