Stocks

[gozalim]

If there's no pop on Monday, I’m holding onto LEGN because I expect it to rise over time. 

specific time horizon?

[ckmk47]

no idea

[aygart]

The drug is new; not a new use for an old drug. For myeloma. The study results were exciting to oncologists. 
I think the FDA announcement was before the market close on Friday. But the stock is still down.
If there's no pop on Monday, I’m holding onto LEGN because I expect it to rise over time. 
A)This drug will likely have a market - note the oncologists reaction.
B)LEGN partnered with Bristol Meyers Squib to develop this drug.  Maybe BMS will buy them out completely over the next while.

Was there another one besides Carvykti that was approved? Carvykti is together with J&J and has had some approvals since 2022.

[madhocker]

This only applies to small companies who have few, if any, products besides the new drug.
My observation has been that there's a surge of excitement and stock buying when the committee recommends that a drug be approved.  Then there's a cooling and the price drops a bit.  Then, when it's actually approved it goes back up again.
Then it often drops as the reality sets in: production costs, breadth of patients, cost/ insurance approval, etc.
I understand your question and can't really answer, but the price usually/ often rises after approval.
The questions: how much? for how long?
Often the highest price is right after the market opens, and then is softens over the day.  But NOT always.

Doesn't seem like much excitement generated from this decision... If you are in calls beware of decay

[Mf1]

https://markets.businessinsider.com/news/stocks/legend-biotech-legn-gets-a-buy-from-piper-sandler-1033229873
Maybe this is reason for today's rise

[madhocker]

Looking like LEGN was a bust for the short term ... @ckmk47 you still holding?

[ckmk47]

Yes!
The market is down so it’s lost more than I would have guessed.
But the drug has been approved and has oncologists hopeful; when it actually hits the market it will have sales.   Which will potentially make the company a profit.
So the company be bought out, which will give us a profit in a shorter time frame.