Argenx Se · EURONEXT:ARGX
Argenx — Investor Presentation (May 2026)
24 slides from Argenx's investor presentation, May 2026
Slide 1: Leading a new era of innovation in immunology
Leading a new era of innovation in immunology C O R P O R AT E P R E S E N TAT I O N M a y 2 0 2 6 1
Slide 2: Commitment To Our Transformation Mission: Vision 2030
Commitment To Our Transformation Mission Disciplined Scaling Leadership in FcRn Continuous Pipeline of Innovation VISION 2030 Patients on Labeled New Molecules Treatment Indications in Phase 3 2
Slide 3: 2026 Strategic Priorities
2026 Strategic Priorities Impact More Patients Shape Long-Term Deliver Next Wave with VYVGART Future of FcRn of Innovation Deliver broadest MG label First empa Phase 3 readout Advance combination (MMN) approaches AIM and ITP Phase 3 readouts 4 Phase 3 molecules 3 Clinical-stage FcRn Expand into rheu
Slide 4: Playbook to Reach 50k Patients: Impact More Patients with VYVGART
Playbook to Reach Impact More Patients with VYVGART 50k Patients & Shape Long-Term Future with FcRn 4
Slide 5: Strong Momentum Across MG and CIDP
Strong Momentum Across MG and CIDP NEW PATIENT STARTS PRESCRIBER EXPANSION Amongst ~5,000 Highest Achieved Prescribers in the US since launch 2X increase since CIDP launch EARLIER LINE USE PFS EXPANDING DEMAND 4/5 68% Prescribers in the US of PFS patients Prefer to start with VYVGART as new to VYVG
Slide 6: Growing VYVGART Leadership in MG
Growing VYVGART Leadership in MG Path to 60K Addressable Patients U.S. Addressable MG Patients +25K +7K 60K Growth in Biologics +11K Share of Market Ocular 17K Seronegative Approved for all Submission PFS driving gMG serotypes1 on track expansion Addressable Total Addressable Market at Launch Market
Slide 7: VYVGART Has the Broadest Label Across all gMG
VYVGART Has the Broadest Label Across all gMG Now Approved Positioned for Seamless Launch VYVGART is the First and Only Targeted Treatment VYVGART is the #1 prescribed Approved for Adults with gMG across all Serotypes branded biologic for gMG Ability to simplify treatment decisions and remove seroty
Slide 8: Data Confirms IgG Mediated Pathogenesis of Disease Across Subtypes
Data Confirms IgG Mediated Pathogenesis of Disease Across Subtypes ADAPT* ADAPT-SERON* ADAPT-OCULUS* 0 0 0 Mean Change from BL in MGII (PRO) Ocular -0.5 -0.5 -0.5 Mean Change from BL in MG-ADL Mean Change from BL in MG-ADL -1 -1 -1 -1.5 -1.5 -1.5 -2 -2 -2 -2.5 -2.5 -2.5 -3 -3 -3 -3.5 -3.5 -3.5 -4 -4
Slide 9: Roadmap to CIDP Market Expansion
Roadmap to CIDP Market Expansion Redefine Treatment Evidence Generation ADHERE+ Functional Benefit HCP Prescriber Growth 42K Redefine Patient Outcomes 24K Biomarker Exploration IgG, IgM Autoantibodies 12K Progressing Multiple MOAs Addressable Total Treated Total Diagnosed Co-positioning VYVGART & Em
Slide 10: Raising the Bar in CIDP
Raising the Bar in CIDP Early-line use 87.5% Clinical responses observed among treatment-naïve patients in ADHERE post hoc analysis Sustained functional benefit 96 wks Mean grip strength continued to improve up to 96 weeks in open-label extension Scott, CIDP Patient AAN Presentation: ADHERE Study po
Slide 11: Building our Presence in Rheumatology
Building our Presence in Rheumatology Autoimmune Myositis Sjögren’s Disease PM Redefining Biology 10K MSAs1 linked to disease severity in IMNM; skin rash and treatment Anti-Ro/SSA and Anti-La/SSB IMNM response in DM are hallmarks of disease 20K 230K Redefining Treatment 70K Phase 2: Significant impr
Slide 12: Building a Sustainable FcRn Franchise
