**Strong Financial Performance**: Argenx reported a total operating income of $589 million for Q3 2024, with product net sales reaching $573 million, reflecting a 20% quarter-over-quarter growth and a 74% increase compared to the prior year. This suggests robust demand for their leading product, VYVGART, primarily in the gMG (generalized Myasthenia Gravis) indication.
**CIDP Launch Metrics**: The CIDP (Chronic Inflammatory Demyelinating Polyneuropathy) launch showed promising progress, with over 300 patients treated by the end of the quarter. Approximately 85-90% of these patients are switching from IVIg, aligning with expectations. However, the growth in patient starts has been linear, which means that the launch growth appears to be steady but not explosive.
**Market Dynamics and Payer Relationships**: Argenx has successfully secured coverage for around 54% of U.S. commercial lives for CIDP. Most payer policies require prior exposure to immunoglobulin therapy, which is typical for this type of treatment. Ongoing negotiations and policy adjustments will be crucial for continued growth; however, these requirements may pose a barrier to rapid market penetration.