JNJ - Genscript Losses Widen But Investors Focus On Newly Approved Cancer Treatment
- The company expects to lose up to $519 million last year, but its fortunes may improve after its Legend Biotech unit received FDA approval this week for a new CAR-T cell therapy product.
- Genscript Biotech said it lost up to $519 million last year, with its Legend Biotech unit accounting for nearly 70% of that.
- Legend Biotech’s Cilta-cel CAR-T cell therapy product was approved by the FDA on Monday, and could become a major cash cow for Genscript Biotech.
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Genscript Losses Widen, But Investors Focus On Newly Approved Cancer Treatment