Argenx Se · EURONEXT:ARGX
Argenx — Investor Presentation (November 2025)
26 slides from Argenx's investor presentation, November 2025
Slide 1: Reaching Patients Through Immunology Innovation
Reaching Patients Through Immunology Innovation C o r p o r a t e P r e s e n t a t i o n N o v e m b e r 2 0 2 5
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation has been prepared by argenx se (“argenx” or the “company”) for informational purposes only and not for any other purpose. Nothing contained in this presentation is, or should be construed as, a recommendation, promise or representation by the presenter or
Slide 3: Innovation has no value unless it provides meaningful benefit to patients
Innovation has no value unless it provides meaningful benefit to patients 3
Slide 4: Our Innovation Playbook
Our OurInnovation InnovationPlaybook Playbook Best-in-Field Pipeline-in- Novel Disease Antibody a-Product Biology Insights Engineering Development Foundational First-in-Class Differentiated Immune Antibodies Patient Targets Outcomes 4
Slide 5: VYVGART is Setting a New Standard for Patients
VYVGART is Setting a New Standard for Patients MG1 CIDP Sustained Efficacy Meaningful ≥ 2 MG-ADL SCORE IMPROVEMENT IN 75% response PATIENTS DURING ECI STAGE A >75% OF VISITS Substantial No/minimal improvement in symptoms functional ability MSE = MG-ADL SCORE ≥2 POINT DECREASE IN Fred of 0 or 1 Jamil
Slide 6: Product Net Sales for Q3 of $1.13 billion
Product Net Sales for Q3 of $1.13 billion Product Net Sales by Quarter Q3 2025: growth of 96% vs Q3 2024 19% (in millions of $) Q3 2025 Q3 2024 Growth Growth % * 1,127 $’m US 964 492 471 96% 949 Japan 60 24 36 148% 790 737 RoW 94 46 49 107% China supply 9 11 (2) (17%) 573 478 Total 1,127 573 554 96%
Slide 7: 2025 Strategic Priorities
2025 Strategic Priorities Reach more patients Expand next wave with VYVGART Fuel pipeline growth of innovation 10 Phase 3s 4 New PFS Launch Molecules in 10 Phase 2s Phase 1 7
Slide 8: Reach More Patients with VYVGART
Reach More Patients with VYVGART 8
Slide 9: Maximizing the VYVGART Opportunity
Maximizing the VYVGART Opportunity COMMERCIAL GROWTH DRIVERS 97 % YoY revenue growth Presentation 260 First-time VYVGART prescribers since PFS launch 3Q growth across all Geography indications, all regions 9
Slide 10: Growing VYVGART Leadership in MG
Growing VYVGART Leadership in MG Path to 60K Addressable Patients 2025 Progress U.S. Addressable MG Patients +25K +7K Seronegative sBLA Submission Planned by end of 2025 +11K Growth in Biologics 60K Share of Market Ocular 17K Pre-Filled Syringe Seronegative Launched In all major markets Addressable
Slide 11: Positive Seronegative gMG Data Supports Expansion of gMG Label
Positive Seronegative gMG Data Supports Expansion of gMG Label Study met primary endpoint (p-value=0.0068) sBLA No new safety concerns identified submission planned by First global Phase 3 to show clinical end of 2025 benefit across all snMG Subtypes 11
Slide 12: Opportunity To Set New Standard in Ocular MG
Opportunity To Set New Standard in Ocular MG Ocular Domain Effect in ADAPT (1) Addressing Unmet Need High Disease Burden Impaired ability to work, drive and participate in social activities MG-ADL ocular subdomain %change from baseline in High Treatment Burden Frequent chronic, high doses of oral co
Slide 13: Delivering Impact for CIDP Patients
Delivering Impact for CIDP Patients 2,500 CIDP Patients treated globally Scott, CIDP Patient 13
Slide 14: Fuel Pipeline Growth
Fuel Pipeline Growth aa argenx?
