argenx Reports Third Quarter 2020 Financial Results and Provides Business Update - Biologics License Application (BLA) for efgartigimod in generalized myasthenia gravis (gMG) on track to be submitted to U.S. Food and Dru

argenx Reports Third Quarter 2020 Financial

Results and Provides Business Update

- Biologics License Application (BLA) for

efgartigimod in generalized myasthenia gravis (gMG) on track to be submitted to U.S. Food and Drug Administration (FDA)

- Global Phase 3 ADDRESS trial evaluating

subcutaneous (SC) efgartigimod in pemphigus patients on track to initiate by end of 2020 -

- Decision to continue ADHERE trial beyond

first 30 patients in chronic inflammatory demyelinating polyneuropathy (CIDP) now expected in first half of 2021 -

- Management to host conference call today

at 2:30 pm CEST (8:30 am ET) -

Breda, the Netherlands / Ghent, Belgium

- argenx (Euronext & Nasdaq: ARGX), a global immunology company committed to improving the lives of people

suffering from severe autoimmune diseases and cancer, today announced its financial results for the third quarter ended September 30,

2020 and provided a business update.

"It has been an important year for

argenx, marked by a number of significant achievements that position us to file our first BLA for efgartigimod as a new treatment

for gMG by year-end. We remain focused on both the BLA filing and commercial preparations as we work to bring efgartigimod to patients

as soon as possible," said Tim Van Hauwermeiren, CEO of argenx. "We have built an exceptional team, established our

global supply chain and connected with physicians, payors and patient advocacy groups - all critical elements for a successful

"We are building a broad FcRn antagonist

program by leveraging the potential of efgartigimod across a number of important indications where there is a high unmet need for

innovation. Our global Phase 3 ADDRESS trial in pemphigus is on track to start soon and, as we did with the ADAPT trial in MG,

we have carefully designed the trial alongside patients and physicians to best address the complex challenges presented by this

serious disease. We continue to ground our pipeline expansion strategy in biology, working from the science to address severe autoimmune

diseases and advance our argenx 2021' vision across our emerging franchises," continued Mr. Van Hauwermeiren.

THIRD QUARTER 2020 AND RECENT BUSINESS

Preparations underway to support potential

approval and launch of FcRn antagonist, efgartigimod, in gMG in U.S., Japan and EU

Presented supportive data from global

Phase 3 ADAPT trial of efgartigimod in gMG at recent medical meetings, showing rapid and clinically meaningful responses to efgartigimod

and a safety profile comparable to placebo

Broad efgartigimod development plan

progressing with Phase 2 trial of fifth indication expected to start in mid-2021

Development of cusatuzumab ongoing as

potential treatment for acute myeloid leukemia (AML) and higher-risk myelodysplastic syndromes (MDS) as part of global collaboration

and licensing agreement with Cilag GmbH International, an affiliate of Janssen

Initiated Phase 1 healthy volunteer

study of IV and SC ARGX-117 targeting complement C2

Continued investment in Immunology Innovation

Program to build pipeline of first-in-class antibodies against immunologic targets

Q3 2020 FINANCIAL RESULTS

DETAILS OF THE FINANCIAL RESULTS

Cash, cash equivalents and current financial

assets totaled 1,804.0 million on September 30, 2020, compared to 1,335.8 million on December 31, 2019. The

increase in cash and cash equivalents and current financial assets resulted primarily from the closing of a global offering, including

a U.S. offering and a European private placement, which resulted in the receipt of 730.7 million in net proceeds in June 2020,

and net cash flows used in operating activities.

Total operating income decreased by 18.6

million for the nine months ended September 30, 2020 to 42.6 million, compared to 61.2 million for the nine months

ended September 30, 2019. The decrease was due to the milestone payments following the first-in-human clinical trial with

ABBV-115 under the AbbVie collaboration which was achieved in the nine months ended September 30, 2019. This was partly offset

by higher revenue recognition of the transaction price related to the Janssen collaboration and the increase in other income driven

by higher payroll tax rebates for employing certain research and development personnel.

Research and development expenses increased

by 123.5 million for the nine months ended September 30, 2020 to 246.3 million, compared to 122.8 million

for the nine months ended September 30, 2019. The increase in the first nine months of 2020 resulted primarily from higher

external research and development expenses, primarily related to the efgartigimod program in various indications, the cusatuzumab

program and other clinical and preclinical programs. Furthermore, the personnel expenses increased due to a planned increase in

Selling, general and administrative expenses

totaled 100.4 million for the nine months ended September 30, 2020, compared to 41.7 million for the nine months

ended September 30, 2019. The increase resulted primarily from higher personnel expenses and consulting fees related to the

preparation of a possible future commercialization of argenx's lead product candidate efgartigimod.

For the nine months ended September 30,

2020, financial expenses, which primarily relate to interest received and changes in fair value of current financial assets, amounted

to 1.7 million, compared to a financial income of 10.8 million for the nine months ended September 30, 2019. Financial

expenses corresponded mainly to a decrease in net asset value of current financial assets following the impact of the COVID-19

outbreak on the financial markets.

Exchange losses totaled 55.9 million

for the nine months ended September 30, 2020, compared to an exchange gain of 26.9 million for the nine months ended

September 30, 2019. The change is mainly attributable to unrealized exchange rate losses on the cash, cash equivalents and

current financial asset position in U.S. dollars.

EXPECTED 2021 FINANCIAL CALENDAR:

CONFERENCE CALL DETAILS

The third quarter 2020 results and business

update will be discussed during a conference call and webcast presentation today at 2:30 pm CEST/8:30 am ET. A webcast of the live

call may be accessed on the Investors section of the argenx website at argenx.com/investors. A replay of the webcast will be available

on the argenx website.

Please dial in 15 minutes prior to the

argenx is a global immunology company

committed to improving the lives of people suffering from severe autoimmune diseases and cancer. Partnering with leading academic

researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class

portfolio of novel antibody-based medicines. argenx is evaluating efgartigimod in multiple serious autoimmune diseases, and cusatuzumab

in hematological cancers in collaboration with Janssen. argenx is also advancing several earlier stage experimental medicines

within its therapeutic franchises. argenx has offices in Belgium, the United States, and Japan. For more information, visit www.argenx.com

For further information, please contact:

Beth DelGiacco, Vice President, Corporate Communications &

Joke Comijn, Director Corporate Communications & Investor

Forward-looking Statements

The contents of this announcement include

statements that are, or may be deemed to be, "forward-looking statements." These forward-looking statements can be

identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates,"

"expects," "intends," "may," "will," or "should" and include statements

argenx makes concerning its 2020 business and financial outlook and related plans; the therapeutic potential of its product candidates;

the intended results of its strategy and argenx's, and its collaboration partners', advancement of, and anticipated

clinical development, data readouts and regulatory milestones and plans, including the timing of planned clinical trials and expected

data readouts; the design of future clinical trials and the timing and outcome of regulatory filings and regulatory approvals. By

their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking

statements are not guarantees of future performance. argenx's actual results may differ materially from those predicted by