FDA To Review Two Cell Therapies For Multiple Myeloma This Week - Johnson & Johnson And Bristol-Myers
Portfolio Pulse from Vandana Singh
The FDA's Oncologic Drugs Advisory Committee is set to review supplemental biologics license applications for two cell therapies for multiple myeloma from Johnson & Johnson/Legend Biotech and Bristol-Myers Squibb. The discussions will focus on the risk-benefit assessments of Carvykti (ciltacabtagene autoleucel) and Abecma (idecabtagene vicleucel), considering clinical benefits against risks of early death and adverse events. HC Wainwright maintains a Buy rating for Legend Biotech with a price target of $87.
March 13, 2024 | 5:44 pm
News sentiment analysis
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NEGATIVE IMPACT
Johnson & Johnson's Carvykti, developed with Legend Biotech, is under FDA review for multiple myeloma. Recent price action shows a slight decrease.
The FDA's review of Carvykti could significantly impact JNJ's stock, especially if the outcome is favorable. However, the recent dip suggests market caution.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Bristol-Myers Squibb's Abecma is under FDA review for multiple myeloma. The focus is on overall survival data and risk-benefit analysis.
The outcome of the FDA review for Abecma could sway BMY's stock, but the current lack of specific market reaction suggests a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
Legend Biotech's Carvykti, in partnership with JNJ, is being reviewed by the FDA. Shares rose 3.94%, and HC Wainwright reiterates a Buy rating with a $87 target.
Positive analyst sentiment and the FDA review could boost LEGN's stock in the short term. The stock's recent rise indicates investor optimism.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 95