J&J, 2seventy bio fall after US FDA raises concerns over CAR-T therapy data

2Seventy Bio

13/03/2024 14:52

** Shares of Johnson & Johnson  JNJ.N  drop as much as 1.8%,
while 2seventy bio  TSVT.O  slumps as much as 11.7%
    ** FDA staff reviewers raise safety concerns that it was
unclear if cancer cell therapies by Johnson & Johnson  JNJ.N 
with partner Legend Biotech  LEGN.O  and Bristol Myers Squibb
 BMY.N  with partner 2seventy bio  TSVT.O  would benefit blood
cancer patients when given as early treatments
    ** Staff reviewers said that the pattern of early deaths
observed in patients treated with both therapies in their
respective trials raised uncertainty about their overall
survival benefit
   ** The therapies - J&J/LEGN's Carvykti and BMY/TSVT's Abecma
- are approved by the FDA to treat patients with multiple
myeloma who have received at least four prior lines of treatment
    ** The comments were made in briefing documents prepared
ahead of a meeting of the FDA's independent advisers on Friday
    ** Shares of LEGN up 1.7%, while BMY shares rise marginally
    ** YTD, JNJ has risen by 2.9%, TSVT has seen a marginal
increase, LEGN has gained 11.3%, while BMY has increased by
6.55%

 (Reporting by Sriparna Roy and Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))