SmartCentres Real Estate Investment Trust Announces Voting Results from Annual Meeting of Holders of Units and Special Voting Units
TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- SmartCentres Real Estate Investment Trust ('SmartCentres' or the 'Trust') (TSX:SRU.UN) announced today the voting results from its Annual General Meeting of the holders of Units and Special Voting Units (the 'Meeting') held today.
The total number of Units and Special Voting Units of SmartCentres ('Units' and 'SVUs', respectively) represented by holders of Units and SVUs (collectively, 'Unitholders') that voted in connection with the Meeting was 63,447,954 Units and 42,327,173 SVUs, representing in total 56.56% of SmartCentres' issued and outstanding Units and SVUs. At the Meeting, Unitholders voted in favour of all items of business, including fixing the number of trustees to be elected or appointed at the Meeting and the election of each of the six trustee nominees proposed by management. The voting results for the election of trustees based on the Units and SVUs represented at the Meeting were as follows:
# Votes For
% Votes For
# Votes Withheld
% Votes Withheld
Janet Bannister
104,343,846
99.05%
1,005,213
0.95%
Neil Cunningham
104,436,343
99.13%
912,715
0.87%
Garry Foster
103,669,402
98.41%
1,679,658
1.59%
Sylvie Lachance
104,533,859
99.23%
815,202
0.77%
Sharm Powell
103,060,730
97.83%
2,288,328
2.17%
Michael Young
103,103,254
97.87%
2,245,706
2.13%
At the Meeting, PricewaterhouseCoopers LLP was appointed as the auditor of SmartCentres. Also, 98.08% of Unitholders voted in favour of accepting SmartCentres' approach to executive compensation (i.e. say-on-pay), as more particularly set forth in SmartCentres' Management Information Circular dated April 1, 2025.
Detailed voting results for the Meeting are available under SmartCentres' profile on SEDAR+ at www.sedarplus.ca.
About SmartCentres
SmartCentres is one of Canada's largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 196 strategically located properties in communities across the country. SmartCentres has approximately $11.9 billion in assets and owns 35.4 million square feet of income producing value-oriented retail and first-class office properties with 98.4% in place and committed occupancy, on 3,500 acres of owned land across Canada.
For more information, please visit www.smartcentres.com or contact:
Mitchell GoldharExecutive Chairman and Chief Executive Officer(905) 326-6400 ext. 7674mgoldhar@smartcentres.com
Peter SlanChief Financial Officer(905) 326-6400 ext. 7571pslan@smartcentres.com
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Walker Lane Resources Ltd. Receives TSX Approval for the Acquisition of Three Mineral Properties in the Walker Lane Gold Trend in Nevada from Silver Range Resources Ltd. and Auburn Gold
VANCOUVER, British Columbia, June 09, 2025 (GLOBE NEWSWIRE) -- Walker Lane Resources Ltd. (TSX-V: WLR, 'Walker Lane') announces that it has received approval from the TSX Venture Exchange on its option agreements on three mineral properties (i.e., Tule Canyon, Cambridge and Silver Mountain – see location map Figure 1) located in the prolific Walker Lane Gold Trend of western Nevada. The original property agreements in the form of letters of intent ('LOI'), were signed with CMC Metals Ltd. now operating as Walker Lane Resources Ltd. and trading under the symbol 'WLR' on the TSX Venture Exchange. The LOI's were restated on May 12, 2025 by WLR, Silver Range Resources and in the instance of the Cambridge Property LOI also including Auburn Mining and supersede the previous agreements of March 8, 2025 for Tule canyon LOI and March 10, 2025 for the Cambridge and Silver Mountain LOI's. The parties intend for the May 12, 2025 Restated Letters of Intent to be replaced by Definitive Agreements formalizing the option arrangements on or before June 30, 2025, with the effective date of such Definitive Agreements being the date of the respective Tule Canyon Property consists of sixty (60) federal lode mining claims, located in Esmeralda County, Nevada, United States of America. Tule Canyon is a mesothermal high- grade gold and silver target with two former mines and numerous showings and old workings along a 5km structural corridor. Silver Range and WLR have executed a Letter of Intent ('LOI') granting WLR the option to acquire 100% of the Tule Canyon Property ('Tule Canyon'). WLR has a first option to acquire 80% of Tule Canyon by paying Silver Range an aggregate $480,000 over four years (all amounts in United States currency) and completing 1,500 meters of diamond drilling by March 8, 2028. A second option to acquire the remaining 20% of Tule Canyon may be exercised by WLR identifying a National Instrument 43-101 compliant measured or indicated resource at Tule Canyon (the 'Tule Resource') by the end of 2033. The specific terms of the transaction are as follows: Subject to the Royalty (as defined below), Silver Range hereby grants Walker Lane an irrevocable option to acquire an eighty percent (80%) interest in the Tule Canyon Property (the 'Option') to be exercisable by Walker Lane through periodic payments of $480,000 in the aggregate, as set out below: First Option Cash Securities, Exploration, and/ or Other Work Commitments Signing of the LOI $20,000 Signing of the Definitive Agreement $20,000 Year 1 anniversary $40,000 Year 2 anniversary $75,000 (1) Year 3 anniversary $100,000 (1) Completing not less than an aggregate 1,500 metres of diamond drilling on the Tule Canyon Property on or before the 3rd anniversary. Year 4 anniversary $225,000 (1) (1) Up to half of the cash payments may be satisfied through the issuance of common shares of Walker Lane and the price shall be issued at the greater of: (i) $0.21; (ii) the volume weighted average trading price of the Walker Lane shares for the twenty trading days immediately prior to the earlier of the date of which any such shares are issued to Silver Range; (iii) if the price of the Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of a cash payment. For greater certainty, if the price of Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of cash payment; (iv) Notwithstanding the aforementioned sections hereof, Walker Lane shall not be entitled to issue Walker Lane shares to Silver Range as partial payment where the issuance of such shares will result in Silver Range holding an aggregate of greater than 19.9% of the issued share capital of Walker Lane as a result of such share issuance; and, (v) The balance of any payment owing to Silver Range shall be made in cash where the provisions of Section (v) become operative. (2) the anniversary date to be applied is May 12 of each applicable year. The cash payment of $20,000 due at signing of the LOI has been issued to Walker Lane Resources Ltd. Second Option (i) Upon the exercise of the First Option, Silver Range, shall grant to Walker Lane an irrevocable option to obtain an additional twenty percent (20%) interest in the Tule Canyon Property (the 'Second Option'). In order to exercise the Second Option, Walker Lane shall be required to complete a National Instrument 43-101 compliant report identifying a measured or indicated resource on the Tule Canyon Property (the 'Resource Report') at any time on or before December 31, 2033.(ii) For greater certainty, the measured or indicated resource as contained in the Resource Report shall be calculated in accordance with the definitions for mineral resources, mineral reserves, and mining studies used by the Canadian Institute of Mining, Metallurgy and Petroleum. Royalty and Buy-Back Option (i) At the time the Second Option is exercised, Silver Range shall be deemed to have retained a two and one-half percent (2.5%) net smelter return royalty interest in any and all future proceeds from commercial production of all commodities from the Tule Canyon Property (the 'Royalty'). (ii) At any time after the exercise of the Second Option and prior to the commencement of commercial production from any mine on the Tule Canyon Property, Walker Lane shall have the irrevocable right to purchase up to sixty percent (60%) of the Royalty. Walker Lane shall have the right to purchase up to sixty percent (60%) in a single transaction or in a number of transactions of not less than twenty percent (20%) of the Royalty in each transaction. (iii) The purchase price to be paid to Silver Range for the purchase of each twenty percent (20%) interest in the Royalty pursuant to paragraph (ii) above shall be $500,000. For greater certainty, sixty percent (60%) of the Royalty as set out in paragraph (ii), represents a one and one-half percent (1.5%) interest in net smelter returns from commercial production on the Tule Canyon Property and will have an aggregate purchase price of $1,500,000. Milestone Payment (i) In addition to the Royalty, Silver Range shall be entitled to a one-time cash payment of $10.00 per ounce of gold (or the equivalent value in other metals and minerals) contained in