Highlights 

  • Q3 global product net sales totaled USD 1.13B, up USD 554M year over year 
  • Quarterly profit increased to USD 344M from USD 91M in Q3 2024 
  • Cash and financial assets rose to USD 4.3B as of September 30, 2025 

Argenx SE(NASDAQ:ARGX) released its financial results for the third quarter ended September 30, 2025, reporting total operating income of USD 1.2B, compared with USD 0.6B in the same quarter of 2024. The growth was primarily driven by higher product sales of VYVGART, which recorded USD 1.13B in net sales, up from USD 0.6B a year earlier. 

Other operating income came to USD 24M, mainly reflecting R&D tax incentives and payroll tax rebates. 

Total operating expenses stood at USD 805M, compared with USD 575M in Q3 2024. The cost of sales amounted to USD 109M, while R&D expenses totaled USD 356M, primarily linked to ongoing development of efgartigimod, empasiprubart, and ARGX-119. Selling, general, and administrative expenses reached USD 336M, mainly due to commercialization efforts for the VYVGART franchise and personnel-related costs. 

The company reported net profit of USD 344M for the quarter, an increase from USD 91M in the same period last year. As of September 30, 2025, cash, cash equivalents, and current financial assets totaled USD 4.3B, compared with USD 3.4B as of December 31, 2024. Guidance for combined R&D and SG&A spending remains at approximately USD 2.5B. 

Business and Pipeline Update 

Chief Executive Officer Tim Van Hauwermeiren commented, “argenx continues to deliver on our bold innovation agenda, driving transformational impact for patients worldwide.” 

The company is advancing its Vision 2030 strategy, which aims to treat 50,000 patients globally, achieve 10 labeled indications across approved medicines, and move five pipeline assets into Phase 3 development by 2030. 

During the quarter, VYVGART generated USD 1.13B in global sales. The subcutaneous prefilled syringe for self-injection received approval in Japan in September 2025, with a decision in Canada expected by year-end. 

Pipeline Progress 

Argenx continues to advance a diverse immunology pipeline, including several registrational and early-stage programs: 

  • Efgartigimod: Registrational trials ongoing in myositis, Sjögren’s disease, and Graves’ disease, with readouts expected between 2026 and 2027. 
  • Empasiprubart: Under evaluation of multifocal motor neuropathy, chronic inflammatory demyelinating polyneuropathy, and delayed graft function.  
  • ARGX-119: Advancing into registrational study in congenital myasthenic syndromes; proof-of-concept results in ALS expected in the first half of 2026. 
  • New pipeline candidates: Phase 1 study for ARGX-109 anticipated to complete by end of 2025; Phase 1 studies for ARGX-213 and ARGX-121 expected to conclude in the first half of 2026.