Argenx Shares Fall After Company Drops Trials for Eye-Disease Drug

By Adria Calatayud

Shares in argenx fell after the pharmaceutical company said it would stop late-stage trials for an experimental drug to treat thyroid eye disease due to lack of efficacy.

In European afternoon trading Monday, Brussels-listed shares in argenx were down 6.9% at 701.60 euros, but have risen 17% since the start of the year.

The Amsterdam-based company said it would discontinue the trials for the drug, Vyvgart subcutaneous, as a treatment for adults with thyroid eye disease, an autoimmune disease that can lead to vision loss in severe cases, the company said.

The decision followed a recommendation from an independent data-monitoring committee and was based on a review of data from a planned futility analysis after 24 weeks in the studies, argenx said. The analysis showed the studies didn't meet argenx's desired outcome, it said.

The drug showed a favorable safety and tolerability profile, with no new safety signals identified, the company added.

This marks a surprising failure for Vyvgart and removes what was likely to be a major catalyst for its shares next year, analysts at UBS wrote in a note to clients. Nevertheless, data from previous studies for argenx's other late-stage trials are more robust, the analysts said.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

December 15, 2025 09:15 ET (14:15 GMT)