Legend Biotech Corporation (LEGN)
NASDAQ:LEGN
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Earnings Data
Report Date
May 19, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.01Last Year’s EPS
-0.27Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive picture: substantial top-line growth (CARVYKTI sales +66% YoY), improving operating leverage, positive adjusted profitability, strong long-term clinical data (median PFS 50.4 months in a key subgroup), expanding manufacturing capacity and a large treated patient base (>10,000). Key risks highlighted include class-related neurotoxicity that requires effective bridging strategies, higher out-of-spec rates in heavily pretreated patients, competitive/regulatory uncertainty, and the need to convert low current BCMA penetration into broader adoption. On balance, the operational progress, clinical differentiation and financial trajectory outweigh the manageable challenges.Company Guidance
Strong CARVYKTI Sales Growth
CARVYKTI net trade sales were approximately $555 million in Q4 2025, up 66% year-over-year and 6% quarter-over-quarter; U.S. net trade sales were $420 million (up 38% YoY, 6% QoQ) and ex-U.S. sales were $135 million (over threefold YoY, 5% QoQ).
Robust Overall Revenue and Margins
Company revenue for the quarter was $306 million, a 64% year-over-year increase. Gross margin remained strong at 61% overall, with a 57% gross margin on CARVYKTI net product sales; gross margins have stabilized at ~57% in recent quarters.
Operating and Adjusted Profitability Trajectory
Operating margin improved from -142% in Q2 2023 to -6% in Q4 2025. Operating loss narrowed to approximately -$20 million (a 75% improvement YoY). Adjusted net income turned positive at $2.5 million (vs. a $59 million adjusted net loss prior-year) and adjusted diluted EPS was $0.01 (vs. -$0.15 prior-year).
Large Patient Base and Global Footprint
More than 10,000 multiple myeloma patients have been treated with CARVYKTI. The therapy is available at 294 global treatment sites across 14 markets; in the U.S., 145 authorized centers (with community hospitals comprising about one-third) and ~80% of patients live within 50 miles of a treatment site.
Manufacturing Capacity and Success Rates
Installed capacity supports annual production of 10,000 doses across the manufacturing network with plans and partner J&J backing to expand capacity toward ~20,000 doses. Commercial manufacturing data (Jul 2024–Oct 2025) showed ~99% products successfully manufactured overall, with out-of-spec rates of ~6.5% for patients with 1–3 prior lines and ~9.2% for 4+ prior lines; company reports continuous improvement.
Compelling Long-Term Clinical Data
CARTITUDE analyses showed durable responses: triple-class exposed MM patients with 3 prior lines achieved median PFS of 50.4 months after a single CARVYKTI infusion. CARTITUDE-4 standard-risk patients: 80% progression-free and off treatment at 2.5 years; of those progression-free at 1 year, 93% remained progression-free and alive at 2.5 years.
Pipeline and Development Momentum
Advanced programs beyond CARVYKTI: LUCAR-G39D (allogeneic gamma delta CAR-T) demonstrated manageable safety and encouraging activity; first in vivo CAR-T program moved from candidate selection to first patient dosing in ~6 months. Company expects 1–2 U.S. INDs by year-end and plans to present in vivo clinical data potentially mid-year 2026.
Balance Sheet and Cash Position
Ended the year with $949 million in cash, cash equivalents and time deposits. Operating cash flow outlay improved to $12 million this quarter versus $82 million outlay in the prior-year period, providing optionality to invest in in vivo programs, BD and capacity expansion.
Commercial Adoption Trends Favor Earlier Lines
Approximately 65% of CARVYKTI patients are now being treated in the second through fourth line setting, outpatient administration accounts for ~50% of prescribing volume, and the fastest growth continues in second and third line segments—supporting the company's focus on earlier-line penetration.
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
LEGN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 10, 2026 | $19.14 | $19.56 | +2.19% |
Nov 12, 2025 | $32.03 | $31.18 | -2.67% |
Aug 11, 2025 | $37.00 | $36.24 | -2.05% |
May 13, 2025 | $32.38 | $31.08 | -4.01% |
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.
FAQ
When does Legend Biotech Corporation (LEGN) report earnings?
Legend Biotech Corporation (LEGN) is schdueled to report earning on May 19, 2026, After Close (Confirmed).
What is Legend Biotech Corporation (LEGN) earnings time?
Legend Biotech Corporation (LEGN) earnings time is at May 19, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is LEGN EPS forecast?
LEGN EPS forecast for the fiscal quarter 2026 (Q1) is 0.01.