Movement Alert｜Legend Biotech Rises 5.44% in Regular Trading, $226 Million ADS Offering Completed Combined with Positive Lymphoma Therapy Data

Market Focus06-23 00:50

On June 23, Legend Biotech rose 5.44% in regular trading, trading at $29.41/share, with turnover of $36.68 million. The stock gained momentum as multiple positive catalysts converged to boost market sentiment.

On the news front, Legend Biotech recently completed an underwritten public offering of 7.7 million American Depositary Shares priced at $29.35 each, generating gross proceeds of approximately $226 million. The successful pricing and closing of the offering eliminated financing uncertainty overhang on the stock.

Additionally, the company announced early clinical proof-of-concept data for its in vivo CD19/CD20 dual-targeting CAR-T candidate LB2501 in relapsed or refractory B-cell non-Hodgkin lymphoma. At the higher dose level, a single infusion produced a 100% objective response rate and an 83.3% complete response rate among six patients. The therapy demonstrated dose-dependent CAR-T expansion and a favorable safety profile with no dose-limiting toxicities, serious adverse events, neurotoxicity, or deaths. The combination of secured financing and promising pipeline data supported improved investor confidence.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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