Legend Biotech presents CARVYKTI data and LEGN stock fell 4.07 percent

Published on 10/07/2026 at 00:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CARVYKTI kept 50.00 percent progression-free at five years. LEGN stock last traded at EUR 16.50 on October 2, 2026, versus EUR 17.20, down 4.07 percent.

LEGN, US52490G1022, Illustration mit AI erstellt.

Legend Biotech Corporation (ISIN US52490G1022) presented five-year CARVYKTI data on September 25, 2026, while LEGN stock later fell 4.07 percent on Tradegate. The company reported that 10 of 20 patients, or 50.00 percent, remained alive and progression-free without maintenance therapy five years after a single infusion, according to Legend Biotech on September 25, 2026.

Five-year remission signal

The study involved CARTITUDE-2 Cohort A and a median follow-up of 60.70 months. Median progression-free survival reached 60.50 months, while 69.20 percent of patients were alive at five years, according to the company release.

The result strengthens the long-duration case for CARVYKTI in relapsed or refractory multiple myeloma, but the small cohort limits how broadly the result can be applied. The same release said one patient developed acute myeloid leukemia and two deaths occurred after the earlier analysis.

Revenue rises with earnings pressure

Legend Biotech reported USD 387.5 million of revenue in the second quarter of 2026, up 51.9 percent from the same quarter a year earlier. Earnings per share reached USD 0.09 against a USD 0.07 consensus estimate, according to Earnings Today.

The earnings picture remains uneven because operating cash flow was negative USD 20.9 million in the second quarter. That contrast leaves CARVYKTI sales growth and manufacturing execution as key measures for the next report.

Analyst targets stay divided

H.C. Wainwright maintained a Buy rating and a USD 65.00 target, while Oppenheimer cut its rating from Outperform to Perform and reduced its target from USD 75.00 to USD 40.00, according to Investing.com on September 30, 2026. The split reflects the central investment debate: durable CARVYKTI demand must offset competition, safety considerations and the company's dependence on one leading therapy.

Tradegate quote remains below prior close

Legend Biotech was last at EUR 16.50 on Tradegate on October 2, 2026, down 4.07 percent versus the EUR 17.20 prior close. The primary listing is NASDAQ, where finance data showed a market capitalization of USD 3.5 billion and a 52-week range of USD 16.24 to USD 37.50 as of October 6, 2026.

The further course of trading is shown by the continuously updated real-time quote of LEGN stock.