This article only represents the author's own views.
The good news is coming thick and fast these days for Genscript Biotech Corp. (1548.HK). In early January, it disclosed that China’s National Medical Products Administration (NMPA) accepted its new drug application (NDA) for Cilta-cel , a chimeric antigen receptor T-cell (CAR-T) therapy being developed by its Legend Biotech (LEGN.US) subsidiary. Last Wednesday, it announced that sales of the new drug, marketed in the U.S. under the Carvykti name for treatment of multiple myeloma, reached $55 million in last year’s fourth quarter.
Two days later, the company revealed that a Phase 3 trial for a new indication for the therapy reached its primary endpoint, showing that after years of being a drag, Legend Biotech was finally providing a revenue boost to its money-losing parent.