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Thursday, November 1, 2018

Piper calls updated leukemia data from Argenx ‘striking’


In its American Society of Hematology abstract data release, Argenx updated Phase I dose escalation data for ARGX-110 combined with azacitidine in 12 newly diagnosed, unfit acute myeloid leukemia patients showing a “striking” 92% overall response rate and 82% were complete responses, Piper Jaffray analyst Edward Tenthoff tells investors in a research note. The analyst says this level of activity is “unprecedented” for acute myeloid leukemia. He has viewed ARGX-110 as an underappreciated asset in Argenx’s pipeline and believes these data support the ongoing Phase II dose expansion study that could offer an accelerated path to approval. Tenthoff reiterates an Overweight rating on Argenx with a $154 price target. The stock in late morning trading is up 14%, or $11.36, to $91.37.

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