GenScript denies data fraud claims, engages legal counsel

GenScript Biotech Corp. (HKSE:1548) recovered about HK$2.5 billion ($319.3 million) in market cap Sept. 28 after denying all allegations published in a report by short seller Flaming Research.

The biotech lost about HK$8 billion ($1 billion) in market cap on Sept. 27 after the report accused GenScript and its Legend Biotech units of manipulating data and concealing safety issues during the clinical development of CAR T therapy LCAR-B38M (JNJ-68284528) (see "Short Seller Accuses GenScript of CAR T Data Fraud")...