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J&J takeout of Momenta lifts argenx SE

August 19, 2020

Thinly traded argenx SE (NASDAQ:ARGX) perks up 1% premarket on light volume on the heels of Johnson & Johnson’s (NYSE:JNJ) $6.5B takeout of Momenta Pharmaceuticals (NASDAQ:MNTA).

The Belgian biotech’s antibody engineering technology is similar to Momenta’s, both involving the Fc region where antibodies modulate other cells in the immune system.

In May, argenx reported positive results from a Phase 3 clinical trial evaluating lead drug efgartimod in myasthenia gravis.

Momenta is developing lead asset nipocalimab for the same indication (among others).

https://seekingalpha.com/news/3606965-j-and-j-takeout-of-momenta-lifts-argenx-se

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