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Legend Biotech Corporation (LEGN)
:LEGN
Earnings Data
Report Date
May 14, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.21Last Year’s EPS
-0.16Same Quarter Last Year
Strong Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 11, 2025
|% Change Since: 4.00%
|Next Earnings Date:May 14, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong revenue growth, market expansion, and improved financial performance for CARVYKTI. There were also significant advancements in manufacturing and pipeline development. However, some challenges remain, including supply constraints in Europe and ongoing efforts to address neurotoxicity. Overall, the positive aspects significantly outweigh the challenges.Company Guidance
During the Legend Biotech earnings call for the fourth quarter and full-year 2024, the company provided detailed guidance on its financial and operational outlook. Legend Biotech reported net trade sales of $334 million for CARVYKTI in Q4, reflecting a 110% increase year-over-year and a 17% increase from the third quarter. The company aims to achieve operational breakeven for CARVYKTI by the end of 2025 and company-wide profitability in 2026. The FDA's approval of the Novartis facility for commercial production in New Jersey and the anticipated initiation of clinical production at Tech Lane in Belgium are expected to support capacity expansion. Legend Biotech is targeting to double CARVYKTI's supply by 2025, driven by these expansions. Ex-U.S. sales in Q4 reached $31 million, marking a 138% increase year-over-year. Additionally, the company emphasized the growing adoption of outpatient administration, which accounted for over 50% of CARVYKTI's volume, and the expectation for this to become the majority by the end of the year. The company reiterated its commitment to bringing CARVYKTI to eligible patients in the U.S. and Europe, while also highlighting the ongoing clinical trials and pipeline developments aimed at long-term growth.Significant Revenue Growth for CARVYKTI
Net trade sales of CARVYKTI were approximately $334 million in Q4, a 110% increase year-over-year and a 17% increase from Q3.
European Expansion and Reimbursement
CARVYKTI recently received approval for reimbursement in Spain, with ongoing capacity expansion in Europe to meet increasing demand.
Manufacturing Expansion
FDA approved the Novartis facility for commercial production of CARVYKTI in New Jersey, with plans to initiate commercial production at Tech Lane in Belgium later this year.
Strong Demand and Market Penetration
CARVYKTI's market share is increasing with 60% usage in the second through fourth line population, supported by community and academic outreach.
Positive Financial Performance
Net profit for Q4 was $26 million, compared to a net loss of $145 million in the same period last year. The increase was driven by an unrealized foreign exchange gain of $110 million.
Pipeline and Research Expansion
Legend Biotech is building out its pipeline with new programs in blood cancers, solid tumors, and autoimmune diseases, supported by a new research facility in Philadelphia.
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LEGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LEGN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 11, 2025 | $34.03 | $37.19 | +9.29% |
| Nov 12, 2024 | $40.04 | $40.18 | +0.35% |
| Aug 09, 2024 | $56.91 | $55.90 | -1.77% |
| May 13, 2024 | $43.24 | $42.97 | -0.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Legend Biotech Corporation (LEGN) report earnings?
Legend Biotech Corporation (LEGN) is schdueled to report earning on May 14, 2025, TBA Not Confirmed.
What is Legend Biotech Corporation (LEGN) earnings time?
Legend Biotech Corporation (LEGN) earnings time is at May 14, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LEGN EPS forecast?
LEGN EPS forecast for the fiscal quarter 2025 (Q1) is -0.21.
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