Latest news with #LegendBiotech
Yahoo
20 hours ago
- Business
- Yahoo
Legend Biotech Reports Second Quarter 2025 Results and Recent Highlights
CARVYKTI® (ciltacabtagene autoleucel; cilta-cel) net trade sales of approximately $439 million CARVYKTI® demonstrated positive long-term outcomes in CARTITUDE-1 study with one-third of patients remaining progression-free for ≥5 years Presented other important CARVYKTI® and new solid tumor data at ASCO Over 7,500 patients treated to date Cash and cash equivalents, and time deposits of $1.0 billion, as of June 30, 2025 SOMERSET, N.J., Aug. 11, 2025 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, today reported its second quarter 2025 unaudited financial results and key corporate highlights. 'The groundbreaking five-year survival data from CARTITUDE-1, with one-third of patients remaining progression-free, reinforces CARVYKTI's durability and potential to redefine the standard of care when treating relapsed and refractory multiple myeloma patients. These findings mark the latest step forward in ensuring patients in need of long-term relief from disease progression and the burden of continuous treatments can benefit from a one-time infusion of our differentiated therapy,' said Ying Huang, Ph.D., Chief Executive Officer of Legend Biotech. 'Further, our continued commitment to expanding access to CARVYKTI, with recent launches in several new markets, is underscored by a record quarterly performance representing the strongest single period of any CAR-T therapeutic sales to date. As we advance our pipeline of CAR-T programs and work towards profitability in 2026, we remain guided by our mission of delivering innovative cell therapy solutions to patients worldwide.' Regulatory Updates The U.S. Food and Drug Administration (FDA) removed Risk Evaluation and Mitigation Strategies (REMS) for currently approved BCMA- and CD19-directed autologous chimeric antigen receptor (CAR) T cell immunotherapies, including CARVYKTI. In addition, product labeling was updated to include the reduction of certain monitoring requirements for CARVYKTI patients. Key Business Developments Treated over 7,500 clinical and commercial patients to date. At the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting: Announced positive long-term outcomes from the CARTITUDE-1 study, demonstrating one-third of patients with relapsed and refractory multiple myeloma remained progression-free for ≥5 years. Presented Phase 3 CARTITUDE-4 study subgroup analyses at a median follow-up of 33.6 months, which highlighted consistent, durable progression-free and overall survival benefit when compared to standard therapies across cytogenetic risk groups as early as second-line of therapy at ASCO. Presented safety, tolerability, and preliminary efficacy results of a Phase 1 dose-escalating study of LB2102, an autologous DLL3-targeted CAR-T therapy, which demonstrated no dose-limiting toxicities and preliminary efficacy signal was observed up to four dose levels in patients with relapsed or refractory small-cell lung cancer and large cell neuroendocrine carcinoma. Announced preliminary results of a first-in-human Phase 1 study of LB1908, an autologous Claudin 18.2-targeted CAR-T product, which demonstrated encouraging antitumor activity with manageable safety and tolerability in patients with advanced gastric, gastroesophageal, and esophageal adenocarcincoma. At the European Hematology Association (EHA) 2025 Congress, presented an analysis of 355 patients from the CARTITUDE program on the association of key biomarker Absolute Lymphocyte Count (ALC) with select neurocognitive treatment-emergent adverse events post-treatment. The analysis showed that patients with a Movement and Neurocognitive Treatment-emergent event or Cranial Nerve Palsy had significantly higher ALC compared to control, suggesting ALC may help guide closer monitoring and preemptive interventions. Cash and cash equivalents, and time deposits of $1.0 billion, which Legend Biotech believes will provide financial runway into 2026, when Legend Biotech anticipates potentially achieving an operating profit excluding unrealized foreign exchange gains or losses. Second Quarter 2025 Financial Results : Cash and cash equivalents, and time deposits were $1.0 billion as of June 30, 2025. License Revenue: License revenue was $35.3 million for the three months ended June 30, 2025, compared to $90.8 million for the three months ended June 30, 2024. The decrease was primarily driven by the timing of $75.1 million of milestones achieved during the three months ended June 30, 2024, under the Janssen Agreement, while we did not achieve