NASDAQ$LEGN
Legend Biotech Corporation-ADR · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Legend Biotech reported a significant increase in collaboration revenue during Q1 2025, driven by CARVYKTI sales, despite a wider net loss.
Legend Biotech saw revenue more than double year-over-year in Q1 2025 due to strong CARVYKTI-related collaboration revenue. However, operating expenses and foreign exchange losses led to a larger net loss. The company remains confident in achieving profitability by 2026.
- Total revenue rose to $195.05M, up from $93.99M in Q1 2024.
- Collaboration revenue from CARVYKTI reached $185.6M.
- Adjusted net loss narrowed to $27.0M, compared to $85.3M in Q1 2024.
- Over 6,000 patients have been treated with CARVYKTI to date.
Headline financials
Revenue & EPS history
Legend Biotech · Revenue · Quarterly
$195M
Forward guidance
Legend Biotech expects to achieve company-wide profitability by 2026, supported by continued CARVYKTI expansion and manufacturing scale-up.
Tailwinds
- Positive CHMP opinion to expand CARVYKTI label.
- Australia’s TGA approved CARVYKTI in second-line+ multiple myeloma.
- Initiated clinical production at Tech Lane facility, with commercial output expected by year-end.
- Strong cash position of $1.0B provides runway into Q2 2026.
- Adjusted net loss improved significantly year-over-year.
Headwinds
- Reported net loss widened to over $100M in Q1.
- High R&D expenses of $101.9M limit short-term profitability.
- Foreign exchange losses significantly impacted bottom line.
- Increased selling and distribution expenses due to expansion.
- License revenue declined YoY due to timing of activities in Novartis agreement.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2025
+0.8%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+2.1%
Avg return
30 days after
47%
9 / 19 earnings
Positive
+16.3%
Q1 2021
Best reaction
-11.3%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | -2.8% | -7.2% | -30.3% | |
| Q1 2025 | -4.1% | -14.2% | +17.1% | |
| Q4 2024 | +9.3% | +9.3% | -8.1% | |
| Q3 2024 | -1.7% | -4.6% | -11.4% | |
| Q2 2024 | -1.2% | -3.9% | -15.1% | |
| Q3 2023 | -11.3% | -10.1% | -27.1% | |
| Q4 2023 | +3.0% | +1.2% | -12.3% | |
| Q2 2023 | -3.8% | -5.7% | -7.4% | |
| Q1 2023 | -2.3% | -6.7% | -1.8% | |
| Q4 2022 | +0.2% | -3.9% | +42.7% | |
| Q3 2022 | +0.4% | +2.2% | +23.6% | |
| Q1 2022 | +2.3% | +8.8% | +32.0% | |
| Q4 2021 | -2.0% | -4.3% | +4.2% | |
| Q3 2021 | +13.5% | +12.5% | -14.2% | |
| Q2 2021 | +5.9% | +7.5% | +28.8% | |
| Q1 2021 | +16.3% | +29.0% | +25.4% | |
| Q4 2020 | -6.4% | -2.9% | -8.2% | |
| Q3 2020 | +1.8% | +5.1% | +10.5% | |
| Q2 2020 | -1.0% | -7.7% | -9.5% | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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