{"id":27523,"date":"2022-07-26T21:58:00","date_gmt":"2022-07-26T13:58:00","guid":{"rendered":"https:\/\/flcube.com\/?p=27523"},"modified":"2025-02-20T22:01:13","modified_gmt":"2025-02-20T14:01:13","slug":"legend-biotech-plans-usd-250m-secondary-offering-to-fund-car-t-therapy-development","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=27523","title":{"rendered":"Legend Biotech Plans USD 250M Secondary Offering to Fund CAR-T Therapy Development"},"content":{"rendered":"\n

China-based Legend Biotech Corporation (NASDAQ: LEGN<\/a>), a specialist in chimeric antigen receptor (CAR) T cell therapy, announced plans to raise USD 250 million through a secondary public offering of American Depositary Shares (ADSs). Each ADS represents two ordinary shares. The underwriters have a 30-day option to purchase an additional USD 37.5 million of ADSs at the public offering price.<\/p>\n\n\n\n

Proceeds Allocation<\/strong>
Net proceeds will support the clinical development and commercialization of BCMA-targeted CAR-T therapy Carvykti (cilta-cel), co-developed globally with Johnson & Johnson. Funds will also be used for the construction and expansion of Legend Bio’s manufacturing facilities.<\/p>\n\n\n\n

Offering Details<\/strong>
The timing and final size of the offering are yet to be determined and are subject to market conditions. Morgan Stanley, J.P. Morgan, Jefferies, and Evercore ISI are acting as joint book-running managers, with BMO Capital Markets serving as book-runner. Legend’s Nasdaq shares declined by 6.04% post-market following the announcement.-Fineline Info & Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China-based Legend Biotech Corporation (NASDAQ: LEGN), a specialist in chimeric antigen receptor (CAR) T cell…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,10],"tags":[30,21,77,20,112,873],"class_list":["post-27523","post","type-post","status-publish","format-standard","hentry","category-company","category-deals","tag-biotech","tag-car-t","tag-cell-therapy","tag-finance","tag-legend-biotech","tag-nasdaq-legn"],"yoast_head":"\nLegend Biotech Plans USD 250M Secondary Offering to Fund CAR-T Therapy Development - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China-based Legend Biotech Corporation (NASDAQ: LEGN), a specialist in chimeric antigen receptor (CAR) T cell therapy, announced plans to raise USD 250 million through a secondary public offering of American Depositary Shares (ADSs). 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