All articles tagged with #legend biotech
J&J and Legend Biotech's CAR-T therapy, Carvykti, showed a 74% reduction in the risk of disease progression or death for adults with multiple myeloma who had received between one and three previous treatments. However, it remains to be seen how many patients will take the therapy and when it will become widely available.
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.
Johnson & Johnson's CAR-T therapy, Carvykti, developed in partnership with Legend Biotech, has shown a 74% reduction in the risk of multiple myeloma progression or death, according to leaked abstract data. The results could put Carvykti ahead of competitor Abecma, developed by Bristol Myers Squibb and 2seventy bio, in earlier lines of treatment if and when it's approved for those indications. The study's results surprised analysts, with a Cowen analyst describing it as "game-changing efficacy," and sent Legend's shares 14% higher after Wednesday's opening bell.