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Stock Alert: Argenx Up 30% As Muscular Disorder Drug Meets Phase 3 Trial Goal

Shares of argenx SE (ARGX) jumped over 30% on Tuesday morning after the Dutch pharma company reported positive results for a late-stage trial of neuromuscular disorder drug.

ARGX is currently trading at $209.94, up $51.98 or 32.91%, on the Nasdaq.

The phase 3 trial of Argenx's efgartigimod in generalized myasthenia gravis (gMG) patients met its primary endpoint. Responders are defined as having at least a two-point improvement on the MG-ADL score for at least four consecutive weeks.

argenx plans to file for the U.S. Food and Drug Administration approval by the year-end.

Efgartigimod is an antibody fragment designed to bind to neonatal Fc receptor (FcRn), driving down levels of antibodies implicated in multiple autoimmune diseases.

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