Leg­end seeks $250M af­ter pos­i­tive #AS­CO22 da­ta, but chal­lenges re­main for the J&J part­ner

J&J-part­nered Leg­end Biotech has had its share of both good and bad news in re­cent weeks, and ex­ecs ev­i­dent­ly be­lieve the for­mer out­weighs the lat­ter.

The com­pa­ny an­nounced Mon­day af­ter­noon that it’s putting to­geth­er a new pub­lic of­fer­ing, with the goal of rais­ing $250 mil­lion. Mon­day’s move comes af­ter Carvyk­ti, the ap­proved CAR-T ther­a­py sold by Leg­end and J&J, re­port­ed pos­i­tive dura­bil­i­ty da­ta at #AS­CO22, but al­so af­ter Leg­end scrapped a fol­low-up CAR-T tri­al ear­li­er this month.

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