argenx is a commercial-stage biopharmaceutical company focused on autoimmune diseases, built primarily around a single drug: efgartigimod, marketed as VYVGART. VYVGART works by blocking the neonatal Fc receptor (FcRn), which accelerates degradation of IgG antibodies — the drivers of many autoimmune diseases. Because the mechanism is not disease-specific, VYVGART has broad indication potential. The drug is currently approved for generalized myasthenia gravis (gMG), chronic inflammatory demyelinating polyneuropathy (CIDP), and immune thrombocytopenia (ITP, Japan only). VYVGART is offered as an IV infusion, a subcutaneous injection, and a prefilled syringe (PFS) for home self-injection, the latter launched in the U.S. in 2025. argenx sells VYVGART through its own commercial teams in the U.S., Europe, Japan, and Canada, targeting specialist neurologists. In Greater China, argenx has licensed rights to Zai Lab in exchange for royalties and milestones. Revenue is driven by the number of patients on treatment — currently approximately 19,000 globally — and net price per patient, which runs roughly $225,000 per year in MG and ~$450,000 in CIDP in the U.S. Beyond VYVGART, argenx is running registrational trials in seven additional indications and is developing empasiprubart, a complement C2 inhibitor in Phase 3 for MMN and CIDP, as a potential second product franchise. New molecules are generated through argenx's Immunology Innovation Platform, an academic co-creation model using proprietary llama-derived antibody discovery technology.