NASDAQ$LEGN
Legend Biotech Corporation-ADR · Q3 2025 earnings
Q3 2025 earnings · · Before market open · Investor relations
Briefing
Legend Biotech reported a narrowed net loss and strong collaboration revenue growth in Q3 2025.
Legend Biotech delivered robust revenue growth driven by CARVYKTI® sales, significantly reducing its net loss compared to the prior year, and is on track toward profitability.
- Total revenue reached $272.3 million, primarily from collaboration revenue.
- Net loss narrowed to $39.7 million from $125.3 million in Q3 2024.
- Adjusted net loss (non-GAAP) was $18.8 million.
- Cash and equivalents stood at $992.6 million, providing runway beyond 2026.
Headline financials
Revenue & EPS history
Legend Biotech · Revenue · Quarterly
$272M
Forward guidance
Legend Biotech expects to reach CARVYKTI® profitability by year-end and company-wide profitability in 2026.
Tailwinds
- Label update for CARVYKTI® includes overall survival benefit.
- Commercial production at the Tech Lane facility has started.
- CARVYKTI® is now approved in 14 global markets.
- Financial runway secured beyond 2026.
- Ongoing clinical trials expanding CARVYKTI® indications.
Headwinds
- Still operating at a net loss.
- R&D costs increased due to pipeline expansion.
- Higher cost of collaboration revenue due to manufacturing scale-up.
- Selling and distribution expenses increased from commercial expansion.
- Adjusted net loss remains despite narrowing gap.
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 Q3 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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