Prognosis
Legend Biotech Soars After Cancer Drug Trial Results Revealed Early
- J&J seeks new drug revenue as bestsellers come off patent
- The European Hematology Association has withdrawn the abstract
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Legend Biotech Corp. shares jumped as much as 21%, the most since June 2020, after a European medical association unexpectedly published results from a much-awaited bone marrow cancer drug study conducted in partnership with Johnson & Johnson.
The European Hematology Association quickly withdrew the abstract for the study, but not before analysts read through the results and determined that the efficacy of the drug surpassed their expectations, paving the way for it to possibly gain an edge over another therapy.