any measured or indicated mineral resource identified on the Tule Canyon Property as contained in the Resource Report (the 'Milestone Payment'). (ii) The Milestone Payment shall be paid to Silver Range within six months of the completion date of the Resource Cambridge Property is comprised of an aggregate 51 federal lode claims, consisting of three adjoining blocks of mining claims, all located in Lyon County, Nevada, United States of America. The three claim blocks comprising the property are: (i) the Cambridge claims; (ii) the JC claims; and (iii) the Enigma claims. Silver Range, Auburn Gold Mining LLC ('Auburn') and WLR have executed a LOI granting WLR the option to acquire 100% of the Cambridge Property ('Cambridge'). WLR has a first option to acquire 75% of Cambridge for total consideration of $460,000 over four years, incurring $1,500,000 in exploration expenditures and completing 1,500 meters of diamond drilling on the property. A second option to acquire the remaining 25% of the property can be exercised by WLR making an additional aggregate $75,000 to Silver Range and Auburn and by identifying a National Instrument 43-101 compliant measured or indicated resource at Cambridge (the 'Cambridge Resource') by the end of 2033. The specific terms of the transaction are as follows:Cash Securities (on the basis of 50% - Silver Range 50% - Auburn Exploration) and/or Other Work Commitments Upon TSX Venture Exchange approval of the LOI $10,000* to both Silver Range and Auburn; Signing of the Definitive Agreement $10,000 to both Silver Range and Auburn; Year 1 anniversary $10,000 payment to both Silver Range and Auburn Year 2 anniversary $40,000 (1) payment to both Silver Range and Auburn Year 3 anniversary $50,000 (1) to both Silver Range and Auburn Year 4 anniversary $110,000 (1) to both Silver Range and Auburn Incurring an aggregate of $1,500,000 in exploration expenditures on the Cambridge Property, including the completion of not less than an aggregate 1,500 metres of diamond drilling on the Property.(1) One-half of the cash payments may be satisfied through the issuance of Walker Lane shares to Silver Range and Auburn. The price of which any Walker Lane shares issued to Silver Range and Auburn shall be issued at the greater of:(i) $0.21;(ii) the volume weighted average trading price of the Walker Lane shares for the twenty trading days immediately prior to the earlier of the date of which any such shares are issued to Silver Range and Auburn;(iii) if the price of the Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range and Auburn, the full amount of such payment shall be satisfied by way of a cash payment. For greater certainty, if the price of Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of cash payment;(iv) Notwithstanding the aforementioned sections hereof, Walker Lane shall not be entitled to issue Walker Lane shares to Silver Range as partial payment where the issuance of such shares will result in Silver Range holding an aggregate of greater than 19.9% of the issued share capital of Walker Lane as a result of such share issuance; and,(v) The balance of any payment owing to Silver Range shall be made in cash where the provisions of Section (v) become operative.(2) the anniversary date to be applied is May 12 of each applicable year. The cash payments of $10,000 to Silver Range Resources and Auburn Mining due at approval of the LOI by the TSX Venture Exchange are now being Option Upon the exercise of the First Option, Silver Range and Auburn shall grant to Walker Lane an irrevocable option, but not an obligation, to acquire an additional twenty-five percent (25%) interest in the Cambridge Property (the 'Second Option'), to be exercisable by Walker Lane as follows: (i) Completing a National Instrument 43-101 compliant report identifying a measured or indicated resource on the Cambridge Property (the 'Resource Report') at any time on or before December 31, 2033; (ii) Paying each of Silver Range and Auburn $75,000 within ten (10) days of the completion of the Resource Report; and (iii) The measured or indicated resource as contained in the Resource Report shall be calculated in accordance with the definitions for mineral resources, mineral reserves, and mining studies used by the Canadian Institute of Mining, Metallurgy and Petroleum.(i) At the time the Second Option is exercised, Silver Range shall be deemed to have retained a one and one-half percent (1.5%) net smelter return royalty interest in any and all future proceeds from commercial production from the Cambridge Property (the 'Silver Range Royalty'). (ii) At the time the Second Option is exercised, Auburn shall be deemed to have retained a one percent (1.0%) net smelter return royalty interest in any and all future proceeds from commercial production from the Cambridge Property (the 'Auburn Royalty'). (iii) At any time prior to the commencement of commercial production from a mine on the Cambridge Property, Walker Lane shall have the irrevocable right to purchase up to two-thirds (66.67%) of the Silver Range Royalty. For greater certainty, two-thirds (66.67%) of the Silver Range Royalty represents a one percent (1.0%) interest in net smelter returns from commercial production on the Cambridge Property. (iv) At any time prior to the commencement of commercial production from a mine on the Cambridge Property, Walker Lane shall have the irrevocable right to purchase up to one-half (50%) of the Auburn Royalty. For greater certainty, one-half (50%) of the Auburn Royalty represents a one-half percent (0.5%) interest in net smelter returns from commercial production on the Property. (v) The purchase price to be paid as follows: a. To Silver Range for the purchase of two-thirds interest in the Silver Range Royalty pursuant to paragraph (iii) above shall be $750,000; and b. To Auburn for the purchase of one-half interest in the Auburn Royalty shall be $500,000. (vi) Section (iii) and (iv) royalty purchase rights must be fully exercised by Walker Lane and may not be exercised individually or in part without the prior written agreement of all parties to the Cambridge Property LOI. (i) In addition to the Silver Range Royalty, Silver Range shall be entitled to a one-time cash payment of $6.00 per ounce of gold (or the equivalent value in other metals and minerals) contained in any measured or indicated mineral resource identified on the Cambridge Property as contained in the Resource Report (the 'Silver Range Milestone Payment'), up to a maximum of $300,000. (ii) In addition to the Auburn Royalty, Auburn shall be entitled to a one-time cash payment of $4.00 per ounce of gold (or the equivalent value in other metals and minerals) contained in any measured or indicated mineral resource identified on the Cambridge Property as contained in the Resource Report (the 'Silver Range Milestone Payment'), up to a maximum of $200, Silver Mountain Property consists of eight (8) federal lode mining claims, located in Esmeralda County, Nevada, United States of America within the Walker Lane Gold Trend Area. Silver Range and CMC have executed a LOI granting WLR the option to acquire 100% of the Silver Mountain Property ('Silver Mountain') for total consideration of $200,000, payable in installments of $5,000 per year until 2034 with a final payment of $150,000 by August 1, 2035. Up to half of the final payment may be made in WLR shares. In addition, WLR would be required to complete 1,000 meters of drilling during the term of the option. The specific terms of the transaction are as follows: Subject to the Royalty and Milestone Payment (as each is defined below), Silver Range hereby grants Walker Lane an irrevocable option to acquire one hundred percent (100%) interest in the Silver Mountain Property (the 'Option') to be exercisable by Walker Lane through the payment of any aggregate $200,000, as set out below: First Option Cash Securities, Exploration and/or Other Work Commitments On or before August 1, 2025 a payment of $5,000 On or before August 1 of each of the calendar years 2026 through 2034, a payment of $5,000 On or before August 1, 2035 $150,000 (1) Completing not less than an aggregate 1,000 metres of diamond drilling on the Silver Mountain Property on or before August 1, 2035. Walker Lane may accelerate the exercise of the Option by making all of the payments and completing the drilling requirement set out above under the Option, at any time prior to August 1, 2035. (1) Up to one-half (50%) of the cash payment may be satisfied through the issuance of common shares of Walker Lane. The price at which the Walker Lane shares shall be issued shall be the greater of: (i) $0.21; (ii) the volume weighted average trading price of the Walker Lane shares for the twenty trading days immediately prior to date on which any such shares are issued to Silver Range; (iii) if the price of Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of a cash payment. For greater certainty, if the price of Walker Lane shares is