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Legend Biotech Corporation (LEGN) reports an updated clinical pipeline focused on cell therapies across oncology and autoimmune diseases. The update highlights CARVYKTI, a BCMA-directed autologous therapy developed in collaboration with Janssen, which is listed under NDA status with multiple front-line newly diagnosed multiple myeloma trials (CARTITUDE-5, -6 and -10) in patient follow-up or enrolling. Additional autologous programs include LB1908 for relapsed/refractory gastric and pancreatic cancers and LB2102 for second-line and later small cell lung cancer and large cell neuroendocrine carcinoma, each having met primary endpoints and in patient follow-up. The pipeline also details early-stage autologous, allogeneic and in vivo candidates such as LB2401–LB2406, LB2501, LB2503 and LB2505 for multiple myeloma, B-cell non-Hodgkin lymphoma and autoimmune indications, with several investigator-initiated trials in China and multiple U.S. INDs cleared by the FDA.
Legend Biotech Corp (LEGN) reported that Interim CEO Alan Bash received a grant of 4,908 restricted share units (RSUs) on August 14, 2026. These RSUs convert into ordinary shares on settlement, increasing his direct holdings to 35,142 ordinary shares. The RSUs vest in three equal annual installments on July 27, 2027, 2028, and 2029, subject to continued service. Each ordinary share may also be represented by American Depositary Shares, with one ADS equal to two ordinary shares.
Legend Biotech Corporation (LEGN) has called its Annual General Meeting for September 24, 2026 in Bridgewater, New Jersey. Shareholders of record as of August 17, 2026 may vote, with 388,976,826 Ordinary Shares outstanding, including 184,208,310 Ordinary Shares represented by ADSs, each ADS equal to two Ordinary Shares.
Key items include receiving the audited consolidated financial statements for 2025, ratifying Ernst & Young LLP as independent auditor for 2026, and re-electing four Class III directors (Robin Meng, Corazon D. Sanders, Li Mao and Peter Salovey) for new three-year terms. A major proposal seeks approval of an amended and restated 2020 Restricted Shares Plan to increase the equity reserve by 19,100,000 Ordinary Shares, from 26,000,000 to 45,100,000, which the company characterizes as 4.9% of total Ordinary Shares outstanding as of the record date.
As of June 30, 2026, 12,533,517 Ordinary Shares were subject to outstanding full-value awards under the RSU plan and 5,257,658 Ordinary Shares remained available for future grants. The company reports a 2025 equity award burn rate of 1.23% and indicates the additional 19,100,000 shares are intended to support expected hiring and retention over approximately the next two to four years. The board recommends voting "FOR" all eight proposals and plans to file an additional Form S-8 to register the added RSU plan shares if Proposal 7 is approved.
Legend Biotech reported strong second-quarter 2026 growth driven by CARVYKTI, moving to profitability for the quarter. Total revenue for the three months ended June 30, 2026 rose to $387.5 million from $255.1 million, led by collaboration revenue of $326.1 million from higher CARVYKTI sales and milestones of $56.0 million under the Janssen agreement. Operating income reached $57.7 million versus a prior-year loss, and net income was $33.2 million, compared with a $125.4 million loss.
For the first six months, revenue increased to $692.6 million, with collaboration revenue of $624.5 million. The company still posted a six‑month net loss of $21.1 million, but Adjusted net income was $52.8 million. Cash, cash equivalents and time deposits totaled about $965 million as of June 30, 2026, supported by a June equity offering raising net proceeds of $212.4 million. Legend reduced collaboration funding advances from Janssen to a current liability of $156.4 million and expects full recoupment within 12 months, while continuing to invest heavily in R&D and commercial expansion.
Legend Biotech Corporation has set specific compensation terms for Interim Chief Executive Officer Alan Bash, who was appointed effective July 24, 2026. The board’s compensation committee approved cash pay at a bi-weekly rate of $12,019, effective July 27, 2026, for as long as he serves in this interim role. This cash compensation is in addition to the pay he already receives as President of the CARVYKTI Business Unit.
The committee also approved a one-time grant of restricted stock units valued at $50,000 on the August 14, 2026 grant date. These RSUs vest over a three-year period, with one-third vesting on each of the first, second and third anniversaries of July 27, 2026, subject to his continued service. Legend Biotech states that this information is incorporated by reference into its existing registration statements on Form F-3 and Form S-8.
FMR LLC and Abigail P. Johnson report significant ownership of Legend Biotech Corp common stock on a Schedule 13G/A (Amendment No. 9). FMR LLC reports beneficial ownership of 57,996,198.37 shares of common stock, representing 15.0% of the class. FMR LLC has sole voting power over 57,130,912.36 shares and sole dispositive power over 57,996,198.37 shares, with no shared voting or dispositive power. Abigail P. Johnson reports sole dispositive power over the same 57,996,198.37 shares, also representing 15.0% of the class, and no voting power. One or more other persons may receive dividends or sale proceeds from these securities, but no other person has an interest exceeding five percent of the outstanding common stock.
Legend Biotech Corp’s interim CEO, Alan Bash, reports initial beneficial ownership of 30,234 ordinary shares, held directly. This amount includes 13,092 restricted share units (RSUs) for which performance criteria have been satisfied and that are scheduled to vest on 12/20/2026, subject to his continued service. Each RSU represents a contingent right to receive one ordinary share, and each American Depositary Share represents two ordinary shares.
Legend Biotech Corporation disclosed that Chief Executive Officer Ying Huang resigned from his roles as CEO and board member, effective July 24, 2026. He is expected to continue as an advisor through August to support a smooth transition, and the resignation is stated not to result from any disagreement regarding operations, policies, practices, financial statements, or internal controls over financial reporting.
On July 23, 2026, the board appointed Alan Bash as Interim Chief Executive Officer and interim principal executive officer, effective as of the same effective date. Bash has led CARVYKTI as President since October 2024 and previously held senior roles at ZielBio, Checkmate Pharmaceuticals, and Bristol Myers Squibb. The company notes there is no arrangement or understanding under which he was selected, no related party transactions with him requiring disclosure, and no family relationships with current directors or executive officers.
Legend Biotech reports preliminary commercial performance for CARVYKTI® under its collaboration with Janssen. Based on data provided by Janssen, CARVYKTI® generated approximately $657 million in net trade sales for the quarter ended June 30, 2026. This figure has not been independently verified by Legend Biotech, and the final amount of revenue and gross profit to be recognized in Legend Biotech’s financial statements will be determined after management completes the preparation of its results for the period. Legend Biotech’s independent registered public accountants have not audited, reviewed or performed procedures on this sales data.
The company includes forward-looking statements about expectations for CARVYKTI® net trade sales and resulting gross profit, noting that actual results may differ materially due to factors such as drug development risks, unexpected clinical or regulatory outcomes, partner actions, intellectual property challenges including U.S. litigation, competition, and pricing and political pressures. These risks are further described in the Risk Factors section of Legend Biotech’s Annual Report on Form 20-F filed on March 10, 2026. This report is also incorporated by reference into Legend Biotech’s existing Form F-3 and Form S-8 registration statements, to the extent not superseded by later filings.
Legend Biotech Corp director Casey Patrick John sold 6,000 Ordinary Shares in an open-market transaction. The sale took place at $14.80 per ordinary share, equivalent to $29.60 per American Depositary Share, with each ADS representing two ordinary shares. After this trade, he directly holds 48,604 Ordinary Shares, indicating he retains a substantial ongoing equity position in the company.