any milestones from the Janssen Agreement for the three months ended June 30, decrease was offset by an increase in license revenue recognized in the three months ended June 30, 2025, under an exclusive agreement with a related party. For the three months ended June 30, 2025, we recognized $20.0 million in license revenue under this agreement. No license revenue was recognized under this agreement during the three months ended June 30, 2024. : Collaboration revenue was $219.7 million for the three months ended June 30, 2025, compared to $93.3 million for the three months ended June 30, 2024. The increase was due to an increase in revenue generated from sales of CARVYKTI® in connection with the Janssen Agreement. : Cost of collaboration revenue was $94.9 million for the three months ended June 30, 2025, compared to $45.4 million for the three months ended June 30, 2024. The increase was primarily due to our share of the cost of sales in connection with CARVYKTI® sales under the Janssen Agreement and expenditures to support expansion in manufacturing capacity. : Research and development expenses were $98.3 million for the three months ended June 30, 2025, compared to $112.6 million for the three months ended June 30, 2024. The decrease was due to higher research and development activities in cilta-cel for the three months ended June 30, 2024, driven by start-up costs for clinical production at our two Belgium facilities. With one of those facilities now manufacturing commercial product, clinical production has scaled back, resulting in lower research and development expenses for the current period. Administrative expenses were $32.6 million for the three months ended June 30, 2025, compared to $35.4 million for the three months ended June 30, 2024. Administrative expenses remained relatively flat, with an increase in staffing-related expenses due to higher headcount, offset by lower IT expenses due to the timing of completion of existing projects or the initiation of new projects compared to the same period in the prior year. nses: Selling and distribution expenses were $48.1 million for the three months ended June 30, 2025, compared to $30.1 million for the three months ended June 30, 2024. The increase was due to increased costs associated with commercial activities, including expansion of the sales force due to growing sales of CARVYKTI®. Adjusted net income was $10.1 million for the three months ended June 30, 2025, compared to an adjusted net loss of $2.5 million for the three months ended June 30, 2024. Webcast/Conference Call Details: Legend Biotech will host its quarterly earnings call and webcast today at 8:00 am ET. To access the webcast, please visit this weblink. A replay of the webcast will be available on Legend Biotech's website at About Legend Biotech With over 2,800 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 Legend Biotech manufacturing expectations for CARVYKTI® and the ability of Legend Biotech's manufacturing expansion and commercial execution to maintain CARVYKTI's market leadership position; statements related to Legend Biotech's ability to fund its operations into 2026 and to achieve profitability in 2026; 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 for the year ended December 31, 2024 filed with the Securities and Exchange Commission (SEC) on March 11, 2025 and Legend Biotech's other filings with the SEC. 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. INVESTOR CONTACT:Jessie YeungTel: (732) PRESS CONTACT:Mary Ann OndishTel: (914) 552-4625media@ BIOTECH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS(UNAUDITED; DOLLARS IN THOUSANDS, EXCEPT PER SHARE AND SHARES DATA) Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 2025 2024 REVENUE License revenue $ 35,338 $ 90,846 $ 44,686 $ 103,027 Collaboration revenue 219,717 93,254 405,332 171,735 Other revenue 3 2,423 93 5,752 Total revenue 255,058 186,523 450,111 280,514 Cost of collaboration revenue (94,872 ) (45,355 ) (164,369 ) (94,456 ) Cost of license and other revenue (3,119 ) (5,096 ) (4,966 ) (10,734 ) Research and development expenses (98,302 ) (112,626 ) (200,226 ) (213,590 ) Administrative expenses (32,594 ) (35,353 ) (64,057 ) (67,282 ) Selling and distribution expenses (48,052 ) (30,063 ) (89,021 ) (54,286 ) Loss on asset impairment — — (970 ) — Finance costs (5,222 ) (5,484 ) (10,283 ) (10,959 ) Finance income* 10,433 17,049 22,489 30,919 Other (expense)/income, net* (108,128 ) 12,435 (162,636 ) 62,116 Loss before tax (124,798 ) (17,970 ) (223,928 ) (77,758 ) Income tax expense (582 ) (226 ) (2,368 ) (231 ) Net loss $ (125,380 ) $ (18,196 ) $ (226,296 ) $ (77,989 ) LOSS PER SHARE Basic $ (0.34 ) $ (0.05 ) $ (0.62 ) $ (0.21 ) Diluted $ (0.34 ) $ (0.05 ) $ (0.62 ) $ (0.21 ) Weighted average shares outstanding Basic 368,271,125 365,204,154 367,900,548 364,610,589 Diluted 368,271,125 365,204,154 367,900,548 364,610,589 *Certain prior year amounts have been reclassified to present finance income as a separate line item and to combine other income/(expense), net for comparative BIOTECH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION(DOLLARS IN THOUSANDS) June 30, 2025 December 31, 2024 NON-CURRENT ASSETS (Unaudited) Property, plant and equipment $ 106,381 $ 99,288 Right-of-use assets 127,217 101,932 Time deposits — 4,362 Intangible assets 2,137 2,160 Collaboration prepaid leases 198,646 172,064 Other non-current assets* 5,659 6,430 Total non-current assets $ 440,040 $ 386,236 CURRENT ASSETS Collaboration inventories, net $ 35,589 $ 23,903 Trade receivables 27,584 6,287 Prepayments, other receivables and other assets 219,076 130,975 Pledged deposits 70 70 Time deposits 700,969 835,934 Cash and cash equivalents 266,586 286,749 Total current assets 1,249,874 1,283,918 TOTAL ASSETS $ 1,689,914 $ 1,670,154 CURRENT LIABILITIES Trade payables $ 75,361 $ 38,594 Other payables and accruals 138,836 166,180 Government grants 651 532 Lease liabilities 5,906 4,794 Tax payable 11,550 20,671 Contract liabilities 33,178 46,874 Total current liabilities $ 265,482 $ 277,645 NON-CURRENT LIABILITIES Collaboration interest-bearing advanced funding $ 310,264 $ 301,196 Lease liabilities long term 71,742 44,613 Government grants 6,887 6,154 Total non-current liabilities 388,893 351,963 TOTAL LIABILITIES $ 654,375 $ 629,608 EQUITY Share capital $ 37 $ 37 Reserves 1,035,502 1,040,509 Total equity 1,035,539 1,040,546 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,689,914 $ 1,670,154 *Certain prior year amounts have been reclassified to combine advance payments for property, plant, and equipment into other non-current assets for comparative BIOTECH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW(UNAUDITED; DOLLARS IN THOUSANDS) Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 2025 2024 Loss before tax $ (124,798 ) $ (17,970 ) $ (223,928 ) $ (77,758 ) Cash flows (used in) / provided by operating activities (13,042 ) (1,651 ) (116,796 ) 13,867 Cash flows (used in) / provided by investing activities (165,525 ) (695,631 ) 91,115 (1,091,779 ) Cash flows (used in) / provided by financing activities (990 ) 955 (323 ) 1,786 Net decrease in cash and cash equivalents (179,557 ) (696,327 ) (26,004 ) (1,076,126 ) Effect of foreign exchange rate changes, net 4,441 9 5,841 (334 ) Cash and cash equivalents at beginning of the year $ 441,702 $ 897,571 $ 286,749 $ 1,277,713 CASH AND CASH EQUIVALENTS AT END OF THE PERIOD $ 266,586 $ 201,253 $ 266,586 $ 201,253 Analysis of balances of cash and cash equivalents Cash and bank balances $ 967,625 $ 1,254,469 $ 967,625 $ 1,254,469 Less: Pledged deposits 70 431 70 431 Time deposits 700,969 1,052,785 700,969 1,052,785 Cash and cash equivalents as stated in the statement of financial position $ 266,586 $ 201,253 $ 266,586 $ 201,253 Cash and cash equivalents as stated in the statement of cash flows $ 266,586 $ 201,253 $ 266,586 $ 201,253 RECONCILIATION OF IFRS TO NON-IFRS MEASURES We use Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share (which we sometimes refer to as 'Adjusted EPS' or 'ANI per Share', respectively) as performance metrics. Adjusted Net Income (Loss) and ANI per share are not defined under IFRS, are not a measure of operating income, operating performance, or liquidity presented in accordance with IFRS, and are subject to important limitations. Our use of Adjusted Net Income (Loss) has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under IFRS. For example: Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted Net Income (Loss) does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements. Adjusted Net Income (Loss) excludes unrealized foreign exchange gain or loss, which resulted primarily from changes in the intercompany loan balances and cash balances as a result of exchange rate changes between USD and EUR. Adjusted Net Income (Loss) does not reflect changes in, or cash requirements for, our working capital needs. In addition, Adjusted Net Income (Loss) excludes such as share based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense for our business and an important part of our compensation strategy. Also, our definition of Adjusted Net Income (Loss) and ANI per Share may not be the same as similarly titled measures used by other companies. However, we believe that providing