Legend data tops ‘even the most lofty expectations,’ says JPMorgan

JPMorgan analyst Jessica Fye says that in a positive surprise from the European Hematology Association website, initial CARTITUDE-4 details were unveiled with a progression-free survival hazard ratio "beating even the most lofty expectations." Carvykti’s progression-free survival hazard ratio came in at a "stunning" 0.26, the analyst tells investors in a research note. The firm believes these data strongly support the use of Carvykti in earlier lines of therapy and a "robust" peak sales opportunity. It keeps an Overweight rating on Legend Biotech.