Shares of healthcare companies Argenx SE (NASDAQ:ARGX) and Zai Lab (NASDAQ:ZLAB) are on the rise today after the two partners announced positive topline data from a study (ADHERE) evaluating Vyvgart Hytrulo for the treatment of chronic inflammatory demyelinating polyneuropathy (CIDP) in adults.
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Achieving its primary endpoint, the trial demonstrated a substantially lower risk of relapse with the drug versus placebo. Importantly, the promising results point to a meaningful improvement and stability in disease symptoms alongside a favorable safety profile.
Zai Lab is the exclusive licensee for the development and commercialization of the drug in the Greater China region and shares of the company are up nearly 8.6% today on the announcement of the data in CIDP.
Argenx shares too are already flying ~25% higher today. Overall, the Street has a $456.70 consensus price target on Argenx alongside a Strong Buy consensus rating.
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