argenx up 9% premarket on Q2 top and bottom line beats

Jul. 28, 2022 6:51 AM ETargenx SE (ARGX)By: Jonathan Block, SA News Editor1 Comment

Quarterly results

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  • argenx SE (NASDAQ:ARGX) is up 9% premarket after its Q2 2022 results beat on the top and bottom lines.
  • The revenue beat was particularly staggering. The Danish biotech reported revenue of ~$85.2M, almost double the ~$43.2M consensus estimate.
  • While GAAP EPS of -$3.81 was also a beat, it represented an ~89% decline from the $2.02 achieved in the year-ago period.
  • Sales of Vygart (efgartigimod alfa-fcab) of $74.8M was a ~253% increase compared to Q2 2021.
  • argenx (ARGX) ended the quarter with ~$2.6B in cash and cash equivalents, an 11% increase from Dec. 31, 2021.
  • Seeking Alpha's Quant Rating views argenx (ARGX) as a hold with high grades for momentum, growth, and revisions.

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