Legend Biotech’s Q1 2025: Strong CAR-T Sales and Expansion

Legend Biotech Corporation ( (LEGN) ) has released its Q1 earnings. Here is a breakdown of the information Legend Biotech Corporation presented to its investors.

Legend Biotech Corporation, a leader in cell therapy, specializes in developing innovative treatments for cancer, particularly through its CAR-T cell therapy platform. The company is renowned for its product CARVYKTI®, a treatment for multiple myeloma.

In its first quarter of 2025, Legend Biotech reported significant achievements, including robust sales of CARVYKTI® amounting to approximately $369 million and the treatment of over 6,000 patients to date. The company also initiated clinical production at its new facility in Belgium and received regulatory approvals in Europe and Australia, enhancing its global footprint.

Financially, Legend Biotech experienced a notable increase in collaboration revenue, reaching $185.6 million, largely due to its partnership with Janssen. Despite a net loss of $100.9 million, the adjusted net loss improved significantly to $27.0 million, reflecting the company’s strategic focus on expanding its market presence and manufacturing capabilities.

Looking ahead, Legend Biotech is optimistic about achieving profitability by 2026, supported by its strong cash position of $1.0 billion, which is expected to sustain operations into the second quarter of 2026. The company remains committed to expanding its market leadership and delivering innovative therapies to patients worldwide.