Argenx sees FY23 revenue $1.2B, consensus $1.22B

Argenx reported preliminary financial results for the full-year 2023, including global net product sales and announced its strategic priorities for 2024. As of December 31, 2023, Argenx had approximately $3.2B in cash, cash equivalents and current financial assets. Based on its current operating plans, Argenx expects its combined R&D and SG&A expenses in 2024 to be less than $2B. The projected 2024 cash burn will be approximately $500M. Argenx expects its existing cash, cash equivalents and current financial assets, together with anticipated future product revenues, to fund the Company to profitability.