arGEN X (1AE) Q3 2026 Earnings Report
DE:1AE Q3 2026 EPS Results
- Actual EPS
- EUR 6.97
- Consensus EPS
- EUR 7.08
- Beat/Miss
- Missed by -EUR 0.12
- One Year Ago EPS
- EUR 4.48
DE:1AE Q3 2026 Revenue Results
- Actual Revenue
- ―
- Expected Revenue
- EUR 1.48B
- Beat/Miss
- ―
- YoY Revenue Growth
- ―
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/22/2026
- Time
- Before Open
- Conference Call
- Thursday, October 22, 2026
DE:1AE Upcoming Earnings
arGEN X's next earnings date is estimated for February 25, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly constructive, led by 54% year-over-year product sales growth, continued patient and prescriber expansion for VYVGART, positive ALKIVIA and FB102 data, a broadening clinical pipeline and up to five potential launches in 2027. The principal setbacks were the dermatomyositis primary-endpoint miss, the Sjögren’s futility decision, the discontinued TED program and materially higher planned operating expenses. Management nevertheless expressed confidence in Vision 2030 and emphasized continued margin expansion and investment from a position of financial strength.
Company Guidance
For 2026, combined R&D and SG&A expenses are expected to be approximately $4 billion, a 45% increase year-over-year from '25 to '26; for 2027, investors should “please do not assume another 45% increase,” but “think of about half of that 45%,” with more guidance at JPMorgan. Argenx expects 10 molecules in clinical development by the end of this year, 5 potential launches in 2027, and up to 5 launches in a single year in the U.S.; the potential launches include pediatric MG, ocular MG, an VYVGART Hytrulo auto-injector in the second half of 2027, IMNM and potentially MMN. The pediatric MG PDUFA date is February 2027, an sBLA in IMNM is planned by year-end, and the EMPASSION MMN readout is expected in December, after which the company plans to apply for priority review assuming positive data. Vision 2030 targets include 50,000 patients by the end of the decade, 10 labeled indications and 5 molecules in Phase III development by the end of the decade.
- Strong Third-Quarter Revenue GrowthProduct net sales were $1.7 billion, representing growth of 54% year-over-year and 13% quarter-over-quarter. Growth in the number of patients served continued to drive revenue performance.
- Broad Regional Sales GrowthProduct net sales were $1.5 billion in the U.S., $81 million in Japan, $158 million across the Rest of World and $11 million from product supplied to Zai Lab in China. U.S. sales grew 16% quarter-over-quarter, Japan sales grew 47% year-over-year and Rest-of-World markets grew 70% year-over-year.
- Operating Profit and Margin ExpansionOperating profit was $486 million, representing a 28% operating margin. Excluding $150 million of Forte transaction-related costs, the operating margin was 37%. Management said revenue growth continued to outpace expense growth.
- Financial Strength After Forte AcquisitionThe company ended the quarter with $3.7 billion in cash, cash equivalents and current financial assets after paying a net $2.1 billion for the Forte acquisition. The year-to-date effective tax rate was 10%.
- Continued VYVGART Momentum in MG and CIDPManagement described the quarter as one of the strongest quarters of patient growth since launch. Both MG and CIDP continued to grow well, with no slowdown in CIDP and MG growth supported by the seronegative launch.
- Seronegative MG Launch Shows Broad ReachFive months into the seronegative launch, approximately 96% of covered lives had coverage, and most payers had removed serotype testing from VYVGART policies. Approximately 10% of seronegative prescribers were new to VYVGART, while increased prescribing in acetylcholine receptor antibody-positive patients created what management called a halo effect across MG.
- Potential Expansion Across the MG SpectrumSupplemental BLAs have been submitted for pediatric MG and ocular MG, with a pediatric MG PDUFA date of February 2027. Management said these potential label expansions could position VYVGART earlier in the treatment paradigm and extend treatment across the MG spectrum.
- Positive Real-World MG EvidenceReal-world data from more than 1,100 patients presented at MGFA showed that half of patients who started VYVGART within a year of diagnosis reached minimal symptom expression.
- Durable CIDP Data and Treatment ConvenienceThe company has followed patients through ADHERE and ADHERE+ for more than 5 years. Nearly 40% of patients who initially responded to VYVGART reached an INCAT score of 0 or 1 during the open-label extension. Management also cited the prefilled syringe, a Phase IV switch study supporting a 1-week transition from IVIg, and treatment-naive data as supporting adoption.
- Positive ALKIVIA Results in Autoimmune MyositisALKIVIA demonstrated consistent and clinically meaningful results in both immune-mediated necrotizing myopathy and dermatomyositis patients. Management said the results further validated the role of autoantibodies in myositis.
