Legend Biotech Added to the NASDAQ Biotechnology Index

Rhea-AI Summary

Legend Biotech Corporation (NASDAQ: LEGN) has been added to the NASDAQ Biotechnology Index, effective December 21, 2020. This addition is part of the annual re-ranking, where 100 biotech stocks were included, while 16 were removed. The NASDAQ Biotechnology Index tracks biotechnology and pharmaceutical securities listed on NASDAQ, calculated using a modified capitalization-weighted methodology. Legend Biotech focuses on novel cell therapies for oncology, notably its lead candidate, ciltacabtagene autoleucel, for multiple myeloma, currently in registrational clinical trials.

Positive

• Addition to the NASDAQ Biotechnology Index potentially increases visibility and credibility among investors.
• Engaged in strategic collaboration for ciltacabtagene autoleucel, indicating strong product pipeline.

Negative

• None.

Legend Biotech Corporation (NASDAQ: LEGN) (“Legend Biotech”), a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications, today announced that it has been selected for addition to the NASDAQ Biotechnology Index^® (Nasdaq: NBI). The annual re-ranking of the NASDAQ Biotechnology Index will become effective prior to market open on Monday, December 21, 2020. For this year’s re-ranking of the index, 100 biotech stocks were added and 16 were removed.

The NASDAQ Biotechnology Index is designed to track the performance of a set of securities listed on The NASDAQ Stock Market^® (NASDAQ^®) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB), and which also meet other eligibility criteria. The NASDAQ Biotechnology Index is calculated under a modified capitalization-weighted methodology. For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit www.nasdaq.com.

About Legend Biotech

Legend Biotech is a global clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and other indications. Our team of over 800 employees across the United States, China and Europe, along with our differentiated technology, global development, and manufacturing strategies and expertise, provide us with the strong potential to discover, develop, and manufacture cutting-edge cell therapies for patients in need. We are engaged in a strategic collaboration to develop and commercialize our lead product candidate, ciltacabtagene autoleucel, an investigational BCMA targeted CAR-T cell therapy for patients with multiple myeloma. This candidate is currently being studied in registrational clinical trials. To learn more about Legend Biotech, visit us on LinkedIn, or on Twitter @LegendBiotech or at www.legendbiotech.com.

Cautions Concerning Forward-Looking Statements

This information constitutes forward-looking statements relating to the publication of, and inclusion of Legend in, the NASDAQ Biotechnology Index. Such forward-looking statements reflect the current expectations of Legend’s management regarding this future event, and involve factors that may cause actual results to be different from such statements. In particular, Legend’s expectations could be affected by, among other things, changes in the eligibility criteria for the NASDAQ Biotechnology Index or their application.

The information in this press release speaks only as of the date hereof. Legend assumes no duty to update the information to reflect subsequent developments. Readers should not rely upon the information on this page as current or accurate after its publication date.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201214005771/en/

FAQ

What is the significance of Legend Biotech being added to the NASDAQ Biotechnology Index?

Being added to the NASDAQ Biotechnology Index enhances Legend Biotech's visibility and credibility in the market, potentially attracting more investors.

When will Legend Biotech be officially added to the NASDAQ Biotechnology Index?

Legend Biotech will be officially added to the NASDAQ Biotechnology Index prior to market open on December 21, 2020.

What is Legend Biotech's lead product candidate?

Legend Biotech's lead product candidate is ciltacabtagene autoleucel, an investigational CAR-T cell therapy for treating multiple myeloma.

How many biotech stocks were added to the NASDAQ Biotechnology Index this year?

This year, 100 biotech stocks were added to the NASDAQ Biotechnology Index.

What does the NASDAQ Biotechnology Index track?

The NASDAQ Biotechnology Index tracks the performance of biotechnology and pharmaceutical securities listed on NASDAQ.