Building a Sustainable FcRn Franchise Diversified FcRn portfolio elevating the patient experience across IgG-mediated diseases Today Tomorrow Differentiated Efficacy and Patient Experience Enduring FcRn Leadership ARGX-213 ARGX-124 ARGX-XXX Phase 3 ready Phase 1 Future molecules FcRn Optimizing pati
Slide 13: Playbook to Reach 50k Patients: Deliver Next Wave of Innovation
Playbook to Reach 50kNext Deliver Patients Wave of Innovation 13
Slide 14: Transformative Potential Across Pipeline Programs
Transformative Potential Across Pipeline Programs Efgartigimod Empasiprubart Adimanebart ARGX-213 ARGX-121 First-in-class Potent C2 MuSK agonist FcRn: Sustained IgA Sweeping Fc Fragment antibody antibody IgG reduction Antibody 15+ 3+ 2+ 15+ 3+ Indications Indications Indications Potential indication
Slide 15: Pivotal Year for empasiprubart with First Phase 3 Readout in MMN
This will be a Pivotal Year for empasiprubart with First Phase 3 Readout in MMN 12k patients Market in MMN expected to grow MMN across key markets beyond $1B by 2030 Unmet Need 40% 0 60% Initially Targeted Progression misdiagnosed treatments despite treatment Future $1B+ Today Disease Burden $750-80
Slide 16: Empasiprubart Sustained Improved Grip Strength in MMN
Empasiprubart Sustained Improved Grip Strength in MMN ARDA Phase 2 ARDA+ Open Label Grip strength change from baseline (kPA) 16
Slide 17: Successfully Advancing Next Wave of Molecules
Successfully Advancing Next Wave of Molecules ARGX-213: Convenient Monthly Dose Achieved ARGX-121: Human Data Show Rapid and Total in Humans IgA Depletion IgG Change from baseline (%) IgA Change from baseline (%) IgA-targeting Fc-ABDEGTM Fab α-albumin Fc-ABDEGTM VHH 17
Slide 18: Three New Phase 1 Molecules in 2026
Three New Phase 1 Molecules in 2026 Expanding our Academic Research Centers Biopharma companies ecosystem of where we Immunology Labs Immunology pipelines source novel biology Innovation Engine Broadened network of where we source novel biology Bringing in more later stage pipeline candidates ARGX-1
Slide 19: Innovation Model Generating World-Class Pipeline
Innovation Model Generating World-Class Pipeline IIP/Preclinical Phase 1 PoC Registrational Approved ARGX-118 (Galectin) AMR Ocular MG gMG1 – CIDP – ITP (Japan) ARGX-124 (FcRn) Scleroderma ITP 25 ARGX-125 AIE Graves’ Disease Active IIP TSP-101 (Fn14) DGF Sjogren’s Disease programs PROGRAMS SMA Myosi
Slide 20: 6 Registrational Readouts Over Next 24 Months
6 Registrational Readouts Over Next 24 Months Phase 3 Data Readouts EFGARTIGIMOD EMPASIPRUBART Myositis 3Q 2026 MMN 4Q 2026 ITP 1H 2027 CIDP 2H 2027 Sjogren’s Disease 2H 2027 20
Slide 21: Attractive De-Risked Profile of Phase 3 Studies
Attractive De-Risked Profile of Phase 3 Studies Ocular MG Myositis MMN ITP Sjogren’s ADAPT ocular ALKIVIA EMPASSION ADVANCE Phase 3 IV domain data Proof of Concept Proof of Concept RHO and DAHLIAS Real world data Japan Proof of concept Real-world case reports Cumulative platelet count primary endpoi
Slide 22: Playbook to Reach 50k Patients: 1Q Financials
Playbook to Reach 50k 1Q Patients Financials 22
Slide 23: Product Net Sales of $1.3 Billion in Q1
Product Net Sales of $1.3 Billion in Q1 Product Net Sales by Quarter Q1 2026 growth vs Q1 2025 1.286 1.298 $’m (in millions of $) Q1 2026 Q1 2025 Growth Growth % * 1.127 China US 1,107 681 426 62% RoW Japan 67 32 35 111% Japan 949 Rest of the World 112 57 55 99% US 790 China supply 12 20 (8) (41%) 7
Slide 24: Q1 2026 Financial Summary
Q1 2026 Financial Summary Three months ended March 31 (in million of $) 2026 2025 Delivering Margin Expansion Operating profit of $394 Product net sales 1,298 790 Other operating income* 15 17 million, +183% YoY Total operating income 1,313 807 Cost of sales (121) (81) Research and development expen