Argenx Posts Wider Than Expected Q1 Loss; Operating Income Climbs
(RTTNews) - argenx SE (ARGX), a Dutch immunology company, reported Thursday that its first-quarter loss attributable to owners of the parent widened to $61.60 million from last year's loss of $28.87 million.
Loss per share was $1.04, compared to loss of $0.52 per share a year ago. Analysts on average expected the company to report loss of $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Total operating expenses for the three months were $506 million, compared to $334 million for the same period in 2023.
Total operating income climbed to $412.51 million from prior year's $229.88 million. The Street was looking for revenues of $405.78 million.
Product net sales of VYVGART and VYVGART SC for the period were $398 million, compared to $218 million for the same period in 2023.
The company further announced that Brian Kotzin has been appointed as non-executive director to the Board of Directors and Chair of the Research & Development Committee for a term of four years.
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