information concerning Adjusted Net Income (Loss) and ANI per Share enhances an investor's understanding of our financial performance. We use Adjusted Net Income (Loss) as a performance metric that guides management in its operation of and planning for the future of the business. We believe that Adjusted Net Income (Loss) provides a useful measure of our operating performance from period to period by excluding certain items that we believe are not representative of our core business. We define Adjusted Net Income (Loss) as net income (loss) adjusted for (1) non-cash items such as depreciation and amortization, share based compensation, impairment loss, and (2) unrealized foreign exchange gain or loss mainly related to intercompany loan balances and cash deposit balances as a result of exchange rate changes between USD and EUR. ANI per Share is computed by dividing Adjusted Net Income (Loss) by the weighted average shares outstanding. A reconciliation between Adjusted Net Income (Loss) and Net Loss, the most directly comparable measure under IFRS, has been provided in the table BIOTECH CORPORATIONRECONCILIATION OF IFRS TO NON-IFRS(UNAUDITED; DOLLARS IN THOUSANDS, EXCEPT PER SHARE AND SHARES DATA) Three Months EndedJune 30, Six Months EndedJune 30, 2025 2024 2025 2024 Net loss $ (125,380 ) $ (18,196 ) $ (226,296 ) $ (77,989 ) Depreciation and amortization 5,854 5,369 11,053 11,091 Share based compensation 18,697 21,739 34,643 40,442 Impairment loss — — 970 — Unrealized foreign exchange loss/(gain) (included in Other income/(expense), net) 110,920 (11,419 ) 162,722 (61,308 ) Adjusted net income/(loss) (ANI) $ 10,091 $ (2,507 ) $ (16,908 ) $ (87,764 ) ANI per share: ANI per share - basic $ 0.03 $ (0.01 ) $ (0.05 ) $ (0.24 ) ANI per share - diluted* $ 0.03 $ (0.01 ) $ (0.05 ) $ (0.24 ) *The diluted weighted average shares outstanding used in the calculation of the diluted ANI per share for the three months ended June 30, 2025, is 377,041,415.
Yahoo
28-07-2025
- Business
- Yahoo
Legend Biotech to Host Investor Conference Call on Second Quarter 2025 Results
SOMERSET, N.J., July 28, 2025 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, will host a conference call for investors at 8:00 am ET on Monday, August 11, 2025, to review second-quarter 2025 results. During the webcast and conference call, senior leaders will provide an overview of Legend Biotech's performance for the quarter. Investors and other interested parties may join the live audio webcast of the call via this weblink. A replay of the webcast and earnings news release will be available through the Investor Relations section of Legend Biotech's website under the Events and Presentations section approximately two hours after the call concludes. 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. INVESTOR CONTACT:Jessie YeungTel: (732) PRESS CONTACT:Mary Ann OndishTel: (914) 552-4625media@ in to access your portfolio
Yahoo
06-07-2025
- Business
- Yahoo
H.C. Wainwright Maintains a Buy on Legend Biotech (LEGN) With a $75 Price Target
Legend Biotech Corporation (NASDAQ:LEGN) is one of the 13 Best Pharma Stocks to Buy According to Wall Street Analysts. On July 2, analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Legend Biotech Corporation (NASDAQ:LEGN) with a $75.00 price target. A laboratory with workers in masks and lab coats focused on analyzing cell therapies. The analyst highlighted the company's promising outlook, supported by its CARVYKTI. Another factor suggesting the treatment's favorable risk-benefit profile is the FDA approval of a supplemental BLA for CARVYKTI that eliminates the need for a risk evaluation and mitigation strategy. The analyst expects this factor, coupled with the updated monitoring requirements, to expedite the launch of CARVYKTI in the US market. In addition, the extensive experience of physicians with CARVYKTI, despite the recommendation by the European Medicines Agency to include warnings regarding potential immune-mediated enterocolitis, suggests that the product's benefits outweigh its risks. Legend Biotech Corporation (NASDAQ:LEGN) is a clinical-stage company that develops, discovers, manufactures, and commercializes novel therapies for oncology and other indications. It develops advanced cell therapies across an elaborate range of technology platforms. The company operates in the US, China, and other geographical segments. While we acknowledge the potential of LEGN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error 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
Irish Times
17-06-2025
- Health
- Irish Times
Could the end be in sight for a deadly blood cancer?
