Legend Biotech Corporation (LEGN) Price Target Raised to $49 on LB5006 Clinical Progress

TheFly reported connected June 3 that UBS accrued its terms people connected LEGN to $49 from $31 portion reiterating a Buy standing connected the stock. The steadfast cited promising aboriginal objective findings from the company's LB5006 program, noting grounds of therapeutic enactment astatine the higher dose level. UBS besides highlighted the treatment's favorable archetypal information observations, which contributed to its affirmative outlook connected the program's improvement potential.

Moreover, connected June 14, Legend Biotech Corporation (NASDAQ:LEGN) reported archetypal objective proof-of-concept results for LB2501, an investigational successful vivo CD19/CD20 dual-targeting CAR-T therapy for relapsed oregon refractory B-cell non-Hodgkin lymphoma. Data from an ongoing Phase 1 survey showed that a azygous infusion produced dose-related CAR-T compartment enlargement without requiring lymphodepletion. At the higher dose level, the therapy delivered a 100% nonsubjective effect complaint and an 83.3% implicit effect rate, with each responses remaining progressive astatine the information cutoff date.

LB2501 also demonstrated a favorable tolerability profile, with nary dose-limiting toxicities, superior adverse events, neurotoxicity events, oregon treatment-related deaths reported. The findings enactment the imaginable of the company's successful vivo CAR-T level and further advancement of the program.

Legend Biotech Corporation (NASDAQ:LEGN) is simply a commercial-stage biopharmaceutical institution processing and manufacturing innovative compartment therapies, with a beardown absorption connected CAR-T treatments for cancer.

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