Legend Biotech Corporation ( (LEGN) ) has released its Q3 earnings. Here is a breakdown of the information Legend Biotech Corporation presented to its investors.
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Legend Biotech Corporation is a leading global cell therapy company specializing in innovative cancer treatments, particularly in the field of CAR-T cell therapy, with its flagship product CARVYKTI® targeting multiple myeloma.
In its third quarter of 2025, Legend Biotech reported significant financial and operational progress, highlighted by strong sales of CARVYKTI®, which achieved net trade sales of approximately $524 million. The company also announced regulatory updates and expansion in production facilities to meet growing global demand.
Key financial metrics revealed a substantial increase in collaboration revenue, rising to $261.8 million from $142.8 million in the previous year, driven largely by the success of CARVYKTI® in collaboration with Janssen. Despite a net loss of $39.7 million, this was a marked improvement from the $125.3 million loss in the same quarter of 2024. The company also maintained a strong cash position with $1.0 billion in cash and equivalents.
Strategically, Legend Biotech expanded its global footprint, with CARVYKTI® now available in 14 markets and commercial production initiated in Belgium. The company also launched a new clinical trial, CARTITUDE-10, to further explore CARVYKTI®’s efficacy in newly diagnosed multiple myeloma patients.
Looking ahead, Legend Biotech remains optimistic about achieving CARVYKTI® profitability by the end of 2025 and overall company profitability in 2026, supported by its robust financial position and strategic expansions.