08:22 AM EDT, 04/08/2024 (MT Newswires) -- Johnson & Johnson ( JNJ ) and Legend Biotech ( LEGN ) said the US Food and Drug Administration has approved Carvykti to treat adults with relapsed or refractory multiple myeloma who have received at least one prior line of therapy.

In 2017, Legend entered into a worldwide license and collaboration agreement with JNJ unit Janssen Biotech to develop and commercialize Carvykti.

The FDA's approval is based on results from a phase 3 study that showed that the earlier use of Carvykti reduced the risk of disease progression or death by 59% compared with standard therapies.

Legend shares were up nearly 2% in recent premarket activity, while Johnson & Johnson ( JNJ ) was little changed.

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