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Legend Biotech Corporation (LEGN)
NASDAQ:LEGN
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.25Last Year’s EPS
-$0.4Same Quarter Last Year
Strong Buy
Based on 16 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -18.08%
|Next Earnings Date:Mar 13, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant achievements, particularly the impressive revenue growth and survival benefit of CARVYKTI, along with expansion into new markets and manufacturing capabilities. However, these were tempered by increased net losses and foreign exchange challenges. The sentiment leans towards optimism due to strong product performance and strategic advancements.Company Guidance
During the Legend Biotech Q3 2024 earnings call, the company provided comprehensive guidance on several key performance metrics. CARVYKTI, their leading CAR-T therapy, demonstrated substantial growth with a 53% quarter-over-quarter increase and an 87% year-over-year rise. Net trade sales for the quarter reached approximately $286 million. The company highlighted the CARTITUDE-4 trial outcomes, where CARVYKTI reduced the risk of death by 45% in the second-line plus patient population. International expansion was also notable, with commercial approval in China for fourth-line plus treatment and production approval at their Ghent, Belgium facility. Additionally, they reported an 87.6% increase in net sales year-over-year and announced the appointment of Alan Bash as President of the CARVYKTI business unit. The company maintains a strong financial position with $1.2 billion in cash and equivalents and expects to achieve operating profitability by 2026.CARVYKTI Revenue Growth
CARVYKTI's net trade sales in the third quarter were approximately USD 286 million, an 87.6% increase year-over-year and a 53.2% increase quarter-over-quarter.
Regulatory Approvals and Market Expansion
CARVYKTI received approval from China's National Medical Products Administration for fourth-line plus treatment. Additionally, commercial production was approved at the Obelisc facility in Ghent, Belgium.
Overall Survival Benefit in CARTITUDE-4 Trial
CARVYKTI achieved a 45% reduction in the risk of death compared to standard therapies after a 3-year follow-up in the CARTITUDE-4 trial, marking it as the first and only cell therapy to significantly extend overall survival in second-line plus multiple myeloma patients.
Outpatient Treatment Adoption
Outpatient treatment for CARVYKTI now comprises up to 48% of volume, offering a significant growth opportunity and differentiating CARVYKTI in the market.
Expansion of Manufacturing Capacity
Approval to produce CARVYKTI commercially at the Obelisc facility in Ghent, Belgium, and plans for increased capacity with the upcoming Tech Lane facility to provide over 10,000 doses per year by end of 2025.
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LEGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LEGN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $40.04 | $40.18 | +0.35% |
| Aug 09, 2024 | $56.91 | $55.90 | -1.77% |
| May 13, 2024 | $43.24 | $42.97 | -0.62% |
| Mar 11, 2024 | $63.25 | $65.19 | +3.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Legend Biotech Corporation (LEGN) report earnings?
Legend Biotech Corporation (LEGN) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is Legend Biotech Corporation (LEGN) earnings time?
Legend Biotech Corporation (LEGN) earnings time is at Mar 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LEGN EPS forecast?
LEGN EPS forecast for the fiscal quarter 2024 (Q4) is -$0.25.
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