less than $0.21 at the time the payment is due and owing to Silver Range, the full amount of such payment shall be satisfied by way of cash payment. (iv) Notwithstanding the aforementioned sections hereof, Walker Lane shall not be to issue Walker Lane shares to Silver Range as partial payment where the issuance of such shares will result in Silver Range holding an aggregate of greater than 19.9% of the issued share capital of Walker Lane as a result of such share issuance. (v) The balance of any payment owing to Silver Range shall be made in cash where the provisions of Section (v) become operative. Royalty and Buy-Back Option (i) At the time the Option is exercised, Silver Range shall be deemed to have retained a two and one-half percent (2.5%) net smelter return royalty interest in any and all future proceeds from commercial production of all commodities from the Silver Mountain Property (the 'Royalty'). (ii) At any time after the exercise of the Option and prior to the commencement of commercial production from any mine on the Silver Mountain Property, Walker Lane shall have the irrevocable right to purchase up to sixty percent (60%) of the Royalty. Walker Lane shall have the right to purchase up to sixty percent (60%) in a single transaction or in a number of transactions of not less than twenty percent (20%) of the Royalty in each transaction. (iii) The purchase price to be paid to Silver Range for the purchase of each twenty percent (20%) interest in the Royalty pursuant to paragraph (ii) above shall be $500,000. For greater certainty, sixty percent (60%) of the royalty as set out in paragraph (ii), represents a one and one-half percent (1.5%) interest in net smelter returns from commercial production on the Silver Mountain Property and will have an aggregate purchase price of $1,500,000. Milestone Payment (i) In addition to the Royalty, Silver Range shall be entitled to a one-time cash payment of $10.00 per ounce of gold (or the equivalent value in other metals and minerals) contained in National Instrument 43-101 compliant report identifying a measured or indicated resource on the Silver Mountain Property (the 'Resources Report') at any time on or before or after the option has been exercise (the 'Milestone Payment'); and,(ii) For greater certainty, the measured or indicated resource as contained in the Resource Report shall be calculated in accordance with the definitions for mineral resources, mineral reserves, and mining studies used by the Canadian Institute of Mining, Metallurgy and Petroleum; and (iii) The Milestone Payment shall be paid to Silver Range within six months of the completion date of the Resource Report. Walker Lane Gold Trend Area Walker Lane has established a solid position in the Walker Lane Gold Trend Area which has a rich history of mining and exploration and remains vastly underexposed to modern exploration methods, offering substantial upside potential. The Walker Lane area is host to notable precious metal deposits such as the Comstock Lode, Round Mountain (Kinross), Silicon and Merlin (AngloGold Ashanti), Mesquite and Castle (Equinox Gold) and many other significant deposits. This popular and emerging district offers junior exploration companies exploration targets at manageable costs. These targets are also attractive in that they are associated with high-grade gold, silver and base metal mineralization, have nearby excellent infrastructure, considerable road accessibility, a local, qualified and competent labor force, a diverse range of supply companies, and are located within one of the best permitting and policy regimes in the world. The 2023 Fraser Institute Mining Industry Survey ranked Nevada second in the world in terms of investment attractiveness Lane Resources Ltd. has optioned three highly prospective gold and silver projects in the Walker Lane Area. Our company intends to pursue exploration of these properties in 2025 which may also include an initial drill program at Tule Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon and Newfoundland and Labrador. The Company initially intends to initiate a comprehensive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver, B.C.) projects with expectations of a multi-year exploration efforts with initial exploration success. On behalf of Walker Lane Resources Ltd.: Kevin Brewer, President, CEO and DirectorWalker Lane Resources Ltd. For Further Information and Investor Inquiries: Kevin Brewer, MBA, (Hons), Dip. Mine CEO and Director Tel: (709) 327 8013 kbrewer80@ 1600-409 Granville St., Vancouver, BC, V6C 1T2 Cautionary and Forward Looking Statements This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words 'anticipate', 'plans', 'continue', 'estimate', 'expect', 'may', 'will', 'project', 'predict', 'potential', 'should', 'believe' 'targeted', 'can', 'anticipates', 'intends', 'likely', 'should', 'could' or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon and the Bridal Veil property in Newfoundland and Labrador all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. These forward-looking statements reflect the Company's current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company's properties is reliable; the Company's operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company's properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company's current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate. Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company's public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company's control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company. The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes 'future-oriented financial information' or 'financial outlooks' within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company's actual financial position and results of operations may differ materially from management's current expectations and, as a result, the Company's revenue and expenses. The Company's financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company's accountants or auditors. The Company's financial projections represent management's estimates as of the dates indicated 1: Project Locations in Nevada A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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PensionBee Survey Reveals Nearly Half of Americans Have Less Than One Year of Retirement Savings
New data reveals alarming saving gaps and costly behavioral patterns undermine retirement security across all generations NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- Nearly one in three Americans (30%) couldn't survive more than six months on their retirement savings if they had to stop working tomorrow, while 42% have less than one year of savings total, according to new data from PensionBee's Q2 Happy Retirement Report. Just one in ten Americans believes they can live off their savings for 10 years or more. These findings reveal more than a retirement problem—they expose a survival crisis hiding in plain sight. With traditional pensions declining and Social Security facing potential cuts, Americans across all generations are more dependent on personal savings than ever before. Yet most are lacking basic financial resilience. 'Low saving levels among older workers are particularly troubling,' said Romi Savova, CEO of PensionBee. 'In an economy where companies are cutting costs and older workers often face the longest unemployment periods, inadequate savings isn't just about retirement, it's about basic survival. Too many people are one layoff away from being forced into a retirement they can't afford. With AI poised to reshape entire industries, this financial vulnerability becomes an existential threat for millions of American families." The Actions Behind the Numbers But here's what separates financial confidence from financial fantasy: specific, measurable actions. The survey reveals that confidence isn't built on hope—it's built on behavior. Among respondents who feel "very positive" about retirement, 61% have structured retirement plans, half with professional guidance, and 25% have consolidated multiple accounts. In stark contrast, just 9% of Americans who feel "very negative" about retirement have any structured retirement planning in place. Americans who felt 'very negative' about their retirement were also twice as likely (41%) to have delayed saving until age 30, compared to just 20% of those who reported a 'very positive' outlook. The data reveals the specific actions that separate confident savers from worried ones: starting early, maximizing employer benefits, consolidating old retirement accounts, and, when it makes sense, working with financial advisors. These aren't just nice-to-haves—they're the foundation of financial security in an uncertain economy. Retirement Preparedness Across Generations Gen Z: Building Financial Foundation Despite Early Challenges At 43%, Gen Z reports the second-highest retirement optimism, yet