Legend Biotech Corp SEC Filings

Legend Biotech Corp (LEGN) Form 144 summary: An insider plans to sell 474 American Depositary Shares on 09/23/2025 through Fidelity Brokerage Services. The shares were acquired on 09/19/2025 by Restricted Stock Vesting and were paid as compensation. The aggregate market value of the proposed sale is listed as $16,106.85, with the issuer's outstanding shares shown as 367,298,315. The filing also discloses a prior sale by the same person: 642 ADS sold on 07/23/2025 for $28,890.00. The filer certifies they are not aware of undisclosed material adverse information about the issuer.

Form 144 notice for Legend Biotech Corp (LEGN) reports a proposed sale of 307 American Depositary Shares (ADSs) with an aggregate market value of $10,438 and approximately 367,298,315 ADSs outstanding. The securities were acquired on 09/20/2025 through restricted stock vesting from the issuer and the stated nature of payment is compensation. The approximate date of sale listed is 09/23/2025. The filer also disclosed a prior sale on 06/24/2025 of 307 ADSs by Corazon D. Sanders for gross proceeds of $10,551.59. Several standard filing fields (issuer name, filer CIK/CCC, and contact details) appear blank in the provided content.

Legend Biotech disclosed termination and severance terms for Mr. Santos in an employment agreement. If termination triggers the shorter package, Mr. Santos would receive 12 months of base salary, the prior-year bonus if unpaid, a pro-rated portion of the target bonus for the termination year, COBRA reimbursements for up to 12 months, acceleration of any equity awards that would vest within the following 12 months (subject to any corporate performance goals), and a post-termination option exercise window extended to 12 months.

Under an enhanced package, Mr. Santos would receive 18 months of base salary, the prior-year bonus if unpaid, the full target bonus for the year of termination, COBRA reimbursements for up to 18 months, immediate full acceleration of all unvested equity awards without regard to performance, and an extended option exercise period of 18 months.

Legend Biotech reported total revenue of $255.1 million for the three months ended June 30, 2025 and $450.1 million for the six months, driven primarily by collaboration revenue (CARVYKTI) which rose to $219.7 million in Q2 and $405.3 million for H1. License revenue fell year-over-year due to timing of Janssen milestones, with license revenue of $35.3 million in Q2 versus $90.8 million a year earlier.

The company recorded a wider net loss of $125.4 million in Q2 and $226.3 million for H1; the MD&A attributes a large portion of the deterioration to unrealized foreign exchange losses (other expense of $108.1 million in Q2, $162.6 million in H1). Liquidity remains substantial with $266.6 million cash and $701.0 million time deposits (~$1.0 billion total). Management also reports CARVYKTI net trade sales of approximately $439 million and over 7,500 patients treated. Adjusted net income (non-IFRS) was $10.1 million in Q2 (ANI per share $0.03), illustrating the impact of excluding unrealized FX and certain non-cash items.