Rise in second-quarter revenue by 36% for Legend Biotech reported
Legend Biotech Corp. Posts Record Q2 2025 Results with CARVYKTI® Leading the Way
Legend Biotech Corp., a leading biotech company specialising in CAR-T cell therapies, has announced impressive financial results for Q2 2025. The company's star drug, CARVYKTI®, a treatment for multiple myeloma, contributed significantly to these results.
In a remarkable achievement, CARVYKTI® net trade sales reached an all-time high of $439 million in Q2 2025, marking the best quarterly performance for any CAR-T therapy to date. This strong performance, coupled with collaboration and license revenue, propelled Legend Biotech's total revenue to $255.1 million, a 36% year-on-year increase.
Collaboration revenue, which involves partnerships with other drug companies, more than doubled to $219.7 million in Q2 2025. However, licensing revenue saw a 61% year-on-year decline to $35.3 million in the same period.
Despite the significant revenue growth, the company reported an adjusted net income of $10.1 million, a stark improvement from the loss of $2.5 million in Q2 2024. However, the earnings per share (EPS) was a loss of $0.34, indicating ongoing investment and expenses.
The company's financial announcement also highlighted compelling clinical data from the five-year CARTITUDE-1 study. One-third of multiple myeloma patients treated with CARVYKTI remain progression-free, a testament to the drug's durability and potential to transform standard care for relapsed and refractory multiple myeloma.
Regulatory progress was also noted, with the US FDA removing certain monitoring requirements and Risk Evaluation and Mitigation Strategies (REMS) for CARVYKTI. This move may facilitate broader patient access to the life-saving therapy.
Looking ahead, Legend Biotech expects to achieve overall operating profitability in 2026, with pipeline expansion and regulatory enhancements supporting growth.
As of Monday, Legend Biotech Corp.'s stock has seen an approximately 11% increase this year. However, the stock fell 2.1% on Monday following the Q2 2025 financial announcement.
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[1] Legend Biotech Corp. Press Release, Q2 2025 Financial Results. [2] Legend Biotech Corp. Investor Relations, Q2 2025 Financial Results Presentation. [3] Legend Biotech Corp. Securities and Exchange Commission Filing, Q2 2025 Form 10-Q.
- The impressive growth in Legend Biotech Corp.'s net trade sales for Q2 2025, driven by the success of CARVYKTI®, a treatment for multiple myeloma, demonstrates the potential of science and investing in healthcare and medical-conditions, such as cancer.
- Despite the recorded revenue growth, Legend Biotech Corp.'s adjusted net income for Q2 2025 indicated ongoing investment and expenses in their business, highlighting the finance and investment risks associated with the biotechnology sector.
- The financial performance of Legend Biotech Corp., coupled with positive clinical data and regulatory advancements for CARVYKTI, positions the company for potential growth in the future, making it an interesting opportunity for investors focused on the healthcare, biotech, and innovation sectors.
