Argenx (ARGX) stock tumbled on Oct. 8 after the biotech firm discontinued a Phase 3 trial of its blockbuster drug Vyvgart in Sjögren’s disease. ARGX’s decision came after an independent data-monitoring committee determined the study was unlikely to meet its primary endpoint.
The setback overshadowed encouraging Phase 2 trial results for FB102 in celiac disease — another experimental treatment in Argenx’s pipeline. ARGX shares are now trading nearly 24% below their year-to-date high.
