Argenx Se · Q1 2025 earnings

Briefing

argenx Q2 VYVGART sales hit $949M as company turns profitable with EPS of $4.02

argenx SE reported second-quarter 2025 global product net sales of $949 million, up 97% operationally year over year and 19% sequentially, driven by VYVGART growth across myasthenia gravis and CIDP indications. Total operating income was $967 million and operating profit was $201 million versus an operating loss of $45 million in Q2 2024. Net income was $245 million with basic EPS of $4.02 (diluted $3.74). For the first half, product net sales reached $1.74 billion and net income was $415 million. The VYVGART SC prefilled syringe is approved in the U.S. and EU, with more than 2,500 CIDP patients on treatment globally. R&D spending remained elevated at $328 million in Q2 as the company advances registrational and proof-of-concept programs across efgartigimod, empasiprubart, and ARGX-119 toward Vision 2030 targets.

• Q2 product net sales $949M (+97% operational YoY; +19% vs Q1)
• Q2 operating profit $201M vs $(45)M loss; net income $245M
• Basic EPS $4.02 (diluted $3.74) in Q2; H1 product sales $1.74B
• VYVGART SC prefilled syringe launched; 2,500+ CIDP patients on treatment globally
• ARGX-119 advancing to registrational CMS study; multiple H2 2025 pipeline readouts expected

Headline financials

Revenue & EPS history

argenx targets Vision 2030 with 50,000 patients treated globally, 10 labeled indications, and five Phase 3 pipeline candidates by 2030, with six registrational and six proof-of-concept readouts expected by end of 2026.