their behavior suggests financial vulnerability. Nearly one in five (19%) have already taken hardship withdrawals from retirement accounts—a concerning trend for a generation just starting their careers. However, they're also the most proactive: 25% plan to seek financial advice this year, and 29% are embracing online planning tools. Their challenge isn't awareness—it's building financial resilience while navigating an increasingly expensive economy. Millennials: Navigating Multiple Financial Priorities Millennials show clear signs of economic pressure from competing priorities. They report the lowest retirement confidence (41%) and are most likely to be managing student debt, aging parents, and childcare. Nearly one in four (22%) cash out their 401(k)s when changing jobs, compared to just 14% of Baby Boomers. Having entered the job market during the Great Recession, many developed financial habits that prioritize immediate needs over long-term wealth building. At 29%, they're most likely to delay starting retirement savings, missing crucial years of compound growth. Gen X: Managing Time Constraints and Competing Demands Gen X faces significant time pressure: 36% have less than one year of savings with fewer than 10 years until retirement age. Supporting both aging parents and college-bound children, they're working to build adequate retirement funds within a compressed timeframe. Further, only 23% consistently contribute enough to receive full employer matching funds, representing missed opportunities that could meaningfully improve their retirement outlook. Baby Boomers: Confident Outlook with Limited Savings Baby Boomers report the highest optimism (51%), though this confidence may not fully align with current retirement trends showing later retirement ages and continued reliance on part-time work. Despite being around retirement age, nearly half (49%) of Baby Boomers reported having five years or less of savings. This generation's optimism reflects a different economic era—one with pensions, affordable healthcare, and more predictable career paths. What Comes Next Despite these challenges, the survey reveals reason for optimism: half of Americans plan to increase contributions this year, suggesting growing awareness of the problem. 41% of Americans reported a positive retirement outlook in Q2—down over 10% from Q1's survey. This declining confidence seems to reflect not only the market volatility but perhaps a growing awareness that individual effort alone cannot solve a systemic problem. "The widespread lack of retirement preparedness we're seeing isn't something workers can solve alone," added Savova. "Employers have a critical role beyond just offering a 401(k). When workers are cashing out accounts during job changes and missing employer matches, that's a clear signal that current benefit structures aren't working. We need to reform our system and take active steps: automatic enrollment, better education, and support systems that help departing employees preserve their savings rather than lose them.' About PensionBee PensionBee is a leading online retirement provider, helping people easily consolidate, manage, and grow their retirement savings. The company manages approximately $8 billion in assets and serves over 275,000 customers globally, with a focus on simplicity, transparency, and accessibility. Survey Methodology* Participation Details: The survey data was gathered and sent out by Attest between May 9, 2025 and May 13, 2025 to a total of 1,000 Americans across the 18 - 100 age groups. Voluntary Participation: Participation in the survey was voluntary. Respondents were free to decline participation or skip any questions they chose not to answer. Your investment can go down as well as up. This survey is provided solely for informational and educational purposes and should not be relied upon as sole decision-making tools. Nothing presented here constitutes tax, legal, financial or investment advice. This information does not take into account the specific financial, legal or tax situation, objectives, risk tolerance, or investment needs of any individual investor. All information provided is based on publicly available data and research at the time of posting. This information, and any associated customer testimonial or third party endorsement, does not constitute an offer, solicitation, or recommendation to buy or sell any securities or investments. Your investment is at risk. Past performance is no guarantee of future results. Media Contact: Adela McVicarSR PR PensionBee Inc. is registered with the Securities and Exchange Commission as an investment adviser. We do not provide in-person advice. 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Legend Biotech Unveils Groundbreaking 5-Year Survival Data for CARVYKTI® in Multiple Myeloma at 2025 ASCO Annual Meeting
Oral presentation of CARTITUDE-1 study data showcases long-term outcomes after a single infusion of CARVYKTI® with one-third of patients with relapsed/refractory multiple myeloma progression-free for ≥5 years CARTITUDE-4 subgroup analyses featured in a poster presentation highlight consistent, durable progression-free and overall survival benefit vs. standard therapies across cytogenetic risk groups as early as second-line therapy Promising early results from ongoing Phase 1 dose-escalation studies of LB1908 in gastroesophageal cancers and LB2102 in lung cancers underscore potential of next-generation cell therapies SOMERSET, N.J., June 03, 2025 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, announced today new long-term results from the CARTITUDE-1 study in heavily pretreated relapsed/refractory multiple myeloma (RRMM) patients. RRMM patients were treated with a single infusion of CARVYKTI® (ciltacabtagene autoleucel; cilta-cel) with no maintenance or subsequent myeloma therapy. Notably, an unprecedented 33% (32 of 97) of patients remained progression-free for five years or more. These data were featured in an oral presentation at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting (Abstract #7505). To date, more than 6,500 patients have been treated with CARVYKTI®, the first and only CAR T-cell treatment in multiple myeloma to show overall survival benefit vs. standard of care. In a subset of 12 patients from a single center from this analysis who underwent serial minimal residual disease (MRD) assessments, all 12 patients remained progression-free ≥5 years, were MRD-negative and showed no disease on annual PET/CT scans for five years. 'The durability and consistency we're seeing with CARVYKTI in the CARTITUDE-1 study is truly remarkable,' said Sundar Jagannath, M.D., Network Director, Multiple Myeloma Center of Excellence for Multiple Myeloma at The Tisch Cancer Institute, Icahn School of Medicine at Mount Sinai, New York. 'These data offer real hope for long-term disease control in a population that previously had limited options.' ‡ At median follow-up of 61.3 months in CARTITUDE-1 (n=97), patients treated with CARVYKTI® demonstrated a median OS of 60.7 months (95% CI, 41.9–NE). Thirty-two patients (33%) remained progression-free for ≥5 years after a single CARVYKTI® infusion, with no further multiple myeloma treatment. These patients had a median age of 60 years (range, 43-78), received a median of 6.5 prior lines of therapy (range, 3-14), and included patients with high-risk cytogenetics (23.3%), with extramedullary disease (EMD) (12.5%), triple-class refractory disease (90.6%), and penta-drug refractory disease (46.9%). Prior to enrollment, their median time to progression following the last line of therapy was four months. Safety signals were consistent with the known benefit/risk safety profile of CARVYKTI®. No new movement or neurocognitive treatment-emergent adverse events (MNTs)/parkinsonism were reported. Two new cases of second primary malignancies were reported, both solid tumors. These data were also simultaneously published in the Journal of Clinical Oncology. 'This five-year survival data highlights the potential of CARVYKTI to fundamentally change treatment expectations for patients with relapsed or refractory multiple myeloma,' said Mythili Koneru, M.D., Ph.D., Chief Medical Officer of Legend Biotech. 