Nasdaq Legn – Initial Public Offering Blows The Past Expectations
Are you ready to make an investment in biopharmaceutical company? Then look no further. You should know about the company Legend Biotech (Nasdaq legn at https://www.webull.com/quote/nasdaq-legn). They are looking to raise the 100 million dollars in an initial public offering. They hope to be listed on the Nasdaq, and they are still early in the IPO process. They have not established a price range for the shares they plan to sell. Want to know more about the company stock, keep on reading the upcoming sections.
About the company
It is the global clinical-stage biopharmaceutical company that has been engaged in discovering as well as developing novel cell therapies for oncology and some other indications. They announced the closing of their initial public offering. The offering is about 21,188,750 ADSs. It will be representing the two shares. One is the public offering, which ranges from 23.00 dollars per ADS.
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Great time for their IPO
You have to know that they(Nasdaq legn) have developed cell-based cancer therapy, which intended to raise over 350 million dollars. But the investors are eagerly waiting to invest in the economy, which is not affected by the coronavirus pandemic and pushed the company’s haul up to 424 million dollars. But they do not have any products to sell. They may perhaps launch a chimeric antigen receptor T cell therapy known as JNJ-4528 along with the partnership with Johnson & Johnson company.
The company (Nasdaq legn) receives milestone payments as well as heaps of royalties. Johnson & Johnson has injected over 460 million dollars in the form of milestone payments. Even the small companies will be eligible to gain up to 1.34 billion dollars and more if the therapy passes a regulatory as well as commercial milestones. Hence when the therapy got approval, the partners will be sharing the commercialization and the development costs. Now investors can do online stock trading for these stocks. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.