After Legend Biotech (LEGN) and partner Johnson and Johnson (JNJ) announced that CARTITUDE-4, the Phase 3 study evaluating Carvykti for the treatment of adult patients with relapsed and lenalidomide-refractory multiple myeloma, met its primary endpoint, BTIG analyst Justin Zelin said the firm views this "highly anticipated readout" of the study "positively" and expects that Legend and J&J will commercialize Carvykti in earlier lines of therapy. The firm, which sees the news as a confirmatory event that supports Carvykti use in earlier lines against active standard of care comparator in "a robust phase 3 study," thinks this could "cement" a position as "a best-in-class autologous BCMA CAR-T therapy" in multiple myeloma. BTIG has a Buy rating and $75 price target on Legend shares.
Published first on TheFly
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