argenx SE

Latest Results (20.08.2024):

Revenue Growth

In the second quarter of 2024, argenx SE reported total operating income of $489 million, a significant increase from $281 million in the same period of 2023. This growth was primarily driven by product net sales of VYVGART and VYVGART SC, which amounted to $478 million, compared to $269 million in the second quarter of 2023.

Operating Expenses

argenx SE's total operating expenses for the second quarter of 2024 were $535 million, up from $383 million in the same quarter of 2023. The increase in expenses was mainly due to higher research and development costs, which rose to $225 million from $196 million, and increased selling, general, and administrative expenses, which reached $256 million compared to $162 million in the previous year.

Financial Income

For the second quarter of 2024, argenx SE reported financial income of $39 million, up from $20 million in the same period of 2023. This increase was largely attributed to higher interest income resulting from an increase in cash, cash equivalents, and current financial assets following a financing round in July 2023.

Net Profit

argenx SE achieved a net profit of $29 million for the second quarter of 2024, a notable improvement from a net loss of $94 million in the same quarter of 2023. On a per-share basis, the basic profit was $0.49, and the diluted profit was $0.45, compared to a basic and diluted loss of $1.69 per share in the second quarter of 2023.

Cash Position

As of June 30, 2024, argenx SE's cash, cash equivalents, and current financial assets totaled $3.1 billion, slightly down from $3.2 billion at the end of December 2023. The decrease was primarily due to net cash flows used in operating activities.