Legend Biotech Corporation reported its second quarter 2025 financial results, highlighting significant improvements in key areas. The company achieved an adjusted net income of $10.1 million for the three months ended June 30, 2025, a notable turnaround from an adjusted net loss of $2.5 million in the same period of 2024. License revenue for the quarter was $35.3 million, down from $90.8 million in the previous year, primarily due to the timing of milestone achievements under the Janssen Agreement. However, the decrease was offset by $20.0 million in license revenue recognized under a new exclusive agreement with a related party, compared to no revenue from this source in the prior year. Collaboration revenue saw a significant increase, reaching $219.7 million, up from $93.3 million in the same quarter of 2024. This growth was driven by increased sales of CARVYKTI® in connection with the Janssen Agreement. CARVYKTI® net trade sales were approximately $439 million for the period. The company's cash position remains strong, with cash and cash equivalents, and time deposits totaling $1.0 billion as of June 30, 2025. Legend Biotech anticipates that this financial position will provide a runway into 2026, when the company expects to potentially achieve an operating profit, excluding unrealized foreign exchange gains or losses. In addition to financial updates, Legend Biotech reported positive long-term outcomes for CARVYKTI® in the CARTITUDE-1 study, with one-third of patients remaining progression-free for five years or more. Over 7,500 patients have been treated with CARVYKTI® to date, and new solid tumor data was presented at ASCO.