Leaked data reveals impressive results for J&J and Legend's Carvykti in multiple myeloma treatment.

Johnson & Johnson's CAR-T therapy, Carvykti, developed in partnership with Legend Biotech, has shown a 74% reduction in the risk of multiple myeloma progression or death, according to leaked abstract data. The results could put Carvykti ahead of competitor Abecma, developed by Bristol Myers Squibb and 2seventy bio, in earlier lines of treatment if and when it's approved for those indications. The study's results surprised analysts, with a Cowen analyst describing it as "game-changing efficacy," and sent Legend's shares 14% higher after Wednesday's opening bell.