BUZZ-Legend Biotech up as Q2 sales for J&J-partnered blood cancer therapy rises

Reuters
07-16
BUZZ-Legend Biotech up as <a href="https://laohu8.com/S/QTWO">Q2</a> sales for J&J-partnered blood cancer therapy rises 

** Shares of cancer therapy maker Legend Biotech LEGN.O rise 4.2% to $41.25 premarket

** Partner Johnson & Johnson JNJ.N reports Q2 sales of blood cancer cell therapy Carvykti of $439 mln vs consensus estimates of $419 mln

** JNJ says Carvykti increase is driven by continued share gains and capacity expansion

** "We look to continued growth in 2H25, and expect revenue to accelerate given a typically strong back half, especially with additional production likely to come online,"- brokerage RBC Capital Markets

** We like that Carvykti continues to grow at ~19% quarter over quarter, suggesting there is still untapped demand in the myeloma market, which can enable further growth in 2H25 and 2026, brokerage says

** Up to last close, LEGN up 21.7% YTD

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com))

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