Legend Biotech Corp - LEGN STOCK NEWS

Legend Biotech (NASDAQ: LEGN) reported strong financial results for Q4 and full year 2024. CARVYKTI® achieved net trade sales of $334 million in Q4 and $963 million for the full year, with over 5,000 patients treated to date.

Key highlights include initiating commercial production at a Novartis facility and securing Spanish reimbursement approval for CARVYKTI® in second-line plus settings. The company reported $1.1 billion in cash and cash equivalents as of December 31, 2024, providing runway into Q2 2026.

Financial results showed significant growth with collaboration revenue reaching $168.0 million in Q4 2024, up from $79.4 million in Q4 2023. License revenue was $18.3 million in Q4 2024. The company reported a net income of $26.3 million ($0.07 per share) in Q4 2024, compared to a net loss of $144.8 million in Q4 2023.

Legend Biotech (NASDAQ: LEGN), a global leader in cell therapy, has announced it will host an investor conference call on Tuesday, March 11, 2025, at 8:00 am ET to review its fourth quarter and full year 2024 financial results.

During the webcast and conference call, senior leadership will provide an overview of Legend Biotech's quarterly and fiscal year performance. Investors and interested parties can join the live audio webcast via a provided weblink.

A replay of the webcast and the earnings news release will be made available through the Investor Relations section of Legend Biotech's website under the Events and Presentation section approximately two hours after the call concludes.

Legend Biotech (NASDAQ: LEGN), a global cell therapy leader, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. CEO Ying Huang, Ph.D., will deliver company updates at the event in San Francisco on January 14, 2025, at 3:45 p.m. PT. The presentation will be accessible via live audio webcast through Legend's Investor Relations website section, with a replay available approximately 48 hours after the event.

Legend Biotech (NASDAQ: LEGN) announced new results from the Phase 3 CARTITUDE-4 study showing CARVYKTI® achieved significantly higher minimal residual disease (MRD) negativity rates compared to standard therapies in multiple myeloma patients. 89% of evaluable patients achieved MRD negativity with CARVYKTI® after three-year follow-up, versus 38% for standard therapies.

The study evaluated 208 adults receiving CARVYKTI® versus 211 receiving standard therapies. 69% of MRD-evaluable patients achieved negativity by day 56, and sustained MRD-negative ≥CR of at least 12 months was achieved in 52% versus 10% in the standard care arm. CARVYKTI® is now commercially available in five countries and has been used by over 4,500 patients.

Legend Biotech (LEGN) reported Q3 2024 results with CARVYKTI® net trade sales of $286 million, showing 87.6% year-over-year and 53.2% quarter-over-quarter growth. The company initiated commercial production at its new Obelisc facility in Belgium and received multiple regulatory approvals, including China's NMPA approval for fourth-line plus multiple myeloma treatment. Financial highlights include collaboration revenue of $142.8 million, license revenue of $17.1 million, and a net loss of $125.3 million. With $1.2 billion in cash and equivalents, Legend expects financial runway into 2026, anticipating operating profit achievement.

Legend Biotech (NASDAQ: LEGN) has announced an upcoming investor event during the 66th ASH Annual Meeting in San Diego. The live webcast is scheduled for December 8, 2024, at 8:00 p.m. PT (11:00 p.m. ET). CEO Ying Huang and CMO Mythili Koneru will host expert clinicians to discuss updates from the CARTITUDE development program. Investors can access the webcast through a provided weblink or the company's website under Events and Presentation section.

Legend Biotech will present new minimal residual disease (MRD) negativity data from the Phase 3 CARTITUDE-4 trial at the 66th ASH Annual Meeting. The study evaluated CARVYKTI versus standard of care in lenalidomide-refractory multiple myeloma patients who received 1-3 prior therapies. The data shows significantly increased and sustained MRD negativity rates, supporting CARVYKTI as a transformative treatment option. CARVYKTI, the first BCMA-targeted CAR-T cell therapy approved for multiple myeloma after one prior line of therapy, is now available in five countries and has treated over 4,000 patients.

Legend Biotech (NASDAQ: LEGN) has appointed Alan Bash as President of CARVYKTI® in a newly created position. Bash will manage CARVYKTI's continued growth and oversee commercial, technical operations, and quality functions. The appointment follows CARVYKTI's recent FDA and European Commission approvals for label expansion. Bash brings extensive experience as former CEO of ZielBio and Checkmate Pharmaceuticals, plus a 23-year career at Bristol Myers Squibb where he led the U.S. launch of Opdivo® and expansion of other cancer treatments. CARVYKTI is currently the fastest launched CAR-T product on the market.

Legend Biotech (NASDAQ: LEGN) has announced it will host an investor conference call on Tuesday, November 12, 2024, at 8:00 am ET to discuss third-quarter 2024 financial results. Senior leadership will present the company's quarterly performance during the call. Investors can access the live audio webcast through a provided weblink, with a replay and earnings release available on the company's Investor Relations website approximately two hours after the call.