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Argenx disclosed that its drug Vyvgart failed to outperform placebo in a Phase 3 trial for patients with Sjogren's disease, a chronic autoimmune disorder.
The company stopped the trial early after a data monitoring committee determined the primary endpoint would not be met, marking an unusual setback for the firm.
STAT reports that Argenx has accumulated a series of wins in autoimmune disorders, helping it become one of the world's largest biotech companies based on market capitalization.
Despite this history, analysts from William Blair had projected $1.4 billion in peak sales for Vyvgart in Sjogren's disease.
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