Legend Biotech Corp Stock Price, News & Analysis

Legend Biotech Corporation (NASDAQ: LEGN) announced the appointment of Dr. Ying Huang, CEO and CFO, to its Board of Directors as a Class I director. Dr. Huang, who has led the company since September 2020 and has extensive experience in biotech equity research, is expected to enhance the board's governance. The company is also focused on advancing its lead product candidate, ciltacabtagene autoleucel, for multiple myeloma treatment, which is under regulatory review by health authorities including the FDA and EMA.

Legend Biotech Corporation (NASDAQ: LEGN) has announced an underwritten public offering of 7,500,000 American depositary shares (ADSs) at $40.00 each, aiming for gross proceeds of approximately $300.0 million. An additional 1,125,000 ADSs may be purchased by underwriters within 30 days. The offering, set to close on December 20, 2021, is made under an effective shelf registration statement with the SEC. The proceeds are expected to bolster Legend Biotech's development of innovative cell therapies, including its lead candidate for multiple myeloma.

Legend Biotech Corporation (NASDAQ: LEGN) announced plans to offer $300 million of American Depositary Shares (ADSs), each representing two ordinary shares, in a public offering. Additionally, they may allow underwriters a 30-day option to purchase up to $45 million more in ADSs. The offering is contingent upon market conditions and will be conducted under a previously effective shelf registration statement with the SEC. Leading financial institutions, including Morgan Stanley and J.P. Morgan, are managing the offering.

Legend Biotech (NASDAQ: LEGN) presented new data from the CARTITUDE clinical development program for cilta-cel at the 2021 ASH Annual Meeting. Updated results from the CARTITUDE-1 study showed a 98% overall response rate and an 83% stringent complete response rate after nearly two years. The study also reported 61% progression-free and 74% overall survival rates at two years. The CARTITUDE-2 study results indicated a 95% overall response rate in patients with early relapse. Safety profiles remained manageable with no new adverse events reported.

Janssen Pharmaceutical Companies of Johnson & Johnson announced promising long-term results from the Phase 1b/2 CARTITUDE-1 study of ciltacabtagene autoleucel (cilta-cel) for relapsed/refractory multiple myeloma. At a median follow-up of 22 months, 83% of patients achieved a stringent complete response, while 92% of evaluable patients achieved minimal residual disease negativity. Median progression-free survival and overall survival were not reached, with two-year rates of 61% and 74%, respectively. The safety profile remained consistent, and no new safety signals were observed.

GenScript ProBio has inaugurated China's largest GMP plasmid manufacturing facility in Zhenjiang, Jiangsu Province, enhancing its service offerings for plasmids used in cell and gene therapy. The 6,400-square-meter plant significantly increases production capacity and positions the company as a leading Contract Development and Manufacturing Organization (CDMO). It provides comprehensive plasmid services from preclinical studies to commercial manufacturing, supporting mRNA vaccine development and clinical trial approvals globally, including in China and South Korea.

Legend Biotech Corporation (NASDAQ: LEGN) announced the submission of a New Drug Application (NDA) for its CAR-T cell therapy, ciltacabtagene autoleucel (cilta-cel), to Japan's Ministry of Health. This submission is based on pivotal data from the CARTITUDE-1 study targeting adults with relapsed or refractory multiple myeloma. Cilta-cel has received several designations, including Breakthrough Therapy Designation. The ongoing international regulatory review underscores its potential to address significant treatment gaps for patients with limited options.

Legend Biotech Corporation (NASDAQ: LEGN) will host a hybrid event on Monday, December 13 at 8pm ET, featuring key opinion leaders in multiple myeloma. The meeting will present new data from the CARTITUDE Clinical Development Program focused on ciltacabtagene autoleucel (cilta-cel), an investigational CAR-T therapy for patients with relapsed/refractory multiple myeloma. This presentation follows the studies at the 63rd ASH Annual Meeting. Interested parties can access the event on the Legend Biotech website.

Legend Biotech Corporation (NASDAQ: LEGN) has submitted a New Drug Application (NDA) for ciltacabtagene autoleucel (cilta-cel) to the Japanese Ministry of Health, Labour and Welfare. This investigational CAR-T cell therapy targets B-cell maturation antigen (BCMA) for adults with relapsed or refractory multiple myeloma who have undergone at least three prior therapies. The NDA is based on the CARTITUDE-1 study results, and cilta-cel is under review by various global health authorities, including in the U.S. and Europe.