Argenx discontinues Vyvgart study in Sjögren's disease, shares tumble

Oct 8 — Argenx said on Thursday it had discontinued ​a late-stage study of its efgartigimod drug in adults with Sjögren's disease, an autoimmune ‌condition that damages the glands producing tears and saliva, ⁠putting its shares ​on track for their ⁠biggest one-day fall in almost three ‌years.

The drug, commercialized under ‌Vyvgart, has become one of Europe's most successful ⁠biotech launches through ⁠its use in treatment of two other autoimmune diseases, and Argenx sees rheumatology as a potential new growth platform for it. Sjögren's is primarily diagnosed and treated by rheumatologists.

• ‌An independent data monitoring ​committee recommended stopping the study after an interim analysis concluded the study was unlikely to meet its primary endpoint

• Sjögren's has a high unmet need and no approved treatment, so analysts had seen the ​trials as a clear opportunity for Vyvgart

• ‌The shares were ‌down ⁠16% by 1109 GMT, wiping off €8.5 billion ($9.5 billion) from Argenx's market value

• The stock is by far the biggest faller on ‌Europe's downbeat healthcare ​index, which fell 1.8%

($1 = ‌0.8942 euros)

(Reporting by ⁠Lucie Barbier ​and Margaux Perrin in Gdansk, editing by Milla ​Nissi-Prussak)

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