Legend Biotech reports Q2 EPS (5c), consensus (38c)

Reports Q2 revenue $186.5M, consensus $126.59M. Cash and cash equivalents, time deposits, and short-term investments were $1.3B as of June 30. “In Q2, approval of CARVYKTI in the second line increased demand and interest from patients and the healthcare community. Momentum for CARVYTKI is growing and we are excited to see it helping not only later line patients, but an increasing number of earlier line patients. I am encouraged by the progress we have been making in both the inpatient and outpatient settings, enabling more patients to receive our transformative one-time treatment,” said CEO Ying Huang. “We look forward to starting commercial production at our Obelisc facility in Belgium later this year in order to meet the growing demand, and we remain laser-focused on increasing our manufacturing capacity.”