FAST NEWS: Legend Biotech Plans $250 Million ADS Public Offering

The latest: Genscript Biotech Corp. (1548.HK) announced its New York-listed subsidiary, Legend Biotech Corp. (LEGN.US), plans to conduct a public offering of $250 million worth of American Depository Shares (ADS). In addition, Legend Biotech has granted underwriters options to purchase up to $37.5 million in additional ADS in a subsequent public offering. Looking up: The proceeds received by Legend Biotech in the public offering are expected to be used to invest in the clinical development of CAR-T cell therapy product cilta-cel, the commercialization of myeloma treatment drug CARVYKTI, the construction…

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Buoyed by Bumper Profits, WuXi Biologics Seeks to Bolster Global Supply Chain

Drugs services provider WuXi Biologics has issued a positive earnings alert for the first half of the year, predicting revenue would rise by up to 63% and net profit would jump as much as 37% Key Takeaways: The provider of outsourced pharmaceutical services has delivered on bullish market hopes of rapid earnings growth It plans to invest around $1.44 billion in a new research and production hub in Singapore to strengthen its global supply network By Molly Wen After months in the doldrums, medical stocks have bounced back to life…

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SolarMax Banks on Sunny Name to Draw Investors to Its IPO

The builder of solar farms in China and rooftop solar systems in the U.S. is seeking to raise $30 million in a New York listing Key Takeaways: Solar power systems developer SolarMax is aiming to raise $30 million in a New York listing, but investors could balk at the company’s lack of diversity The IPO marks the latest signal that Chinese listings could soon gain momentum in New York after a yearlong near-halt due to regulatory concerns in the U.S. and China By Doug Young   Its name may sound…

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