- Monday, Legend Biotech Corporation (NASDAQ:LEGN) announced that results from the Phase 3 CARTITUDE-4 study showed that cilta-cel reduced the risk of disease progression or death by 74% compared to standard of care regimens in pretreated adult patients with multiple myeloma.
- In patients with one prior line of therapy, there was a 65% reduction in the risk of disease progression or death.
- Among the secondary endpoints, the overall response rate (ORR) was 85%, 73% achieved a complete response (CR) or better, and the rate of overall minimal residual disease (MRD) negativity reached 61 percent in the cilta-cel arm.
- Related: Analyst’s Verdict on Legend Biotech: Doubts On Commercial Execution, Long-Term Market Share.
- HC Wainwright analyst reiterated the Buy rating and increased the price target from $77 to $82.
- The analyst says that KOLs at the Legend ASCO analyst event seemed optimistic about the data, and it is paradigm-shifting and believe more physicians may shift CAR-T usage into the 2L+ setting, with our expectations for significant revenue uptake in 2L to begin in 2024.
- The analyst notes that the Carvykti launch in 2L MM is expected by YE23, with KOLs seeing less supply bottleneck at myeloma centers.
- The company may achieve significant alleviation of supply constraints in the coming quarters, and accelerated market penetration is expected, the analyst writes.
- Price Action: LEGN shares are up 6.51% at $69.58 on the last check Tuesday.
Tiziana Life Sciences Reports 3-Month Neuroimaging Scores In Multiple Sclerosis Patients Receiving Intranasal Foralumab; A Primary Endpoint With Clinical Measures Of EDSS (Disability) And MFIS (Fatigue) Is Currently Underway
Tiziana Life Sciences, Ltd. (NASDAQ:TLSA) ("Tiziana" or the "Company"), a biotechnology company developing breakthrough immunomodulation therapies via novel routes of drug delivery, today announced for the first time,
