bullish
Legend Biotech (LEGN US): Shares Popped on Promising Clinical Data; Further Upside Potential Remains
395 Views20 Apr 2023 20:59
SUMMARY
- Legend Biotech Corp (LEGN US) shares broke into a new high after a leaked abstract showed Carvykti cuts risk of progression or death by 74% in earlier multiple myeloma therapy.
- Success of Carvykti in earlier lines of MM therapy will lead to rapid intake of the drug and increase the drug’s peak sales opportunity to $5B.
- During 2022, Carvykti generated ~$134M in net trade sales. With label and geography expansion of Carvykti, Legend Biotech shares still have further upside potential.
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Rising
Tina Banerjee
Global Healthcare Analyst
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- Legend Biotech (LEGN US): Mixed 3Q23 Result; Carvykti Is Flying High; New Licensing Agreement23 Nov 2023
- Legend Biotech (LEGN US): Strong Carvykti Sales in Q2; Indication Expansion Is on the Cards06 Oct 2023
- Legend Biotech Corp (LEGN US): Carvykti Approval Is the Silver Lining Amid Uncertainty of Delisting17 Apr 2022
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