'For one-third of these heavily pre-treated patients to remain progression-free for five years after a single infusion—and without needing further myeloma therapy—represents a potential paradigm shift in how we treat relapsed or refractory multiple myeloma.' In addition to the long-term survival data, the following updates were provided during poster presentations: CARTITUDE-4: Data from intent-to-treat high-risk subgroups show CARVYKTI® improved progression-free survival (PFS) and overall survival (OS) versus standard therapy (Abstract #7539) CARTITUDE-4 is a Phase 3 study evaluating CARVYKTI® versus two standard of care (SOC) therapies of pomalidomide, bortezomib, and dexamethasone (PVd) or daratumumab, pomalidomide, dexamethasone (DPd) in patients with relapsed, lenalidomide-refractory multiple myeloma after one to three prior lines of therapy, including a proteasome inhibitor (PI) and an immunomodulatory agent (IMiD). At median follow-up of 33.6 months, CARVYKTI® demonstrated consistent and durable benefit in PFS and OS compared with SOC across high-risk subgroups, including cytogenetic risk groups, EMD status, and number of prior lines of therapy. In patients with EMD (CARVYKTI®, n=21; standard therapies, n=18): Median PFS was 13 months with CARVYKTI® versus 4 months with standard therapies (HR, 0.71 [95% CI, 0.34–1.49]) Median OS was not reached (NR) with CARVYKTI® versus 16 months with standard therapies (HR, 0.61 [95% CI, 0.26–1.47]) By 1, 2, or 3 prior lines of therapy (pLOT) (CARVYKTI®, n=68, 83, 57; standard therapies, n=68, 87, 56): In patients with one pLOT: Median PFS was NR with CARVYKTI® versus 17 months with standard therapies (HR, 0.41 [95% CI, 0.25–0.67]) Median OS was NR with CARVYKTI® versus NR with standard therapies (HR, 0.56 [95% CI, 0.28–1.11]) In patients with two pLOT: Median PFS was NR with CARVYKTI® versus 12 months with standard therapies (HR, 0.30 [95% CI, 0.19–0.49]) Median OS was NR with CARVYKTI® versus NR with standard therapies (HR, 0.63 [95% CI, 0.36–1.09]) In patients with three pLOT: Median PFS was NR with CARVYKTI® versus 8 months with standard therapies (HR, 0.20 [95% CI, 0.11–0.34]) Median OS was NR with CARVYKTI® versus 34 months with standard therapies (HR, 0.49 [95% CI, 0.26–0.91]) These data further support a favorable benefit-risk profile for CARVYKTI® as early as after first relapse for multiple myeloma patients who are lenalidomide-refractory and have a poor prognosis. Solid Tumor Pipeline LB1908: Preliminary results of a Phase 1 study of a CLDN18.2-targeted CAR T-cell therapy show manageable safety and antitumor activity in patients with gastroesophageal cancers (Abstract #4022) Interim data from a Phase 1, first-in-human, open-label, multicenter study of LB1908, an autologous CAR-T targeting Claudin 18.2, were presented in patients with advanced gastric, gastroesophageal, and esophageal adenocarcinoma (GC/GEJC/EC) who are relapsed or refractory to one or more prior line of therapy and whose tumors express CLDN18.2 in 50% or more tumor cells. LB1908 demonstrated peripheral expansion and early signs of antitumor activity at the lowest dose tested, with a manageable safety profile. A toxicity mitigation strategy was implemented to address on-target gastric mucosal injury, which successfully reduced toxicity without compromising CAR-T expansion or antitumor activity. Additional data, including longer follow-up and outcomes from patients treated at higher dose levels, were also presented. LB2102: Preliminary results of a Phase 1 study of a DLL3-targeted CAR-T cell therapy demonstrate promising safety and tolerability in patients with lung cancers (Abstract #8104) Interim data from a Phase 1, open-label, multicenter study of LB2102, a DLL3-targeted autologous CAR-T cell therapy armored with dnTGFßRII, were presented in patients with relapsed or refractory small-cell lung cancer (SCLC) and large cell neuroendocrine carcinoma (LCNEC) who have received at least one prior line of therapy. LB2102 was well tolerated, with no dose-limiting toxicities (DLTs) observed through Dose Level 4 (4 x 10⁶ CAR+ T cells/kg). Encouraging signs of dose-dependent efficacy have been observed at higher dose levels, with clinical responses appearing to correlate with CAR-T cell expansion. These preliminary findings support continued dose escalation and further clinical evaluation. In November 2023, Legend Biotech entered an exclusive, global license agreement with Novartis Pharma AG for certain of our CAR-T cell therapies targeting DLL3, including LB2102. Under the license agreement, Legend Biotech is responsible for conducting the Phase 1 clinical trial for LB2102 in the U.S. Novartis is responsible for conducting all other development for licensed products. 'We are proud of the peer recognition for the breadth and depth of our new data in hematologic and solid tumor cancers,' said Ying Huang, Ph.D., Chief Executive Officer of Legend Biotech. "Legend is working to leverage cutting-edge cell therapy modalities to create paradigm-shifting treatments and potential cures for cancer patients." CARVYKTI® IMPORTANT SAFETY INFORMATION WARNING: CYTOKINE RELEASE SYNDROME, NEUROLOGIC TOXICITIES, HLH/MAS, PROLONGED and RECURRENT CYTOPENIA, and SECONDARY HEMATOLOGICAL MALIGNANCIES Cytokine Release Syndrome (CRS), including fatal or life-threatening reactions, occurred in patients following treatment with CARVYKTI ®. Do not administer CARVYKTI ® to patients with active infection or inflammatory disorders. Treat severe or life-threatening CRS with tocilizumab or tocilizumab and Effector Cell-Associated Neurotoxicity Syndrome (ICANS), which may be fatal or life-threatening, occurred following treatment with CARVYKTI ®, including before CRS onset, concurrently with CRS, after CRS resolution, or in the absence of CRS. Monitor for neurologic events after treatment with CARVYKTI ®. Provide supportive care and/or corticosteroids as and Guillain-Barré syndrome (GBS) and their associated complications resulting in fatal or life-threatening reactions have occurred following treatment with CARVYKTI ®.Hemophagocytic Lymphohistiocytosis/Macrophage Activation Syndrome (HLH/MAS), including fatal and life-threatening reactions, occurred in patients following treatment with CARVYKTI ®. HLH/MAS can occur with CRS or neurologic and/or recurrent cytopenias with bleeding and infection and requirement for stem cell transplantation for hematopoietic recovery occurred following treatment with CARVYKTI ®.Secondary hematological malignancies, including myelodysplastic syndrome and acute myeloid leukemia, have occurred in patients following treatment with CARVYKTI ®. T-cell malignancies have occurred following treatment of hematologic malignancies with BCMA- and CD19-directed genetically modified autologous T-cell immunotherapies, including CARVYKTI ®.CARVYKTI ® is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the CARVYKTI® REMS Program. WARNINGS AND PRECAUTIONS INCREASED EARLY MORTALITY - In CARTITUDE-4, a (1:1) randomized controlled trial, there was a numerically higher percentage of early deaths in patients randomized to the CARVYKTI® treatment arm compared to the control arm. Among patients with deaths occurring within the first 10 months from randomization, a greater proportion (29/208; 14%) occurred in the CARVYKTI® arm compared to (25/211; 12%) in the control arm. Of the 29 deaths that occurred in the CARVYKTI® arm within the first 10 months of randomization, 10 deaths occurred prior to CARVYKTI® infusion, and 19 deaths occurred after CARVYKTI® infusion. Of the 10 deaths that occurred prior to CARVYKTI® infusion, all occurred due to disease progression, and none occurred due to adverse events. Of the 19 deaths that occurred after CARVYKTI® infusion, 3 occurred due to disease progression, and 16 occurred due to adverse events. The most common adverse events were due to infection (n=12). CYTOKINE RELEASE SYNDROME (CRS), including fatal or life-threatening reactions, occurred following treatment with CARVYKTI®. Among patients receiving CARVYKTI® for RRMM in the CARTITUDE-1 & 4 studies (N=285), CRS occurred in 84% (238/285), including ≥ Grade 3 CRS (ASCT 2019) in 4% (11/285) of patients. Median time to onset of CRS, any grade, was 7 days (range: 1 to 23 days). CRS resolved in 82% with a median duration of 4 days (range: 1 to 97 days). The most common manifestations of CRS in all patients combined (≥ 10%) included fever (84%), hypotension (29%) and aspartate aminotransferase increased (11%). Serious events that may be associated with CRS include pyrexia, hemophagocytic lymphohistiocytosis, respiratory failure, disseminated intravascular coagulation, capillary leak syndrome, and supraventricular and ventricular tachycardia. CRS occurred in 78% of patients in CARTITUDE-4 (3% Grade 3 to 4) and in 95% of patients in CARTITUDE-1 (4% Grade 3 to 4). Identify CRS based on clinical presentation. Evaluate for and treat other causes of fever, hypoxia, and hypotension. CRS has been reported to be associated with findings of HLH/MAS, and the physiology of the syndromes may overlap. HLH/MAS is a potentially life-threatening condition. In patients with progressive symptoms of CRS or refractory CRS despite treatment, evaluate for evidence of HLH/MAS. Please see Section 5.4; Hemophagocytic Lymphohistiocytosis (HLH)/Macrophage Activation Syndrome (MAS). Ensure that a minimum of two doses of tocilizumab are available prior to infusion of CARVYKTI®. Of the 285 patients who received CARVYKTI® in clinical trials, 53% (150/285) patients received tocilizumab; 35% (100/285) received a single dose, while 18% (50/285) received more than 1 dose of tocilizumab. Overall, 14% (39/285) of patients received at least one dose of corticosteroids for treatment of CRS. Monitor patients at least daily for 10 days following CARVYKTI® infusion at a REMS-certified healthcare facility for signs and symptoms of CRS. Monitor patients for signs or symptoms of CRS for at least 4 weeks after infusion. At the first sign of CRS, immediately institute treatment with supportive care, tocilizumab, or tocilizumab and corticosteroids. Counsel patients to seek immediate medical attention should signs or symptoms of CRS occur at any time. NEUROLOGIC TOXICITIES, which may be severe, life-threatening, or fatal, occurred following treatment with CARVYKTI®. Neurologic toxicities included ICANS, neurologic toxicity with signs and symptoms of parkinsonism, GBS, immune mediated myelitis, peripheral neuropathies, and cranial nerve palsies. Counsel patients on the signs and symptoms of these neurologic toxicities, and on the delayed nature of onset of some of these toxicities. Instruct patients to seek immediate medical attention for further assessment and management if signs or symptoms of any of these neurologic toxicities occur at any time. