On August 19, Argenx SE rose 3.17% in regular trading, trading at $1026.185/share, with turnover of $30.86 million. The gain follows a wave of positive analyst commentary reinforcing the significance of the company's phase 3 myositis trial results.

On the news front, Oppenheimer noted that the phase 3 ALKIVIA data de-risk Vyvgart's estimated $1.5 billion to $2 billion autoimmune myositis opportunity, highlighting the immune-mediated necrotizing myopathy subgroup as the most de-risked path to approval with a statistically significant 14.8-point improvement in Total Improvement Score versus placebo. RBC Capital Markets indicated Vyvgart Hytrulo is likely to receive FDA approval for adults with IMNM and dermatomyositis. Morgan Stanley raised its probability-of-success assumptions for efgartigimod following the data. Wedbush also lifted its price target to $1,150 from $1,050 while maintaining an Outperform rating.

The trial marked the first phase 3 study globally to show significant improvement in IMNM, a disease subtype with no currently approved therapy. Argenx plans to file for accelerated approval in IMNM.

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