- IMNM Filing and Commercial PreparationArg enx plans to file an sBLA for immune-mediated necrotizing myopathy by year-end, and the program has breakthrough therapy designation. Management cited approximately 20,000 U.S. patients with no approved treatment options, while medical and payer teams are already engaged and the company is expanding its rheumatology sales force.
- Five Potential U.S. Launches in 2027Management said 2027 could bring up to five potential U.S. launches, including pediatric MG, ocular MG, the VYVGART Hytrulo auto-injector, IMNM and potentially empasiprubart in MMN if the data are positive and approval is obtained.
- Empasiprubart Advancing Toward MMN ReadoutThe Phase III EMPASSION study in MMN is expected to read out in December. The study is a head-to-head comparison against IVIg designed to assess whether empasiprubart can provide comparable efficacy while reducing treatment burden. Management said a positive result could support a priority review application.
- Supportive Phase II ARDA Data for EmpasiprubartIn Phase II ARDA, empasiprubart produced improvements in grip strength and function, together with a substantial reduction in the need for IVIg retreatment. With longer-term treatment, grip-strength improvements were sustained through 64 weeks.
- Potential Differentiation of C2 InhibitionManagement said empasiprubart was engineered to remove C2 efficiently and achieve sustained C2 suppression. The company selected C2 to affect both classical and lectin pathway-driven diseases while maintaining the ability to kill encapsulated bacteria, and it believes C2 inhibition could address a broad range of complement-driven diseases.
- Positive FB102 Phase II Celiac ResultsPositive Phase II results for FB102 in celiac disease were described as consistent across efficacy measures, including symptoms and histology, while maintaining a favorable safety profile. Management said the results reinforced its belief in CD122 and positioned FB102 as a Phase III-ready program.
- FB102 Pipeline-in-a-Product OpportunityBeyond celiac disease, management identified vitiligo and alopecia as additional potential indications for FB102 and said it is exploring further autoimmune diseases. The company characterized FB102 as a potential first-in-class and best-in-class asset with pipeline-in-a-product potential.
- Pipeline Broadening and MaturationThe company expects to have 10 molecules in clinical development by the end of 2026. Adimanebart is advancing to Phase III in CMS, ARGX-121 is in Phase II in IgA nephropathy, and additional first-in-class molecules are advancing across new mechanisms and disease areas.
- Progress Toward Vision 2030Management said it remains well on track toward Vision 2030, including the goals of 50,000 patients by the end of the decade, 10 labeled indications and five molecules in Phase III development. The company said MG and CIDP are expected to contribute the majority of patients, with IMNM, MMN and other approvals also contributing.
- Disciplined Investment in GrowthThe company expects approximately $4 billion of combined R&D and SG&A expenses in 2026, reflecting investment in FB102, continued pipeline progress, commercial infrastructure following the positive ALKIVIA result and support for 10 clinical-stage assets. Management said these investments are being made from a position of financial strength while continuing to provide operating leverage.
- Planned Subcutaneous DevelopmentManagement said it plans to move FB102 from IV to subcutaneous administration as quickly as possible, applying the VYVGART playbook to FB102 and empasiprubart.
- Disciplined Development and Futility MonitoringManagement said development programs include built-in futility analyses and other mechanisms intended to support early, disciplined investment decisions while continuing to pursue novel biology and calculated risk.
DE:1AE Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 25, 2027 | 2026 (Q4) | 7.12- | 6.8 | ― | ― |
| Oct 22, 2026 | 2026 (Q3) | 7.086.97 | 4.48 | 55.53% (+2.49) | |
| Jul 23, 2026 | 2026 (Q2) | 5.536.44 | 3.27 | 96.97% (+3.17) | |
| May 07, 2026 | 2026 (Q1) | 4.534.69 | 2.29 | 104.85% (+2.40) | |
| Feb 26, 2026 | 2025 (Q4) | 5.036.80 | 11.32 | -39.97% (-4.53) | |
| Oct 30, 2025 | 2025 (Q3) | 3.764.48 | 1.28 | 249.92% (+3.20) | |
| Jul 31, 2025 | 2025 (Q2) | 2.643.27 | 0.41 | 687.47% (+2.85) | |
| May 08, 2025 | 2025 (Q1) | 2.152.29 | -0.96 | 337.10% (+3.25) | |
| Feb 27, 2025 | 2024 (Q4) | 1.6511.32 | -1.55 | 829.51% (+12.87) | |
| Oct 31, 2024 | 2024 (Q3) | 0.131.28 | -1.18 | 208.20% (+2.46) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
