Scathing short attack from an obscure source accuses Nanjing Legend of manipulating CAR-T data — Genscript shares nosedive
Genscript, the Chinese company behind overnight CAR-T star Nanjing Legend Biotech, has seen its stock nosedive after a damning short report questioned its data integrity, R&D expertise, safety record and manufacturing capability.
The stock dipped as much as 47% on the Hong Kong Stock Exchange before trading was suspended at around a 26% loss — or $1 billion.
While Genscript has yet to issue an official response, the company told National Business Daily that the short report “contains multiple flaws that are inaccurate, and the company will publish a clarification statement as soon as possible.”
To read Endpoints News become a free subscriber
Unlock this article instantly, along with access to limited free monthly articles and our suite of newsletters