Argenx Reports Positive Phase 3 Clinical Trial Results
On May 26, argenx (ARGX) reported positive Phase 3 clinical trial results from the ADAPT trial of efgartigimod. The ADAPT trial evaluates improvement in the Myasthenia Gravis Activities of Daily Living (MG-ADL) score for acetylcholine receptor-antibody positive (AChR-Ab+) generalized myasthenia gravis (gMG) patients. Respondents in the trial saw an improvement of at least two points over a four-week time period. Based on these findings, argenx plans to file a Biologics License Application (BLA) to the FDA by the end of 2020.
Rocket Tickers issued an alert at 1:00 am. The last trade took place at 4:24 pm the previous afternoon for $157.44. The stock priced started to move higher prior to the regular market open and continued its gains throughout the trading day. Trading closed at $212.12 for an event-day gain of 35%.
The gains continued over the next four trading sessions. Argenx closed at $225.41 on June 1 for a five-day gain of 43%.
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