A group of 97 patients had long-standing multiple myeloma, a common blood cancer that doctors consider incurable, and faced a certain, and extremely painful, death within about a year. They had gone through a series of treatments , each of which controlled their disease for a while. But then it came back. They reached the stage where they had no more options and were facing hospice care. They all got immunotherapy, in a study that was a last-ditch effort. A third responded so well that they got what seems to be an astonishing reprieve. The immunotherapy developed by Legend Biotech, a company founded in China , seems to have made their cancer disappear. And after five years, it still has not returned in those patients – a result never before seen in this disease. READ MORE These results, in patients whose situation had seemed hopeless, has led some battle-worn oncologists to dare to say the words 'potential cure'. 'In my 30 years in oncology, we haven't talked about curing myeloma,' said Dr Norman Sharpless, a former director of the National Cancer Institute in the United States, who is now a professor of cancer policy and innovation at the University of North Carolina School of Medicine. 'This is the first time we are really talking seriously about cure in one of the worst malignancies imaginable.' The new study, reported recently at the annual conference of the American Society of Clinical Oncology and published in The Journal of Clinical Oncology, was funded by Johnson & Johnson, which has an exclusive licensing agreement with Legend Biotech. About 350 people are diagnosed with multiple myeloma each year in Ireland . It is an illness that eats away at bones, so it looks as if holes have been punched out in them, said Dr Carl June, of the University of Pennsylvania. June has seen patients who lost six inches in height. 'Right now advanced myeloma is a death sentence,' he said. There have been treatment advances that increased median survival from two years to 10 over the past two decades. But no cures. Dr Peter Voorhees, lead researcher for the newly published study, said patients usually go through treatment after treatment until, ultimately, the cancer prevails, developing resistance to every class of drug. They end up with nothing left to try. The Legend immunotherapy is a type known as CAR-T (chimeric antigen receptor T- cell therapy). It is delivered as an infusion of the patient's own white blood cells that have been removed and engineered to attack the cancer. The treatment has revolutionised prospects for patients with other types of blood cancer, such as leukaemia. Ireland's first adult CAR T-Cell centre was opened in St James's Hospital, Dublin, in 2021. Making CAR-T cells, though, is an art, with so many possible variables that it can be hard to hit on one that works. And it can have severe side effects including a high fever, trouble breathing and infections. Patients can be hospitalised for weeks after receiving it. But Legend managed to develop one that works in multiple myeloma, defying sceptics. The Chinese company – now a US company with headquarters in New Jersey – gained attention for its CAR-T eight years ago when it made extravagant claims, which were met by sniggers from researchers. [ Multiple myeloma: Patients are living longer and longer Opens in new window ] Johnson & Johnson, though, was looking for a CAR-T to call its own. So, said Mark Wildgust, an executive in the oncology section of the American drug giant, the company sent scientists and physicians to China to see if the claims were true. 'We went site by site to look at the results,' he said. The company was convinced. It initiated a collaboration with Legend and began testing the treatment in patients whose myeloma had overcome at least one standard treatment. Compared with patients who had standard treatment, those who had the immunotherapy lived longer without their disease progressing. The immunotherapy received regulatory approval in that limited setting and is sold under the brand name Carvykti. The study did not determine whether this difficult treatment saved lives. The new study took on a different challenge – helping patients at the end of the line after years of treatments. Their immune systems were worn down. They were, as oncologists said, 'heavily pretreated'. So even though CAR-T is designed to spur their immune systems to fight their cancer, it was not clear their immune systems were up to it. Oncologists say that even though most patients did not clear their cancer, having a third who did was remarkable. To see what the expected lifespan would be for these patients without the immunotherapy, Johnson & Johnson looked at data from patients in a registry who were like the ones in its study – they had failed every treatment. They lived about a year. [ Access to new cancer drugs key focus of new patient advocacy group Opens in new window ] For Anne Stovell, one of the study patients whose cancer disappeared, the result is almost too good to be true. She says she went through nine drugs to control her cancer after it was diagnosed in 2010, some of which had horrendous side effects. Each eventually failed. Taking the Legend CAR-T was difficult – she said she spent nearly three weeks in hospital. But since that treatment six years ago, she has no sign of cancer. She said it was still difficult for her to believe her myeloma is gone. A new ache – or an old one – can bring on the fear. 