By Sabela Ojea

Argenx said Monday that it is offering $750 million of ordinary shares.

The biotechnology company said the offering will be comprised of ordinary shares represented by American Depository Shares in the U.S. and other countries outside the European Economic Area, and a simultaneous private placement of ordinary shares in the European Economic Area and the U.K.

The company's shares ended the trading session on Monday up 28% at $484.43.

Argenx's offering comes a month after the company said it received Food and Drug Administration approval for its Vyvgart Hytrulo injection to treat certain adult patients with generalized myasthenia gravis, a chronic autoimmune, neuromuscular disease that can weaken skeletal muscles.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

July 17, 2023 16:43 ET (20:43 GMT)

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