Shares of Argenx SE (NASDAQ: ARGX) were up more than 44% for the week as of 12:15 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence. The biotech company's stock closed last week at $379.08, then rose to as high as $548.94 on Friday afternoon by 12:15 p.m. ET. The stock is up more than 53% this year.

Argenx said its therapy Vyvgart Hytrulo fared well as a treatment for adults with chronic inflammatory demyelinating polyneuropathy (CIDP), a type of autoimmune disorder wherein the body attacks myelin sheaths, which are fatty coverings that insulate and protect the nerves.

The late-stage study looked at adults who were not on active therapy for CIDP. Argenx said the study met its primary endpoint, showing a 61% lower risk of relapse compared to a placebo.

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Source Fool.com