Overview

• Legend Biotech Q3 revenue slightly misses analyst expectations

• Collaboration revenue rises due to CARVYKTI sales under Janssen Agreement

• Company maintains $1.0 bln cash position, supporting operations beyond 2026

Outlook

• Legend Biotech expects CARVYKTI profitability by year-end 2025

• Company anticipates company-wide profitability in 2026

• Commercial production in Belgium to support global demand in H1 2026

Result Drivers

• CARVYKTI DEMAND - Strong demand for CARVYKTI driven by survival benefit data and label updates, per CEO Ying Huang

• PRODUCTION EXPANSION - Initiated CARVYKTI commercial production at Tech Lane facility in Belgium to support global demand

• COLLABORATION REVENUE GROWTH - Increase in collaboration revenue due to CARVYKTI sales under Janssen Agreement

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Legend Biotech Corp is $74.00, about 56.7% above its November 11 closing price of $32.03

• The stock recently traded at 154 times the next 12-month earnings vs. a P/E of 279 three months ago

Press Release: ID:nGNX3QJb6c

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)