Legend Biotech Announces Phase 1 Results for LB2102 in Lung Cancer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 02 2026
0mins
Source: NASDAQ.COM
- Clinical Trial Progress: Legend Biotech presented Phase 1 trial results for LB2102 at the 2026 ASCO annual meeting, revealing an objective response rate (ORR) of 28.6% and a disease control rate (DCR) of 78.6% at higher doses, offering new hope for treating small cell lung cancer and large cell neuroendocrine carcinoma.
- Efficacy Data: The overall ORR was 20% with a DCR of 70%, while the median duration of disease control was 6.1 months and the median duration of response was 6.5 months, indicating the therapy's potential clinical value in disease management.
- Safety Assessment: Adverse events were minimal, with at least 30% of patients experiencing cytokine release syndrome (CRS) and 15% experiencing immune effector cell-associated neurotoxicity syndrome (ICANS), with no dose-limiting toxicities or treatment-related deaths reported, highlighting the therapy's safety profile.
- Market Performance: Despite LEGN closing at $25.51, down 6.08%, the stock rebounded to $26.23 in the overnight market, up 2.82%, reflecting investor interest and confidence in the new therapy.
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Analyst Views on LEGN
Wall Street analysts forecast LEGN stock price to rise
11 Analyst Rating
10 Buy
1 Hold
0 Sell
Strong Buy
Current: 28.040
Low
48.00
Averages
68.10
High
90.00
Current: 28.040
Low
48.00
Averages
68.10
High
90.00
About LEGN
Legend Biotech Corporation is a global biopharmaceutical company. The Company is engaged in the discovery, development, manufacturing and commercialization of cell therapies for oncology and other indications. Its lead product candidate, ciltacabtagene autoleucel (cilta-cel), referred to as LCAR- B38M, is an autologous chimeric antigen receptor (CAR-T) cell therapy that targets the B-cell maturation antigen (BCMA), which is a highly expressed protein in several hematologic malignancies, including multiple myeloma (MM). In addition to cilta-cel, the Company has a portfolio of earlier-stage autologous CAR-T product candidates targeting various cancers, including Non-Hodgkins Lymphoma, acute lymphoblastic leukemia, gastric cancer, esophageal cancer, pancreatic cancer, colorectal cancer, small cell lung cancer, and non-small cell lung cancer. It is also engaged in developing an allogeneic gamma delta CAR-T product candidate and an allogeneic CAR-NK product candidate targeting BCMA for MM.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- BioNTech's Clinical Trial Progress: Despite a 35.4% year-over-year revenue decline to €118.1 million, BioNTech is running over 25 phase 2 and phase 3 clinical trials, showcasing a mature oncology portfolio that could attract acquisition interest.
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- Current Board Positions: Currently, Sanders holds board positions at Legend Biotech, Ultragenyx Pharmaceutical, and AltruBio, further enhancing her influence within the biotechnology industry.
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See More
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- Offering Size: Legend Biotech has announced the pricing of 7.7 million American Depositary Shares (ADSs) at $29.35 each, with total gross proceeds expected to be approximately $226 million, which will significantly bolster the company's capital structure.
- Underwriter Arrangement: Morgan Stanley, Jefferies, Citigroup, and Deutsche Bank Securities are acting as joint book-running managers for the transaction, indicating strong market confidence in the company's financing capabilities and laying the groundwork for future capital operations.
- Overallotment Option: Legend Biotech has granted underwriters a 30-day overallotment option to purchase up to an additional 1.16 million ADSs at the public offering price, providing the company with flexibility for further financing.
- Market Reaction: Following the announcement of the offering, Legend Biotech's shares fell 6% in after-hours trading on Wednesday, reflecting a cautious market sentiment regarding the financing, which may impact the company's short-term stock performance.
See More
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- Underwriter Arrangement: The offering is managed by Morgan Stanley, Jefferies, Citigroup, and Deutsche Bank Securities, with underwriters granted a 30-day option to purchase an additional 1.155 million ADSs at the offering price, which enhances market confidence in the transaction.
- Transaction Timeline: The offering is expected to close on June 23, 2026, subject to customary closing conditions, providing investors with a clear timeline that aids in market transparency and planning.
- Market Performance: Over the past year, LEGN shares have traded between $16.24 and $45.30, closing at $33.52, although they fell 5.43% to $31.70 in overnight trading, yet the overall performance reflects a degree of market vitality.
See More
