IPO Lockup Expiration Alert: Legend Biotech (LEGN)

(RTTNews) - The lockup period of Legend Biotech Corp.(LEGN) comes to an end tomorrow, i.e., on December 2.

Legend Biotech is a clinical-stage biopharmaceutical company developing novel cell therapies for oncology and other indications.

The company's lead product candidate is Ciltacabtagene autoleucel, designated as LCAR-B38M/JNJ-4528, an investigational BCMA targeted CAR-T cell therapy, for patients with multiple myeloma. It is being jointly developed with Janssen Biotech.

Ciltacabtagene autoleucel is under phase Ib/II registration study being conducted in the US and Japan for the treatment of patients with multiple myeloma, dubbed CARTITUDE-1, among others.

The company is scheduled to present new and updated data from its CARTITUDE-1 and *LEGEND-2 studies at the 62nd American Society of Hematology (ASH) Annual Meeting and Exposition taking place virtually December 5-8, 2020.

LEGEND-2 is an ongoing, phase I trial of LCAR-B38M in patients with relapsed or refractory multiple myeloma being conducted in China.

The company made its debut on The Nasdaq Global Select Market on June 5, 2020, offering its American depositary shares at a price of $23.00 each and the 180 day lockup period will end on December 2.

LEGN opened the first day of trading on June 5 at $37.01 and closed at $37.00 that day. The stock has thus far hit a low of $24.64 and a high of $43.24.

LEGN closed Monday's trading at $29.73, up 2.52%.