Overview

* Legend Biotech ( LEGN ) 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 ( LEGN ) 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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Slight $272.30 $272.50

Revenue Miss* mln mln (12

Analysts

)

Q3 EPS -$0.11

Q3 Net -$39.69

Income mln

Q3 -$39.07

Pretax mln

Profit

*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 ( LEGN ) 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:

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(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.)