Slide 15: Our Pipeline is Positioned to Fuel Continuous Growth
Neuromuscular Our Pipeline is GBS Positioned to Fuel MG Crisis NMOSD Rheumatology Continuous Growth MG Steroid IMNM Taper oMG SJD snMG AIE MMN Bubble Size and SSC Color Indicates CIDP CIDP Prevalence DM Lead gMG SMA Expand CMS ASyS ITP ALS <15k 15-100k 100-300k Investigate/ESR DGF TED AMR Asset ITP
Slide 16: Empasiprubart is Now a Phase 3 Asset
Empasiprubart is Now a Phase 3 Asset Foundational First-in-Class Pipeline in a Immune Target Potential Best-in-Class Product Opportunity Complement C2-Specific Empasiprubart Factor C2 Antibody IgG IgM Mannose sugar CP LP MMN and CIDP C4 C2 Registrational Studies C3 C5 DGF Proof of Concept Study Inte
Slide 17: Phase 2 ARDA Study: Transformational Data in MMN
Phase 2 ARDA Study: Transformational Data in MMN Empasiprubart Treated Patients Feel Significant Unmet Need Study Met Primary Endpoint Better than their Best on IVIg Life-Limiting Symptoms Empasiprubart reduced risk Cohort 1: 94.4% improved of IVIg retreatment by up to 100 91% Percentage of Particip
Slide 18: Disrupting Blockbuster Markets
Disrupting Blockbuster Markets Two Head-to-Head Phase 3 Studies with IVIg Innovation Builds Markets Following similar analogues in MG and MS MMN EMPASSION Study Ongoing More innovation brings better >400 patients enrolled in iMMersioN outcomes for more natural history study patients CIDP Future EMVI
Slide 19: ARGX-119 is Now a Phase 3 Asset
ARGX-119 is Now a Phase 3 Asset Foundational First-in-Class Pipeline in a Immune Target Potential Best-in-Class Product Opportunity MuSK MuSK Agonist ARGX-119 Antibody CMS Registrational Study ALS Proof-of-concept Study MuSK P P SMA Proof-of-concept Study Crucial for Neuromuscular SIMPLE Junction Fu
Slide 20: Expand Next Wave of Innovation
Expand Next Wave of Innovation 20
Slide 21: 4 Phase 1 Molecules in 2025
4 Phase 1 Molecules in 2025 Continued Leadership with Broad Immune System Targets ARGX-213 ARGX-121 ARGX-109 ARGX-220 FcRn IgA IL-6 Target Undisclosed Fc-ABDEGTM Fc-ABDEGTM NHance® α-albumin VHH Prolonged IgG reduction Rapid, deep IgA reduction Best-in-class potency First-in-class sweeper Potential
Slide 22: Innovation Model Generating World-Class Pipeline
Innovation Model Generating World-Class Pipeline Active IIP Programs PHASE 1 Proof of Concept PHASE 3 APPROVED Neuro Target Neuro Target ARGX-213 (FcRn) AMR Seronegative MG Neuro Target Neuro Target ARGX-109 (IL6) Scleroderma Ocular MG Neuro Target Rheum Target ARGX-121 (IgA) AIE ITP Rheum Target Rh
Slide 23: Five Registrational Readouts in 2026
Five Registrational Readouts in 2026 Ocular MG MMN TED IMM ITP Primary Endpoint: Primary Endpoint: Primary Endpoint: Primary Endpoint: Primary Endpoint: MGII PRO ocular score Grip strength Proptosis responders Mean Total Improvement Cumulative disease Score (TIS) control Opportunity to Address Signi
Slide 24: Strong Growth Trajectory to 50K Patients
Strong Growth Trajectory to 50K Patients 50K CMS CIDP Sjogren’s Myositis TED MMN oMG snMG CIDP ITP gMG Wave 1: TODAY Wave 2 (2026-2027) Wave 3 (2028-2030) VYVGART Empasiprubart ARGX-119 24
Slide 25: Vision 2030
Vision 2030 COMMITMENT TO OUR INNOVATION MISSION 5 New Molecules in Phase 3 10 Labeled Indications 50k Patients on Treatment 25
Slide 26: Alternative Performance Measures Statement
Alternative Performance Measures Statement In this document, argenx's financial results are provided in accordance with IFRS® Accounting Standards (IFRS) and using a non-IFRS financial measure, cash, cash equivalents and current financial assets. This value should not be viewed as a substitute for t