Argenx Drops After Discontinuing Thyroid Eye Disease Drug Trial

Argenx SE shares fell the most in seven months after the biotech firm said it will discontinue late-stage trials for an experimental medicine to treat an autoimmune disease affecting the eyes.

Efgartigimod, which is sold under the brand name Vyvgart, was being evaluated in adults with moderate to severe thyroid eye disease. The decision to stop the trials is based on the recommendation from an independent data monitoring committee, Argenx said. The stock fell as much as 9.7% in Brussels, the most since May 8.