From GlobeNewswire: 2025-03-11 07:00:00

Legend Biotech reported net trade sales of approximately $334 million for the fourth quarter of 2024 and $963 million for the full year. They treated over 5,000 patients with CARVYKTI, which also received reimbursement approval in Spain. The company has cash and cash equivalents of $1.1 billion, ensuring financial stability until the second quarter of 2026.

In key business developments, Legend Biotech announced positive results from a Phase 3 study showing CARVYKTI’s effectiveness in multiple myeloma. They also initiated commercial production of CARVYKTI at a Novartis facility and secured reimbursement in Spain’s national health system. Financially, the company reported revenue of $186.5 million and adjusted net loss of $59.1 million for the fourth quarter of 2024.

Legend Biotech’s financial results for the year ended December 31, 2024, show revenue of $627.2 million, with adjusted net loss of $188.8 million. The company’s cash and cash equivalents at the end of the year were $286.7 million. They use Adjusted Net Loss as a performance metric, excluding items like depreciation, share-based compensation, and unrealized foreign exchange gains.

The company believes that Adjusted Net Loss provides a better understanding of their financial performance. By excluding certain non-cash items and unrealized gains, they can focus on core business operations. Adjusted Net Loss per share was reported at $0.16 for the fourth quarter of 2024, reflecting the company’s financial strategy and performance metrics.



Read more at GlobeNewswire:: Legend Biotech Reports Fourth Quarter and Full Year 2024