The sharp downward movement in argenx SE shares was primarily driven by the company’s announcement that it is discontinuing its Phase 3 UNITY study evaluating subcutaneous efgartigimod in adults with moderate-to-severe Sjogren’s disease. The decision followed a formal recommendation from an Independent Data Monitoring Committee, which determined during an interim analysis that the trial was unlikely to meet its primary efficacy endpoint measuring systemic disease activity. Sjogren’s disease represented a highly anticipated expansion opportunity for the firm’s flagship Vyvgart franchise into rheumatology. Because market participants had modeled this indication as a key leg of growth for the drug’s long-term commercial potential, the…