"Data Leak Boosts LEGN Stock and J&J's Carvykti"
Legend Biotech's stock surged 19.6% after reportedly positive test results for its blood cancer drug Carvykti, which led to a 74% reduction in the risk of relapse in the Phase 3 study called Cartitude-4. The drug could be the best in its CAR-T class for treating multiple myeloma, according to RBC Capital Markets analyst Leonid Timashev. The results offer a potential $9.6 billion treatment opportunity not fully reflected in LEGN stock.