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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