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    Victor Floch • BNP Paribas

    Victor Floch's questions to argenx SE (ARGX) leadership

    Victor Floch's questions to argenx SE (ARGX) leadership • Q2 2025

    Question

    Victor Floc'h from BNP Paribas asked for an update on the ITP launch in Japan, specifically on physician feedback regarding its positioning against TPO-RAs, and if argenx could share its market share in that indication.

    Answer

    CEO Tim Van Hauwermeiren reported that the ITP launch in Japan is going well, with real-world data mirroring the clinical trial's ~50% response rate. He noted the drug is currently being used in last-line, highly refractory patients but is landing well due to its rapid action and safety profile. He expects it will gradually move up in the treatment paradigm over time, in line with the initial plan.

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    Victor Floch's questions to argenx SE (ARGX) leadership • Q1 2025

    Question

    Victor Floch asked about the company's expectations for incremental volume growth from the pre-filled syringe (PFS) launch and the potential sales opportunity from the upcoming Phase III trial in seronegative gMG.

    Answer

    Chief Operating Officer Karen Massey expressed confidence that the PFS will drive significant volume growth, noting its optimal label and positive patient feedback. She highlighted early data showing 50% of PFS prescriptions are for new-to-VYVGART patients, supporting the market expansion strategy. CEO Tim Van Hauwermeiren added that the seronegative gMG population represents about 15% of all MG patients and that the company feels very strong about the opportunity, which he equated in size to the ocular MG opportunity.

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    Victor Floch's questions to argenx SE (ARGX) leadership • Q4 2024

    Question

    Victor Floch asked if investors are overlooking the 2025 news flow, such as the seronegative MG trial and PFS launch, and inquired about the importance of self-administration for Hytrulo's penetration in ex-U.S. markets.

    Answer

    CEO Tim Van Hauwermeiren agreed that the PFS launch and seronegative MG readout are significant 2025 catalysts. COO Karen Massey explained that in ex-U.S. markets where self-administration is available, it provides crucial optionality for patients and physicians to choose the best administration route based on lifestyle, though not all patients switch from IV.

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    Victor Floch's questions to argenx SE (ARGX) leadership • Q1 2024

    Question

    Victor Floch asked about SG&A spending for the CIDP launch and requested an update on efforts to expand the ITP indication beyond Japan.

    Answer

    CEO Tim Van Hauwermeiren addressed ITP, stating that insights from the Japanese PMDA approval have equipped the team to re-engage with the FDA. CFO Karl Gubitz clarified that SG&A expenses increased by $27 million in Q1, driven by the expansion of the U.S. commercial team for gMG and the potential CIDP launch, as well as investments in new European markets.

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