February 27, 2020 / 6:22 AM / a month ago

BRIEF-Argenx FY Operating Loss Widens To 178.6 Million Euros

Feb 27 (Reuters) - argenx SE:

* ARGENX REPORTS FULL YEAR 2019 FINANCIAL RESULTS AND PROVIDES FOURTH QUARTER BUSINESS UPDATE

* TOPLINE DATA FROM PHASE 3 ADAPT TRIAL OF EFGARTIGIMOD IN GMG EXPECTED IN MID-2020

* CONTINUED PROGRESS ACROSS BROADEST FCRN ANTAGONIST PIPELINE WITH UP TO FIVE PHASE 3 TRIALS TO BE ONGOING IN 2020

* ENDED 2019 WELL-CAPITALIZED TO ADVANCE LATE-STAGE PIPELINE WITH EUR 1.3 BILLION IN CASH, CASH EQUIVALENTS AND CURRENT FINANCIAL ASSETS

* TOTAL COMPREHENSIVE LOSS FOR YEAR ENDED DECEMBER 31, 2019 WAS EUR 163.0 MILLION COMPARED TO EUR 66.6 MILLION FOR YEAR ENDED DECEMBER 31, 2018.

* FOR THE YEAR ENDED DECEMBER 31, 2019, FINANCIAL INCOME AMOUNTED TO €14.4 MILLION COMPARED TO €3.7 MILLION FOR THE YEAR ENDED DECEMBER 31, 2018

* OPERATING INCOME INCREASED BY €53.4 MILLION FOR THE YEAR ENDED DECEMBER 31, 2019 TO €82.6 MILLION, COMPARED TO €29.2 MILLION FOR THE YEAR ENDED DECEMBER 31, 2018

* CASH, CASH EQUIVALENTS AND CURRENT FINANCIAL ASSETS TOTALED €1,335.8 MILLION FOR THE YEAR ENDED DECEMBER 31, 2019

* FY REVENUE EUR 69.8 MILLION VERSUS EUR 21.5 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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