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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Argenx SE    ARGX   NL0010832176

ARGENX SE

(ARGX)
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AbbVie doubles down on cancer project with biotech group Argenx

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08/22/2018 | 03:47am EDT

BRUSSELS (Reuters) - Biotech group Argenx said on Wednesday U.S. pharma group AbbVie had exercised an exclusive option to develop and commercialise one of its experimental drugs which could lead to payments of up to $625 million(490.08 million pounds).

Following the announcement, Argenx shares rose by more than 6 percent in early trading.

Argenx, with bases in the Netherlands and Belgium, has several drugs to treat autoimmune diseases and cancer in various stages of medical trials, often in partnerships with large pharma groups.

It is also developing a cancer immunotherapy drug named ARGX-115 with AbbVie, for which the U.S. company has now decided to trigger an option which gives it an exclusive licence to develop and commercialise the drug.

ARGX-115 is in pre-clinical development, meaning it still has several stages of clinical trials to pass before it could enter the market.

After listing on the stock market in 2014, Argenx's share price has increased tenfold and it joined Belgium's blue-chip index Bel20 <.BFX> earlier this year.

(Reporting by Robert-Jan Bartunek; Editing by Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
ABBVIE INC. -1.18% 94.91 Delayed Quote.7.19%
ARGENX SE -3.46% 195.4 Delayed Quote.36.07%
BEL 20 -2.01% 3273.37 Real-time Quote.-17.25%
JUST GROUP PLC 2.38% 44.8 Delayed Quote.-43.29%
THE LEAD CO., INC. 0.00% 337 End-of-day quote.-13.59%
WILL GROUP, INC. 0.00% 535 End-of-day quote.-57.27%
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Financials
Sales 2020 62,3 M 73,4 M 73,4 M
Net income 2020 -430 M -506 M -506 M
Net cash 2020 1 321 M 1 555 M 1 555 M
P/E ratio 2020 -23,8x
Yield 2020 -
Capitalization 9 205 M 10 890 M 10 835 M
EV / Sales 2020 126x
EV / Sales 2021 67,9x
Nbr of Employees 186
Free-Float 99,2%
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Number of Analysts 7
Average target price 231,69 €
Last Close Price 195,40 €
Spread / Highest target 48,4%
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Tim van Hauwermeiren Chief Executive Officer & Executive Director
Peter K. M. Verhaeghe Chairman
R. Keith Woods Chief Operating Officer
Eric Castaldi CFO & Principal Accounting Officer
Hans J. W. de Haard Chief Scientific Officer
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