argenx SE ADR 2026年年度报告和过渡报告

TABLE OF CO NTENTS ITEM 1.IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERSITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLEITEM 3.KEY INFORMATION A.[RESERVED]B.CAPITALIZATION AND INDEBTEDNESSC.REASONS FOR THE OFFER AND USE OF PROCEEDSD.RISK FACTORSINFORMATION ON THE COMPANY ITEM 4. A.HISTORY AND DEVELOPMENT OF THE COMPANYB.BUSINESS OVERVIEWC.ORGANIZATIONAL STRUCTURED.PROPERTY, PLANTS AND EQUIPMENT ITEM 5.OPERATING AND FINANCIAL REVIEW AND PROSPECTS A.OPERATING RESULTSB.LIQUIDITY AND CAPITAL RESOURCESC.RESEARCH AND DEVELOPMENT, PATENTS AND LICENSESD.TREND INFORMATIONE.CRITICAL ACCOUNTING ESTIMATES ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES PARTIF.DISCLOSURE OF A REGISTRANT’S ACTION TO RECOVER ERRONEOUSLY AWARDEDCOMPENSATION ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS120 A.MAJOR SHAREHOLDERS120B.RELATED PARTY TRANSACTIONS123C.INTERESTS OF EXPERTS AND COUNSEL124 A.CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION124B.SIGNIFICANT CHANGES125ITEM 9.THE OFFER AND LISTING125 A.OFFER AND LISTING DETAILSB.PLAN OF DISTRIBUTIONC.MARKETSD.SELLING SHAREHOLDERSE.DILUTIONF.EXPENSES OF THE ISSUE ITEM 10.ADDITIONAL INFORMATION125A.SHARE CAPITAL125 B.MEMORANDUM AND ARTICLES OF ASSOCIATION125C.MATERIAL CONTRACTS128D.EXCHANGE CONTROLS128 E.TAXATION128F.DIVIDENDS AND PAYING AGENTS144G.STATEMENT BY EXPERTS144H.DOCUMENTS ON DISPLAY144I.SUBSIDIARY INFORMATION145QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK145 ITEM 12.DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES146A.DEBT SECURITIES146 B.WARRANTS AND RIGHTSC.OTHER SECURITIESD.AMERICAN DEPOSITARY SHARES 146146147 PARTII A.DISCLOSURE CONTROLS AND PROCEDURES149B.MANAGEMENT’S ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIALREPORTING149C.ATTESTATION OF THE REGISTERED PUBLIC ACCOUNTING FIRM150D.CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING150[RESERVED]150 Introduction Unless otherwise indicated, “argenx,” “argenx SE,” “the Company,” “our company,” “we,” “us”, “our” our “Group”refer to argenx SE and its consolidated subsidiaries. We own various trademark registrations and applications, and unregistered trademarks, including but not limited toVYVGART®, VYVGART HYTRULO™, VYVDURA®, ARGENX™, ABDEG™, NHANCE™, SIMPLEANTIBODY™, ARGENXMEDHUB™, MG UNITED™, SHINING THROUGH CIDP™, VYVIDLY™ and ourcorporate logo. Trade names, trademarks and service marks of other companies appearing in this Annual Report are theproperty of their respective holders. Solely for convenience, the trademarks and trade names in this Annual Report maybe referred to without the®and ™ symbols, but such references should not be construed as any indicator that theirrespective owners will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend to useor display other companies’ trademarks and trade names to imply a relationship with, or endorsement or sponsorship,any other companies. VYVGART®(efgartigimod alfa-fcab) (VYVGART) has been approved in the U.S., Japan, the European Union (the EU)and several other countries such as the United Kingdom (UK), Switzerland, Israel, mainland China (Mainland China),Canada, South Korea and United Arab Emirates for the intravenous treatment of generalized myasthenia gravis (gMG). VYVGART is approved in Japan for the treatment of immune thrombocytopenia (ITP). VYVGART subcutaneous (SC) (efgartigimod alfa + hyaluronidase qvfc) (VYVGART SC) has been approved in theU.S. and China as VYVGART HYTRULO™ (VYVGART HYTRULO) and in several other countries, in Japan asVYVDURA®(VYVDURA) and in the EU and the UK as VYVGART for the treatment of gMG. VYVGART SC hasalso been approved in the U.S., China, Japan and the EU for the treatment of chronic inflammatory demyelinatingpolyneuropathy (CIDP). Lastly, VYVGART HYTRULO has also been approved as a prefilled syringe ( PFS) in the U.S. for self-injection byadult patients with gMG and CIDP. For more information on the approval and commercialization status in several jurisdictions, please refer to “Item 4.B -Our Products and Product Candidates”. Unless otherwise specified, references in this Annual Report to VYVGART should be read as references to VYVGARTand/or VYVGART SC, including VYVGART HYTRULO in relation to the U.S. and China, VYVGART in relation tothe EU and the UK and VYVDURA in relation to Japan, depending on the context. Our consolidated financial statements are prepared in accordance with the IFRS®Accounting Standards (IFRS) as issuedby the International Accounting Standards Board (IASB). Our consolidated financial statements are presented in this Annual Report in U.S. dollars. All references in this AnnualReport to “$,” “US$,” “U.S.$,” “U.S. dollars,” “dollars” and “USD” mean U.S. dollars and all references to “€,” “EUR,”and “euros” mean euros, unless otherwise noted. Throughout this Annual Report, references to ADSs mean Americandepositary shares (ADSs) or ordinary shares represented by ADSs, as the case may be. Cautionary Statem