Yahoo Finance

• Net Trade Sales of CARVYKTI: $334 million in Q4 2024, a 110% increase year-over-year and a 17% increase from Q3.

• OUS Sales: $31 million, a 138% increase year-over-year and 15% quarter-over-quarter.

• Total Revenues: $187 million for Q4 2024.

• Net Profit: $26 million or $0.07 per share for Q4 2024.

• Collaboration Cost of Revenue: $69 million for Q4 2024, up from $32 million in the same period last year.

• Research and Development Expenses: $104 million for Q4 2024, compared to $106 million in the same period last year.

• Administrative Expenses: $34 million for Q4 2024, up from $29 million in the same period last year.

• Selling and Distribution Expenses: $49 million for Q4 2024, up from $34 million in the same period last year.

• Adjusted Net Loss: $59 million or $0.16 per share for Q4 2024.

• Cash and Equivalents: $1.1 billion at the end of 2024.

• Warning! GuruFocus has detected 3 Warning Signs with LEGN.

Release Date: March 11, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Legend Biotech Corp (NASDAQ:LEGN) reported a 110% year-over-year increase in net trade sales of CARVYKTI, reaching approximately $334 million in the fourth quarter of 2024.

• CARVYKTI has demonstrated a unique clinical profile, being the first and only CAR-T therapy in multiple myeloma to show a survival benefit versus standard of care.

• The company has expanded its manufacturing capacity, with the FDA approving the Novartis facility in New Jersey for commercial production of CARVYKTI.

• Legend Biotech Corp (NASDAQ:LEGN) has successfully increased the number of certified hospitals in the US to 102, enhancing its treatment reach.

• The company is on track to achieve operational breakeven for CARVYKTI by the end of 2025 and anticipates company-wide profitability in 2026, excluding unrealized foreign exchange gains or losses.

Negative Points

• Legend Biotech Corp (NASDAQ:LEGN) reported a net profit primarily driven by an unrealized foreign exchange gain, indicating potential volatility in financial results due to currency fluctuations.

• Research and development expenses remained high at $104 million for the fourth quarter, reflecting ongoing costs associated with pipeline development.

• The company faces competition from upcoming BCMA bispecifics, which could impact CARVYKTI's market share in the future.

• Despite strong sales growth, the company is still in a supply-constrained environment in Europe, which could limit revenue potential.

• Legend Biotech Corp (NASDAQ:LEGN) is investing heavily in expanding its manufacturing capacity, which could strain financial resources if demand projections are not met.