Q3 2025 argenx SE Earnings Call Transcript
Key Points
- argenx SE (ARGNF) reported total product net sales of $1.13 billion in Q3 2025, marking the first time the company surpassed $1 billion in sales in a single quarter.
- The prefilled syringe (PFS) is driving significant growth, with more than half of new patients starting on PFS being new to Vivgart.
- The company has made significant pipeline progress, entering 2026 with three phase 3 assets and four new molecules in phase 1 development.
- argenx SE (ARGNF) is actively scaling operations in the US, including an expanded collaboration with Fujifilm through a new manufacturing facility in North Carolina.
- The company is on track for five registrational readouts next year, reflecting a disciplined approach to indication selection and strong commercial potential.
- Development of Easybart in dermatomyositis was stopped due to operational challenges with study enrollment.
- argenx SE (ARGNF) decided not to advance aartiap into a registrational study in lupus nephritis based on phase 2 data results.
- Total operating expenses in Q3 2025 increased by 5% compared to the second quarter, with R&D expenses up by 9% and SG&A expenses by 4%.
- The company expects combined R&D and SG&A expenses to land between $2.6 billion and $2.7 billion for the year.
- There are concerns about the competitive landscape, with J&J announcing a head-to-head trial for Amavi versus Vivgart in GMG, which could impact market dynamics.
Good morning. My name is Rob, and I will be your conference operator today. I would like to welcome everyone to the call. (Operator Instructions) I'd like to introduce Beth DelGiacco, Vice President, Corporate Communications and Investor Relations. You may begin your call.
Thank you. A press release was issued earlier today with our 3rd quarter 2025 financial results and business update. This can be found on our website along with the presentation for today's webcast. Before we begin on slide 2, I'd like to remind you that forward-looking statements may be presented during this call. These may include statements about our future expectations. Clinical developments, regulatory timelines, the potential success of our product candidates, financial projections, and upcoming milestones. Actual results may differ materially from those indicated by these statements. Our Gen X is not under any obligation to update statements regarding the future or to conform those statements
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