Shareholder Letter
Dear Shareholder,
As we reflect on 2024, we are filled with pride and gratitude for the remarkable progress and achievements that have defined this year for argenx. We are more committed than ever to transforming the treatment of severe autoimmune diseases and the milestones we have reached are a testament to the dedication and resilience of our entire team.
This year, we made significant steps in expanding the reach and impact of VYVGART® (efgartigimod alfa-fcab), our first-in-class antibody fragment targeting FcRn. With approvals for both intravenous and subcutaneous formulations in multiple indications, including gMG, primary immune thrombocytopenia (ITP), and CIDP, we are now able to offer life-changing treatments to more than 10,000 patients globally.
Our financial performance has been robust, with global product net sales reaching $2.2bn in 2024. With our continued commercial execution, we expect to reach sustainable profitability during 2025, giving us the financial flexibility to fuel the next generation of groundbreaking therapies.
This growth reflects the strong demand for our innovative therapies and the successful execution of our strategic initiatives. We are particularly proud of the initial success of our CIDP launch, with approximately 1,000 patients on therapy in first two quarters of launch.
Looking ahead, we remain focused on our Vision 2030, which aims to transform the treatment landscape for autoimmune diseases. Our goals include reaching at least 50,000 patients globally, advancing our pipeline to achieve 10 labelled indications, and bringing five new molecules into Phase 3 by 2030. This vision has already started to take shape as we continue to innovate on the patient experience with our pre-filled syringe (VYVGART SC) (with an expected Prescription Drug User Fee Act target action date (PDUFA Date) of April 10, 2025) and the auto-injector approval expected in 2027. We are also advancing our clinical programs bringing us to 10 Phase 3 clinical trials and 10 Phase 2 clinical trials across our 3 clinical assets (efgartigimod, empasiprubart, ARGX-119). We continue investing in our growing pipeline by progressing 4 INDs into Phase 1 in 2025.
We are confident that our continued investment in innovation leading to differentiated antibody candidates will drive transformative outcomes for patients.
None of this would be possible without the relentless commitment of all argonauts i.e., all employees, management and our board of directors (Board of Directors) to our mission and in particular the unwavering support of our shareholders. Your belief in our mission and your trust in our vision have been instrumental in our success. As we move forward, we remain committed to delivering value to our shareholders while making a meaningful difference in the lives of patients.
Thank you for your continued support.