argenx SE (ARGX) Presents at Morgan Stanley 23rd Annual Global Healthcare Conference

Sean Laaman
Head of Healthcare Research & Equity Analyst

Good morning. Welcome to Morgan Stanley’s Global Healthcare Conference. I’m Sean Laaman, Head of SMID-cap Biotech Equity Research here at the firm. Before we proceed further, for important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. And if you have any questions, please reach out to your Morgan Stanley sales representative.

For this session, we have from argenx, a pleasure to host the CFO, Karl Gubitz. So welcome, and thank you for your time today, Karl. And maybe just to kick off proceedings, I’ll get a few minutes from you just to set the scene. We’ll have some macro-type questions, and then we’ll go into the guts of it. So welcome, Karl. Thank you.

Karl Gubitz
Chief Financial Officer

Thank you. Thank you, Sean. Good morning, everybody. Bright and early. It’s a real pleasure to be here. At argenx, we are on an innovation mission. We know that is the only reason we exist. Patients are waiting. In doing this, we set ourselves very ambitious targets at the beginning of the year and when we go out and execute on those. Biotechs many times falter at execution. At argenx, it is one of our core strengths. For this year, our targets were, firstly, commercial execution. I think our Q2 revenues, product net sales of $949 million answered that question. We are doing really well.

On the clinical side, in the first half of the year, we had 2 targets. CIDP CHMP approval, we’ve done that. And the second one, which was really important was the PFS launch in