Legend Biotech Corporation

Latest Results (13.05.2026):

Legend Biotech Corporation — First Quarter 2026: The company reported strong commercial momentum driven by CARVYKTI® (ciltacabtagene autoleucel), with CARVYKTI net trade sales of approximately $597 million (up 62% year‑over‑year). Total revenue was $305.1 million for Q1 2026, collaboration revenue rose to $298.4 million, and adjusted net loss narrowed to $10.5 million. Legend ended the quarter with cash and time deposits of $834.6 million and continues to expand CARVYKTI’s global availability and manufacturing performance.

Commercial performance

CARVYKTI net trade sales ~$597M in Q1 2026, +62% YoY (U.S. +36%, ex‑U.S. +222%). Product now available at >300 sites across 18 global markets after launches in Italy, Poland, the Czech Republic and Australia.

Revenue and profitability

Total revenue $305.1M (Q1 2026) vs $195.0M (Q1 2025). Collaboration revenue $298.4M vs $185.6M. Operating loss improved slightly to $49.8M (from $51.7M). Net loss narrowed to $54.3M (Q1 2026) from $101.0M (Q1 2025); adjusted net loss improved to $10.5M from $27.0M.

Costs and expense dynamics

Cost of collaboration revenue rose to $175.4M (vs $69.5M) reflecting Legend’s share of CARVYKTI cost of sales under the Janssen agreement plus one‑time expansion and depreciation costs. R&D declined to $85.7M (from $101.9M); admin and selling & distribution increased to $40.0M and $50.1M, respectively.

Cash, liquidity and cash flow

Cash and cash equivalents plus time deposits were $834.6M as of March 31, 2026 (cash and cash equivalents presented as $646.4M). Company believes this provides runway beyond 2026. Q1 cash flow showed a net decrease in cash and cash equivalents of $255.5M.

Operational / manufacturing progress

Manufacturing metrics improved: success rate increased to 99%, turnaround times decreased, and >95% on‑time order releases during Q1 2026, supporting scaling of commercial supply.

Partnerships, milestones and outlook

Legend recognized $55M in milestone payments in April 2026 related to the Janssen Agreement. The company expects multiple early‑stage data presentations in 2026 and states it believes it will achieve company‑wide profitability (Adjusted Net Income) in 2026 assuming current trends continue.

Balance sheet snapshot

As of March 31, 2026: total assets $1,596.7M, total liabilities $629.0M, total equity $967.7M. Weighted average shares outstanding ~370.2M; basic/diluted loss per share $0.15 for Q1 2026.