Legend Biotech Corp Stock Price, News & Analysis

Legend Biotech announced the presentation of pivotal long-term follow-up data from the CARTITUDE-1 study supporting the recent FDA approval of CARVYKTI™ (ciltacabtagene autoleucel) for multiple myeloma. At the ASCO and EHA 2022 meetings, the company will showcase updates from the CARTITUDE clinical development program, including results from Cohorts A and B of the CARTITUDE-2 study. These studies assess cilta-cel's efficacy in various treatment settings for relapsed or refractory multiple myeloma.

Legend Biotech Corporation has promoted Lori Macomber, CPA, to Chief Financial Officer (CFO), effective immediately. She takes over from Dr. Ying Huang, who remains the Chief Executive Officer. Lori has been with the company since September 2019, serving in various financial roles including Vice President of Finance. Recognized for her financial expertise, she aims to drive sustainable growth as the company transitions into a fully commercial organization. Legend Biotech continues to focus on developing advanced therapies for life-threatening diseases.

Legend Biotech Corporation (NASDAQ: LEGN) announced participation in several key investor conferences in May and June 2022. The first event is the Bank of America Securities 2022 Healthcare Conference, scheduled for May 11, 2022, at 5:20 PM PT in Las Vegas, with CEO Ying Huang presenting. This will be followed by the Jefferies Global Healthcare Conference on June 8, 2022, at 1:00 PM PT in New York, and the Goldman Sachs Annual Global Healthcare Conference on June 15, 2022, at 1:20 PM PT in California.

Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) reported a net loss of $43M, or $0.67 per share, for Q1 2022. The company holds $346.6M in cash, extending its operational runway into H1 2024. Key updates include the advancement of four clinical programs targeting Danon Disease, Fanconi Anemia, Leukocyte Adhesion Deficiency-I, and Pyruvate Kinase Deficiency, with data readouts expected throughout 2022. Significant leadership appointments were made, including Fady Malik, M.D., to the Board and Carlos Martin as Chief Commercial Officer. The company also anticipates AAV cGMP manufacturing readiness in Q2 2022.

Legend Biotech Corporation (NASDAQ: LEGN) announced a $50 million milestone achievement in its collaboration with Janssen Biotech for the CAR-T therapy, CARVYKTI™ (ciltacabtagene autoleucel), used to treat multiple myeloma. This brings total milestone payments received to $300 million under the agreement, which includes a 50-50 cost and profit-sharing model globally, except in Greater China, where Legend retains 70%. The FDA approved CARVYKTI™ for adult patients with relapsed or refractory multiple myeloma in February 2022.

Legend Biotech Corporation (NASDAQ: LEGN) announced the appointment of Dr. Guowei Fang as Senior Vice President, Global Head of Research and Early Development. Dr. Fang, an accomplished leader in oncology and immunology, previously led research at Zymeworks Inc and Pharmacyclics, contributing to the development of significant cancer therapies. His role will focus on advancing the company’s pipeline for hematologic and solid cancers, enhancing R&D efforts across the US, Ireland, and China. He succeeds Dr. Frank Fan, who resigned on March 30, 2022.

Legend Biotech announces that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) recommended the marketing authorization of CARVYKTI™ (ciltacabtagene autoleucel) for treating adults with relapsed and refractory multiple myeloma. This recommendation is pivotal for Legend Biotech as it hopes to gain EC approval, marking the company’s first EC-approved product. The therapy, developed in collaboration with Janssen Pharmaceutica, has shown promising results in the ongoing CARTITUDE-1 study. The FDA previously approved cilta-cel on February 28, 2022.

Janssen Pharmaceutical Companies announced a positive recommendation from the European Medicines Agency's CHMP for cilta-cel, a CAR-T therapy targeting relapsed and refractory multiple myeloma in adults with prior therapy failures. Cilta-cel, developed in collaboration with Legend Biotech, is supported by pivotal CARTITUDE-1 study data and aims to provide new treatment options for this challenging disease. The therapy received FDA approval in February 2022 and addresses an urgent need in multiple myeloma treatment.

Legend Biotech Corporation (NASDAQ: LEGN) has been awarded the Newcomer of the Year at the Foreign Investment Trophy ceremony by Flanders Investment & Trade in Belgium. The company received this recognition for its substantial investment in a cutting-edge manufacturing facility in Flanders, a collaboration with Janssen Pharmaceutica N.V. This facility will be the first dedicated cell therapy manufacturing site in the region and is designed to produce cilta-cel, a CAR-T therapy for multiple myeloma. The site is projected to be operational in 2023.