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Dec 31, 2024
Legend Biotech Q4 2024 Earnings Report
Legend Biotech reported strong Q4 2024 revenue growth, driven by CARVYKTI sales.
Key Takeaways
Legend Biotech reported Q4 2024 revenue of $186.5 million, significantly increasing from $79.5 million in Q4 2023. The company posted a net income of $26.3 million, reversing a prior-year net loss of $144.8 million. EPS was $0.07, while adjusted EPS was -$0.16. The results reflect strong CARVYKTI sales and licensing revenue growth.
Total revenue grew 134.7% year-over-year to $186.5 million.
Net income of $26.3 million, reversing a loss of $144.8 million in Q4 2023.
EPS of $0.07, while adjusted EPS was -$0.16.
CARVYKTI sales continued driving revenue growth, reaching $334 million.
Legend Biotech
Legend Biotech
Legend Biotech Revenue by Segment
Forward Guidance
Legend Biotech expects continued growth driven by CARVYKTI commercialization and new licensing opportunities.
Positive Outlook
- CARVYKTI is expected to expand its market leadership.
- New licensing deals with Novartis create additional revenue streams.
- Manufacturing expansion with Novartis will enhance production capabilities.
- Increased regulatory approvals are broadening treatment accessibility.
- Strong cash reserves support further investments and R&D.
Challenges Ahead
- R&D expenses remain high, impacting profitability.
- Ongoing expansion requires significant capital investment.
- Regulatory risks could impact approval timelines.
- Macroeconomic factors may affect drug pricing and reimbursement.
- Foreign exchange fluctuations continue to influence financial results.