Legend Biotech reports Q3 EPS (17c), consensus (59c)

Reports Q3 revenue $96.01M, consensus $97.28M. As of September 30, 2023, Legend Biotech had approximately $1.4 billion of cash and cash equivalents, time deposits, and short-term investments. “We continuously explore the full potential of our products and technologies. The out-license agreement with Novartis affirms that our next-generation therapy, LB2102, has the potential to be a differentiated treatment for eligible patients with small cell lung cancer,” said Ying Huang, Chief Executive Officer of Legend Biotech. “We also remain committed to meeting the demand for CARVYKTI(R), in collaboration with Janssen, and have progressively increased manufacturing capacity, which has led to an incremental increase in sales.”