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    How New FDA Myeloma Guidance and Board Refresh May Shape Legend Biotech’s (LEGN) Risk‑Reward Profile

    Simply Wall St·02/19/2026 07:37:31
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    • Legend Biotech Corporation recently appointed Gareth Kung to its board as a Class II director and chair of the Audit Committee, bringing extensive global CFO and capital markets experience from the semiconductor and clean energy sectors.
    • This governance shift coincides with supportive FDA draft guidance for multiple myeloma trial endpoints, potentially strengthening oversight as Legend advances its CARTITUDE program and broader cell therapy pipeline.
    • We’ll now examine how the FDA’s supportive multiple myeloma guidance may reshape Legend Biotech’s investment narrative and risk-reward profile.

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    Legend Biotech Investment Narrative Recap

    To own Legend Biotech, you need to believe CARVYKTI can fund a broader, durable cell therapy franchise while the company manages heavy investment and partnership dependence. The FDA’s draft guidance on multiple myeloma endpoints appears supportive for the CARTITUDE program, which remains a key near term catalyst, while Gareth Kung’s appointment looks more like a governance upgrade than a change to the core clinical or commercial risk profile.

    The most relevant recent announcement is Legend’s update that CARVYKTI has treated over 10,000 patients globally and remains the market leader in multiple myeloma CAR T. That scale underlines both the opportunity and the concentration risk around a single product, especially as new modalities and pricing pressures emerge just as the FDA guidance could potentially accelerate earlier line indications.

    Yet behind the supportive FDA tone, investors should also be aware that...

    Read the full narrative on Legend Biotech (it's free!)

    Legend Biotech’s narrative projects $2.3 billion revenue and $632.7 million earnings by 2028.

    Uncover how Legend Biotech's forecasts yield a $64.73 fair value, a 253% upside to its current price.

    Exploring Other Perspectives

    LEGN 1-Year Stock Price Chart
    LEGN 1-Year Stock Price Chart

    While recent FDA guidance looks helpful, the most pessimistic analysts already assumed about US$2.1 billion of revenue and US$254.1 million of earnings by 2028, so you should weigh that against tighter reimbursement risks and consider how today’s news might shift those expectations.

    Explore 5 other fair value estimates on Legend Biotech - why the stock might be worth over 6x more than the current price!

    Decide For Yourself

    Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

    • A great starting point for your Legend Biotech research is our analysis highlighting 3 key rewards that could impact your investment decision.
    • Our free Legend Biotech research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Legend Biotech's overall financial health at a glance.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.