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies for RRMM, one or more neurologic toxicities occurred in 24% (69/285), including ≥ Grade 3 cases in 7% (19/285) of patients. Median time to onset was 10 days (range: 1 to 101) with 63/69 (91%) of cases developing by 30 days. Neurologic toxicities resolved in 72% (50/69) of patients with a median duration to resolution of 23 days (range: 1 to 544). Of patients developing neurotoxicity, 96% (66/69) also developed CRS. Subtypes of neurologic toxicities included ICANS in 13%, peripheral neuropathy in 7%, cranial nerve palsy in 7%, parkinsonism in 3%, and immune mediated myelitis in 0.4% of the patients. Immune Effector Cell-Associated Neurotoxicity Syndrome (ICANS): Patients receiving CARVYKTI® may experience fatal or life-threatening ICANS following treatment with CARVYKTI®, including before CRS onset, concurrently with CRS, after CRS resolution, or in the absence of CRS. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, ICANS occurred in 13% (36/285), including Grade ≥3 in 2% (6/285) of the patients. Median time to onset of ICANS was 8 days (range: 1 to 28 days). ICANS resolved in 30 of 36 (83%) of patients with a median time to resolution of 3 days (range: 1 to 143 days). Median duration of ICANS was 6 days (range: 1 to 1229 days) in all patients including those with ongoing neurologic events at the time of death or data cut-off. Of patients with ICANS, 97% (35/36) had CRS. The onset of ICANS occurred during CRS in 69% of patients, before and after the onset of CRS in 14% of patients respectively. Immune Effector Cell-associated Neurotoxicity Syndrome (ICANS) occurred in 7% of patients in CARTITUDE-4 (0.5% Grade 3) and in 23% of patients in CARTITUDE-1 (3% Grade 3). The most frequent ≥2% manifestations of ICANS included encephalopathy (12%), aphasia (4%), headache (3%), motor dysfunction (3%), ataxia (2%), and sleep disorder (2%) [see Adverse Reactions (6.1)]. Monitor patients at least daily for 10 days following CARVYKTI® infusion at the REMS-certified healthcare facility for signs and symptoms of ICANS. Rule out other causes of ICANS symptoms. Monitor patients for signs or symptoms of ICANS for at least 4 weeks after infusion and treat promptly. Neurologic toxicity should be managed with supportive care and/or corticosteroids as needed [see Dosage and Administration (2.3)]. Parkinsonism: Neurologic toxicity with parkinsonism has been reported in clinical trials of CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, parkinsonism occurred in 3% (8/285), including Grade ≥ 3 in 2% (5/285) of the patients. Median time to onset of parkinsonism was 56 days (range: 14 to 914 days). Parkinsonism resolved in 1 of 8 (13%) of patients with a median time to resolution of 523 days. Median duration of parkinsonism was 243.5 days (range: 62 to 720 days) in all patients including those with ongoing neurologic events at the time of death or data cut-off. The onset of parkinsonism occurred after CRS for all patients and after ICANS for 6 patients. Parkinsonism occurred in 1% of patients in CARTITUDE-4 (no Grade 3 to 4) and in 6% of patients in CARTITUDE-1 (4% Grade 3 to 4). Manifestations of parkinsonism included movement disorders, cognitive impairment, and personality changes. Monitor patients for signs and symptoms of parkinsonism that may be delayed in onset and managed with supportive care measures. There is limited efficacy information with medications used for the treatment of Parkinson's disease for the improvement or resolution of parkinsonism symptoms following CARVYKTI® treatment. Guillain-Barré Syndrome: A fatal outcome following GBS occurred following treatment with CARVYKTI® despite treatment with intravenous immunoglobulins. Symptoms reported include those consistent with Miller-Fisher variant of GBS, encephalopathy, motor weakness, speech disturbances, and polyradiculoneuritis. Monitor for GBS. Evaluate patients presenting with peripheral neuropathy for GBS. Consider treatment of GBS with supportive care measures and in conjunction with immunoglobulins and plasma exchange, depending on severity of GBS. Immune Mediated Myelitis: Grade 3 myelitis occurred 25 days following treatment with CARVYKTI® in CARTITUDE-4 in a patient who received CARVYKTI® as subsequent therapy. Symptoms reported included hypoesthesia of the lower extremities and the lower abdomen with impaired sphincter control. Symptoms improved with the use of corticosteroids and intravenous immune globulin. Myelitis was ongoing at the time of death from other cause. Peripheral Neuropathy occurred following treatment with CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, peripheral neuropathy occurred in 7% (21/285), including Grade ≥3 in 1% (3/285) of the patients. Median time to onset of peripheral neuropathy was 57 days (range: 1 to 914 days). Peripheral neuropathy resolved in 11 of 21 (52%) of patients with a median time to resolution of 58 days (range: 1 to 215 days). Median duration of peripheral neuropathy was 149.5 days (range: 1 to 692 days) in all patients including those with ongoing neurologic events at the time of death or data cut-off. Peripheral neuropathies occurred in 7% of patients in CARTITUDE-4 (0.5% Grade 3 to 4) and in 7% of patients in CARTITUDE-1 (2% Grade 3 to 4). Monitor patients for signs and symptoms of peripheral neuropathies. Patients who experience peripheral neuropathy may also experience cranial nerve palsies or GBS. Cranial Nerve Palsies occurred following treatment with CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, cranial nerve palsies occurred in 7% (19/285), including Grade ≥3 in 1% (1/285) of the patients. Median time to onset of cranial nerve palsies was 21 days (range: 17 to 101 days). Cranial nerve palsies resolved in 17 of 19 (89%) of patients with a median time to resolution of 66 days (range: 1 to 209 days). Median duration of cranial nerve palsies was 70 days (range: 1 to 262 days) in all patients including those with ongoing neurologic events at the time of death or data cut-off. Cranial nerve palsies occurred in 9% of patients in CARTITUDE-4 (1% Grade 3 to 4) and in 3% of patients in CARTITUDE-1 (1% Grade 3 to 4). The most frequent cranial nerve affected was the 7th cranial nerve. Additionally, cranial nerves III, V, and VI have been reported to be affected. Monitor patients for signs and symptoms of cranial nerve palsies. Consider management with systemic corticosteroids, depending on the severity and progression of signs and symptoms. HEMOPHAGOCYTIC LYMPHOHISTIOCYTOSIS (HLH)/MACROPHAGE ACTIVATION SYNDROME (MAS): Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, HLH/MAS occurred in 1% (3/285) of patients. All events of HLH/MAS had onset within 99 days of receiving CARVYKTI®, with a median onset of 10 days (range: 8 to 99 days) and all occurred in the setting of ongoing or worsening CRS. The manifestations of HLH/MAS included hyperferritinemia, hypotension, hypoxia with diffuse alveolar damage, coagulopathy and hemorrhage, cytopenia, and multi-organ dysfunction, including renal dysfunction and respiratory failure. Patients who develop HLH/MAS have an increased risk of severe bleeding. Monitor hematologic parameters in patients with HLH/MAS and transfuse per institutional guidelines. Fatal cases of HLH/MAS occurred following treatment with CARVYKTI®. HLH is a life-threatening condition with a high mortality rate if not recognized and treated early. Treatment of HLH/MAS should be administered per institutional standards. CARVYKTI® REMS: Because of the risk of CRS and neurologic toxicities, CARVYKTI® is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the CARVYKTI® REMS. Further information is available at or 1-844-672-0067. PROLONGED AND RECURRENT CYTOPENIAS: Patients may exhibit prolonged and recurrent cytopenias following lymphodepleting chemotherapy and CARVYKTI® infusion. