Pharma: Argenx and Aim Immunotech for long Covid

Argenx: $ARGX || Drug: Efgartigimod/Vyvgart

Aim Immunotech: $AIM || Drug: Ampligen

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So both these companies are in phase 2 right now for Long Covid and there’s little doubt that they’re going to pull a positive result, as for Vyvgart there’s other therapies that it mimics that have worked and this are just better version of them and for Ampligen, it works for Myalgic Encephalopathy and there’s anecdotes online from the trial of major improvement (could be bs).

They’re both expected to release results in Q1 2024, Vyvgart is also expecting approval for CIDP soon after an amazing phase 3 result

https://www.fiercepharma.com/pharma/vyvgart-shines-cidp-study-teeing-another-potential-nod-argenxs-pipeline-product

These are both Pharma companies at wildly different stages:

• Argenx has approved drugs and Vyvgart is already approved for certain conditions.

• Aim Immunotech have no approved drug and are all reliant on Ampligen which is being trialled for Cancer and Long Covid. They’re also out-licensing the drug for other companies to combine in cancer protocols (this isn’t uncommon for start up cancer drugs and is a good thing as I understand)

https://aimimmuno.com/aim-immunotech-engages-business-development-firm-azenova-llc-to-catalyze-partnering-development-and-commercialization-efforts-for-ampligen-pipeline-programs/

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Now, my question for those who are knowledgeable on Pharma stocks and I’m aware this is complete speculation, I’m just interested in opinions

Will a positive result in the phase 2 for long Covid (market value expected to be in the large billions) make these stocks bump, or is the only thing that matters approval?

TLDR: does positive phase 1/2/3 results impact stocks much, or only approval