FINWIRES · TerminalLIVE
FINWIRES

Update: argenx Shares Rise After Autoimmune Myositis Drug Meets Main Goal in Phase 3 Study

By

(Updates with reporting date in the first paragraph, and the latest stock move in the headline and first paragraph)

argenx (ARGX) shares rose more than 16% in Monday trading after the company said a phase 3 study evaluating its experimental drug, Vyvgart Hytrulo, in adults with autoimmune myositis met its main goal.

The company said the patients treated with the drug showed a statistically significant improvement in mean total improvement score at week 52 compared with placebo.

Treatment benefits emerged as early as week 4 and were sustained through the 52-week treatment period, including during steroid tapering, the company said.

argenx said the primary endpoint was also met in patients with immune-mediated necrotizing myopathy, while dermatomyositis patients showed a similar improvement, although it did not reach statistical significance.

Price: $989.87, Change: $+138.58, Percent Change: +16.28%

Related Articles

Wire

S&P 500 Ekes Out Weekly Gain Amid Growing Probability of Fed Pause Extension

The Standard & Poor's 500 index rose 0.4% this week after cooling inflation and an unexpected drop in retail sales boosted the odds for a sixth straight monetary policy pause in September.The market benchmark ended the week at 7,785.76. The index is now up 3.8% quarter-to-date and 14% this year.The probability of the Federal Reserve extending its policy pause next month jumped after July's consumer and wholesale price inflation rates, both headline and core, declined and retail sales for the month unexpectedly slumped the most since May 2025. There's now a 67% chance that the Fed will leave interest rates unchanged, up from 56% a week ago, according to the CME FedWatch tool.Treasury Secretary Scott Bessent said on CNN that the US plans to announce measures on Iran next week that have "never been seen."Defense Secretary Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera reported.The energy sector in the S&P 500 had the largest percentage gain of the week, up 7.3%, followed by a 1.5% advance in utilities and 1% increases for both consumer staples and health care. Financials, industrials, real estate and tech also rose week to week.Phillips 66 (PSX) is expected to accelerate share repurchases in H2 this year, supported by ongoing balance sheet deleveraging, UBS said in a note. Separately, Phillips 66, Kinder Morgan (KMI), and HF Sinclair (DINO) said they have reached a final investment decision to move forward with a joint venture to build the $5 billion Western Gateway Pipeline system. Shares of Phillips 66 surged 15% this week.Three S&P 500 sectors that declined this week were consumer discretionary, communication services and materials, down 2%, 1% and 0.9%, respectively.Tapestry (TPR) shares tumbled 21% this week after the company set out a fiscal 2027 revenue outlook below the midpoint of Wall Street's forecast range, taking the shine off stronger-than-expected fiscal Q4 adjusted earnings and revenue.AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said in a report. BofA downgraded its rating on AppLovin stock to neutral from buy and lowered its price target to $400 from $430. Shares of Applovin slumped 9% this week.Home Depot (HD), Analog Devices (ADI), TJX Companies (TJX), Lowe's Companies (LOW), Target (TGT), Walmart (WMT), Deere (DE), Ross Stores (ROST), NetEase (NTES) are among the companies reporting quarterly results next week.Economic data due next week includes the July minutes of the Federal Open Market Committee meeting, S&P Global manufacturing and services purchasing managers' indexes, industrial production, building permits and housing starts.

S&P 500$ADI$APP$DE$DINO$HD$KMI$LOW$NTES$PSX$ROST$TGT$TJX$TPR$WMT
Wire

Motorsport Games Q2 Adjusted Earnings Fall, Revenue Rises

Motorsport Games (MSGM) reported Q2 adjusted earnings late Friday of $0.19 per diluted share, down from $0.25 a year earlier.Revenue in the three months ended June 30 rose to $3.54 million from $2.59 million a year earlier.One analyst surveyed by FactSet expected $2.9 million.The company's shares rose 3.4% in after-hours trading.

$MSGM
Wire

Update: Market Chatter: Energy Transfer's Green Chile Pipeline Delayed to February 2027

(Updates to add company's comment in third paragraph)Energy Transfer's (ET) Green Chile Project pipeline, a New Mexico natural gas project that would supply power-generation systems for a planned Oracle Corp. (ORCL) data center, has been delayed and is now expected to enter service next year, Bloomberg News reported Friday.The pipeline, operated by Energy Transfer subsidiary Transwestern Pipeline, had earlier targeted an Aug. 15 in-service date but revised it to Feb. 1, 2027, the report said, citing a regulatory filing."Project Jupiter remains on schedule, and we continue to work closely with our partners to move the project forward," said Oracle's spokesperson.Energy Transfer did not immediately respond to request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $21.02, Change: $+0.25, Percent Change: +1.23%

$ET$ORCL