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, Grade 3 or higher cytopenias not resolved by day 30 following CARVYKTI® infusion occurred in 62% (176/285) of the patients and included thrombocytopenia 33% (94/285), neutropenia 27% (76/285), lymphopenia 24% (67/285) and anemia 2% (6/285). After Day 60 following CARVYKTI® infusion 22%, 20%, 5%, and 6% of patients had a recurrence of Grade 3 or 4 lymphopenia, neutropenia, thrombocytopenia, and anemia respectively, after initial recovery of their Grade 3 or 4 cytopenia. Seventy-seven percent (219/285) of patients had one, two, or three or more recurrences of Grade 3 or 4 cytopenias after initial recovery of Grade 3 or 4 cytopenia. Sixteen and 25 patients had Grade 3 or 4 neutropenia and thrombocytopenia, respectively, at the time of death. Monitor blood counts prior to and after CARVYKTI® infusion. Manage cytopenias with growth factors and blood product transfusion support according to local institutional guidelines. INFECTIONS: CARVYKTI® should not be administered to patients with active infection or inflammatory disorders. Severe, life-threatening, or fatal infections, occurred in patients after CARVYKTI® infusion. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, infections occurred in 57% (163/285), including ≥Grade 3 in 24% (69/285) of patients. Grade 3 or 4 infections with an unspecified pathogen occurred in 12%, viral infections in 6%, bacterial infections in 5%, and fungal infections in 1% of patients. Overall, 5% (13/285) of patients had Grade 5 infections, 2.5% of which were due to COVID-19. Patients treated with CARVYKTI® had an increased rate of fatal COVID-19 infections compared to the standard therapy arm. Monitor patients for signs and symptoms of infection before and after CARVYKTI® infusion and treat patients appropriately. Administer prophylactic, pre-emptive, and/or therapeutic antimicrobials according to the standard institutional guidelines. Febrile neutropenia was observed in 5% of patients after CARVYKTI® infusion and may be concurrent with CRS. In the event of febrile neutropenia, evaluate for infection and manage with broad-spectrum antibiotics, fluids, and other supportive care, as medically indicated. Counsel patients on the importance of prevention measures. Follow institutional guidelines for the vaccination and management of immunocompromised patients with COVID-19. Viral Reactivation: Hepatitis B virus (HBV) reactivation, in some cases resulting in fulminant hepatitis, hepatic failure, and death, can occur in patients with hypogammaglobulinemia. Perform screening for Cytomegalovirus (CMV), HBV, hepatitis C virus (HCV), human immunodeficiency virus (HIV), or any other infectious agents if clinically indicated in accordance with clinical guidelines before collection of cells for manufacturing. Consider antiviral therapy to prevent viral reactivation per local institutional guidelines/clinical practice. HYPOGAMMAGLOBULINEMIA: can occur in patients receiving treatment with CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, hypogammaglobulinemia adverse event was reported in 36% (102/285) of patients; laboratory IgG levels fell below 500mg/dl after infusion in 93% (265/285) of patients. Hypogammaglobulinemia either as an adverse reaction or laboratory IgG level below 500mg/dl, after infusion occurred in 94% (267/285) of patients treated. Fifty-six percent (161/285) of patients received intravenous immunoglobulin (IVIG) post CARVYKTI® for either an adverse reaction or prophylaxis. Monitor immunoglobulin levels after treatment with CARVYKTI® and administer IVIG for IgG <400 mg/dL. Manage per local institutional guidelines, including infection precautions and antibiotic or antiviral prophylaxis. Use of Live Vaccines: The safety of immunization with live viral vaccines during or following CARVYKTI® treatment has not been studied. Vaccination with live virus vaccines is not recommended for at least 6 weeks prior to the start of lymphodepleting chemotherapy, during CARVYKTI® treatment, and until immune recovery following treatment with CARVYKTI®. HYPERSENSITIVITY REACTIONS occurred following treatment with CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, hypersensitivity reactions occurred in 5% (13/285), all of which were ≤ Grade 2. Manifestations of hypersensitivity reactions included flushing, chest discomfort, tachycardia, wheezing, tremor, burning sensation, non-cardiac chest pain, and pyrexia. Serious hypersensitivity reactions, including anaphylaxis, may be due to the dimethyl sulfoxide (DMSO) in CARVYKTI®. Patients should be carefully monitored for 2 hours after infusion for signs and symptoms of severe reaction. Treat promptly and manage patients appropriately according to the severity of the hypersensitivity reaction. SECONDARY MALIGNANCIES: Patients treated with CARVYKTI® may develop secondary malignancies. Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies, myeloid neoplasms occurred in 5% (13/285) of patients (9 cases of myelodysplastic syndrome, 3 cases of acute myeloid leukemia, and 1 case of myelodysplastic syndrome followed by acute myeloid leukemia). The median time to onset of myeloid neoplasms was 447 days (range: 56 to 870 days) after treatment with CARVYKTI®. Ten of these 13 patients died following the development of myeloid neoplasms; 2 of the 13 cases of myeloid neoplasm occurred after initiation of subsequent antimyeloma therapy. Cases of myelodysplastic syndrome and acute myeloid leukemia have also been reported in the post-marketing setting. T-cell malignancies have occurred following treatment of hematologic malignancies with BCMA- and CD19-directed genetically modified autologous T-cell immunotherapies, including CARVYKTI®. Mature T-cell malignancies, including CAR-positive tumors, may present as soon as weeks following infusions and may include fatal outcomes. Monitor life-long for secondary malignancies. In the event that a secondary malignancy occurs, contact Janssen Biotech, Inc. at 1-800-526-7736 for reporting and to obtain instructions on collection of patient samples. EFFECTS ON ABILITY TO DRIVE AND USE MACHINES: Due to the potential for neurologic events, including altered mental status, seizures, neurocognitive decline, or neuropathy, patients receiving CARVYKTI® are at risk for altered or decreased consciousness or coordination in the 8 weeks following CARVYKTI® infusion. Advise patients to refrain from driving and engaging in hazardous occupations or activities, such as operating heavy or potentially dangerous machinery during this initial period, and in the event of new onset of any neurologic REACTIONS The most common nonlaboratory adverse reactions (incidence greater than 20%) are pyrexia, cytokine release syndrome, hypogammaglobulinemia, hypotension, musculoskeletal pain, fatigue, infections-pathogen unspecified, cough, chills, diarrhea, nausea, encephalopathy, decreased appetite, upper respiratory tract infection, headache, tachycardia, dizziness, dyspnea, edema, viral infections, coagulopathy, constipation, and vomiting. The most common Grade 3 or 4 laboratory adverse reactions (incidence greater than or equal to 50%) include lymphopenia, neutropenia, white blood cell decreased, thrombocytopenia, and anemia. Please read full Prescribing Information, including Boxed Warning, for CARVYKTI®. ABOUT CARVYKTI® (CILTACABTAGENE AUTOLEUCEL; CILTA-CEL) Ciltacabtagene autoleucel is a BCMA-directed, genetically modified autologous T-cell immunotherapy, which involves reprogramming a patient's own T-cells with a transgene encoding a chimeric antigen receptor (CAR) that identifies and eliminates cells that express BCMA. The cilta-cel CAR protein features two BCMA-targeting single domain antibodies designed to confer high avidity against human BCMA. Upon binding to BCMA-expressing cells, the CAR promotes T-cell activation, expansion, and elimination of target cells.1 In December 2017, Legend Biotech entered into an exclusive worldwide license and collaboration agreement with Janssen Biotech, Inc. (Janssen), a Johnson & Johnson company, to develop and commercialize cilta-cel. In February 2022, cilta-cel was approved by the U.S. Food and Drug Administration (FDA) under the brand name CARVYKTI® for the treatment of adults with relapsed or refractory multiple myeloma. In April 2024, cilta-cel was approved for the second-line treatment of patients with relapsed/refractory myeloma who have received at least one prior line of therapy including a proteasome inhibitor, an immunomodulatory agent, and are refractory to lenalidomide. In May 2022, the European Commission (EC) granted conditional marketing authorization of CARVYKTI® for the treatment of adults with relapsed and refractory multiple myeloma. In September 2022, Japan's Ministry of Health, Labour and Welfare (MHLW) approved CARVYKTI®. Cilta-cel was granted Breakthrough Therapy Designation in the U.S. in December 2019 and in China in August 2020. In addition, cilta-cel received a PRIority MEdicines (PRIME) designation from the European Commission in April 2019. Cilta-cel also received Orphan Drug Designation from the U.S. FDA in February 2019, from the European Commission in February 2020, and from the Pharmaceuticals and Medicinal Devices Agency (PMDA) in Japan in June 2020. In March 2022, the European Medicines Agency's Committee for Orphan Medicinal Products recommended by consensus that the orphan designation for cilta-cel be maintained on the basis of clinical data demonstrating improved and sustained complete response rates following treatment. ABOUT CARTITUDE-1 CARTITUDE-1 (NCT03548207) is a Phase 1b/2, open-label, multicenter study evaluating the safety and efficacy of cilta-cel in adults with relapsed and/or refractory with multiple myeloma who have received at least 3 prior lines of therapy or are double refractory to a PI and IMiD, received a PI, an IMiD, and anti-CD38 antibody and documented disease progression within 12 months of starting the most recent therapy. The primary objective of the Phase 1b portion of the study was to characterize the safety and confirm the recommended Phase 2 dose of cilta-cel, informed by the first-in-human study with LCAR-B38M CAR-T cells (LEGEND-2). The Phase 2 portion further evaluated the efficacy of cilta-cel with overall response rate as the primary endpoint.2 ABOUT CARTITUDE-4 CARTITUDE-4 (NCT04181827) is an ongoing, international, randomized, open-label Phase 3 study evaluating the efficacy and safety of cilta-cel versus pomalidomide, bortezomib and dexamethasone (PVd) or daratumumab, pomalidomide and dexamethasone (DPd) in adult patients with relapsed and lenalidomide-refractory multiple myeloma who received one to three prior lines of therapy, including a PI and an IMiD.3 ABOUT LB1908 NCT05539430 is a Phase 1, open label, dose escalation, multicenter study to evaluate Claudin 18.2-targeting CAR-T cells (LB1908) in adult patients with unresectable, locally advanced or metastatic gastric, gastroesophageal junction, esophageal, or pancreatic adenocarcinoma.4 ABOUT LB2102 NCT05680922 is a Phase 1, first-in-human, open-label, multicenter, dose escalation and expansion study of DLL3-targeted chimeric antigen receptor T-cells (LB2102) in patients with extensive stage small cell lung cancer or large cell neuroendocrine lung cancer.5 ABOUT MULTIPLE MYELOMA Multiple myeloma is an incurable blood cancer that starts in the bone marrow and is characterized by an excessive proliferation of plasma cells.6 In 2024, it is estimated that more than 35,000 people will be diagnosed with multiple myeloma, and more than 12,000 people will die from the disease in the U.S.7 While some patients with multiple myeloma initially have no symptoms, most patients are diagnosed due to symptoms that can include bone problems, low blood counts, calcium elevation, kidney problems or infections.8 ABOUT GASTRIC, ESOPHAGEAL AND PANCREATIC CANCERS Stomach, esophageal and pancreatic cancers affect the tissue or glands lining these organs. They are often diagnosed when the diseases have progressed to advanced stages. In the U.S., there are an estimated 123,920 people living with stomach cancer and 49,084 living with esophageal cancers.9,10 An estimated 89,248 people in the U.S. live with pancreatic cancer. While all three cancers are treatable, the five-year survival rate is just 32% for gastric cancer; 20% for esophageal cancer; and 11.5% for pancreatic cancer, with definitive treatment at all stages of progression.11,12,13 ABOUT SMALL CELL LUNG CANCER Lung cancer is a leading cause of cancer deaths, contributing to 25 percent of all cancer-related fatalities annually in the United States.14 Small cell lung cancer (SCLC) is the most aggressive, and accounts for roughly 10-15 percent of lung cancer cases in the United States.15,16 An estimated 30,000 to 35,000 people are newly diagnosed with the disease each year.16 This cancer becomes more difficult to treat once it has spread and becomes extensive stage SCLC. Approximately 60 to 70 percent of SCLC patients are diagnosed with metastatic SCLC.15,17 ABOUT LEGEND BIOTECH With over 2,600 employees, Legend Biotech is the largest standalone cell therapy company and a pioneer in treatments that change cancer care forever. The company is at the forefront of the CAR-T cell therapy revolution with CARVYKTI®, a one-time treatment for relapsed or refractory multiple myeloma, which it develops and markets with collaborator Johnson & Johnson. Centered in the US, Legend is building an end-to-end cell therapy company by expanding its leadership to maximize CARVYKTI's patient access and therapeutic potential. From this platform, the company plans to drive future innovation across its pipeline of cutting-edge cell therapy modalities. Learn more at and follow us on X (formerly Twitter) and LinkedIn. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to Legend Biotech's strategies and objectives; statements relating to CARVYKTI®, including Legend Biotech's expectations for CARVYKTI® and its therapeutic potential; statements related to the potential results from ongoing studies in the CARTITUDE clinical development program; and the potential benefits of Legend Biotech's product candidates. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Legend Biotech's expectations could be affected by, among other things, uncertainties involved in the development of new pharmaceutical products; unexpected clinical trial results, including as a result of additional analysis of existing clinical data or unexpected new clinical data; unexpected regulatory actions or delays, including requests for additional safety and/or efficacy data or analysis of data, or government regulation generally; unexpected delays as a result of actions undertaken, or failures to act, by our third party partners; uncertainties arising from challenges to Legend Biotech's patent or other proprietary intellectual property protection, including the uncertainties involved in the U.S. litigation process; government, industry, and general product pricing and other political pressures; as well as the other factors discussed in the 'Risk Factors' section of Legend Biotech's Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 11, 2025. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this press release as anticipated, believed, estimated or expected. Any forward-looking statements contained in this press release speak only as of the date of this press release. Legend Biotech specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. ‡ Sundar Jagannath, M.D., Network Director, Multiple Myeloma Center of Excellence for Multiple Myeloma at The Tisch Cancer Institute, Icahn School of Medicine at Mount Sinai, New York, has provided consulting, advisory, and speaking services to Legend Biotech; has not been paid for any media work. INVESTOR CONTACT: Jessie YeungTel: (732) 956-8271 PRESS CONTACT: MaryAnn OndishTel: (914) 552-4625media@ REFERENCES _____________________ 1 CARVYKTI™ Prescribing Information. Horsham, PA: Janssen Biotech, Inc.2 A Study of JNJ-68284528, a Chimeric Antigen Receptor T Cell (CAR-T) Therapy Directed Against B-Cell Maturation Antigen (BCMA) in Participants With Relapsed or Refractory Multiple Myeloma (CARTITUDE-1). Available at: Accessed October 2022.3 A Study Comparing JNJ-68284528, a CAR-T Therapy Directed Against B-cell Maturation Antigen (BCMA), Versus Pomalidomide, Bortezomib and Dexamethasone (PVd) or Daratumumab, Pomalidomide and Dexamethasone (DPd) in Participants With Relapsed and Lenalidomide-Refractory Multiple Myeloma (CARTITUDE-4). Accessed March 2024.4 Claudin 18.2-Targeted Chimeric Antigen Receptor T-cells in Subjects With Unresectable, Locally Advanced, or Metastatic Gastric, Gastroesophageal Junction (GEJ), Esophageal, or Pancreatic Adenocarcinoma. Available at: Accessed May 20255 DLL3-Directed Chimeric Antigen Receptor T-cells in Subjects With Extensive Stage Small Cell Lung Cancer. Available at: Accessed May 20256 American Cancer Society. 'What is Multiple Myeloma?'. Available at: Accessed March 2024.7 American Cancer Society. 'Key Statistics About Multiple Myeloma.' Available at: Accessed March 20248 American Cancer Society. Multiple myeloma: early detection, diagnosis, and staging. Available at: Accessed March 2023.9 Surveillance, Epidemiology, and End Results (SEER) Program. Accessed May 2022.10 Surveillance, Epidemiology, and End Results (SEER) Program. Accessed May 2022.11 American Cancer Society. Accessed May 2022.12 American Cancer Society. May 2022.13 Surveillance, Epidemiology, and End Results (SEER) Program. Accessed May 2022.14 American Cancer Society. 'Key Statistics for Lung Cancer.' Accessed November 2022.15 Byers LA, Rudin CM. Small cell lung cancer: where do we go from here? Cancer. 2015;121(5):664-72.16 Rare Diseases. 'Rare Disease Database.' Accessed November 2022.17 Gong J, Salgia R. Managing patients with relapsed small-cell lung cancer. J Oncol Pract. 2018;14(6): in to access your portfolio
