Legend Biotech Plans Second Stock Listing Hong Kong, Singapore, London

Legend Biotech Corp., a New Jersey-based clinical-stage biopharmaceutical company focused on cell therapies for oncology, is exploring a secondary stock listing outside the United States, with potential venues including Hong Kong, Singapore, and London. Discussions with potential advisers are ongoing, and a listing in Hong Kong could particularly enhance the company's valuation. The company has demonstrated strong revenue growth, exemplified by $439 million in Q2 sales of its Carvykti therapy, yet it currently faces challenges in profitability. Legend Biotech's shares rose following the news of the potential dual listing, reflecting investor optimism. Analysts generally hold an 'Outperform' rating on the stock, with an average price target indicating significant upside potential. The move responds to strong investor appetite for drugmakers and could further boost Legend Biotech's market presence and valuation.