Legend Biotech Shares Surge 20% On Promising ASCO Data For Solid Tumor CAR-T Therapy |
NEW YORK — Legend Biotech Corporation shares jumped nearly 20% in morning trading Tuesday, reaching $30.56 as investors reacted positively to new clinical data presented at the American Society of Clinical Oncology annual meeting highlighting early success in extending CAR-T therapy to solid tumors.
The biotechnology company, focused on cell therapies for cancer, saw its stock climb on enthusiasm for first-in-human results of its investigational LB2102 therapy in relapsed or refractory small cell lung cancer and large-cell neuroendocrine carcinoma. The data showed encouraging signs of activity alongside a manageable safety profile.
At higher dose levels, LB2102 achieved an objective response rate of 28.6% and a disease control rate of 78.6%, with some durable responses observed in heavily pretreated patients. No dose-limiting toxicities were reported through the tested levels.
Pipeline Progress in Solid Tumors
The LB2102 presentation marks a notable step for the field, where CAR-T therapies have historically struggled against the challenges of solid tumors, including immunosuppressive microenvironments. LB2102 incorporates a dominant-negative TGFβ receptor to help overcome such barriers.
Legend Biotech is developing LB2102 under a collaboration where it leads the U.S. Phase 1 trial, with partner Novartis handling broader development and commercialization outside certain rights. The early data support continued advancement in this difficult-to-treat........