'There's that little seed of doubt,' she said. But in test after test, the cancer has not reappeared. – This article originally appeared in the New York Times
Forbes
10-06-2025
- Health
- Forbes
Another Deadly Cancer That's Potentially Been Tamed By Globalization
'In my 30 years of oncology, we haven't talked about curing myeloma.' Those are the words of University of North Carolina professor of cancer policy, Norman Sharpless, as reported in the New York Times. For those who don't know, multiple myeloma is a blood cancer that's long been known as incurable. Which raises a question: what would readers do if they received a multiple myeloma diagnosis? It's no reach to say that most of us would ask the doctor relaying the horrible news if there's any hope, any cure, or any possible cure anywhere. This would particularly be true with myeloma since the traditional path to death within a year of diagnosis is described by the Times as 'extremely painful.' Enter Legend Biotech, a Somerset, NJ biotechnology company. The Times reports that the immunotherapy developed there loomed as a 'last-ditch' option five years ago for close to 100 myeloma patients. The encouraging, beautiful news is that a third emerged from what was traditionally a death sentence alive and cancer free. To say that what's happening at Legend Biotech is an exciting development insults understatement. Finally, after all this time there's progress. And the progress exists as optimism that we're on the doorstep of many more remarkable leaps. Which requires another pause. Though Legend is based in Somerset, NJ, its origins are Chinese. It raises a question: would readers facing death refuse the treatments developed by Legend, or some other pharmaceutical corporation operating in China? One assumes the question answers itself. On matters of life and death, there's a natural tendency among humans to do whatever it takes to survive, particularly if they have children. It's just a comment that when death stares us in the face, no pause is required. We're wired to search far and wide for whatever will keep us upright. The main thing is that while Legend is now New Jersey-based, it still has operations in China. Good. The more that the world is economically integrated, the better off we all are. In other words, it's not a 'national security' threat when great leaps of the AI, financial, or pharmaceutical variety are hatched somewhere not the United States. Figure that if trading lanes are open, it's as though the world's greatest products, services and cures are all being created right next door. And when market goods are crossing borders without regard to country origin, war of the shooting and bombing kind becomes frightfully expensive. Looked at in tax terms, Legend's global footprint is hopefully a reminder to U.S. tax writers that when it comes to innovative developments meant to cure some of the worst diseases, it's extraordinarily mistaken to tax 'Made in America' more favorably than 'Made Around the World.' The more that U.S. pharmaceutical companies avail themselves of global talent, the much better that American drugs will be. And the more that tax policy is neutral as applied to U.S. corporations, the more easily they'll be able to acquire the best of the best globally. The simple, and ultimately life-saving truth is that productivity is an effect of cooperation across as many hands, machines, and machines that think as possible. Drugs aren't unique in this regard. The more specialized cooperation in the development of moon-shot style cures, the quicker the arrival at the cure. Sharpless went on to tell the Times that 'This is the first time we are really talking seriously about cures in one of the worst malignancies imaginable.' The brilliant fruits of tessellated talents at opposite sides of the world. It's just something to remember. Cliched though it may sound, there's no limit to progress when specialized genius is combined. Let's not allow tax writers to erect barriers to this collaboration solely because genius occasionally has a foreign address.
