Legend Biotech Earnings Call Transcripts
Fiscal Year 2026
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CARVYKTI achieved $1.7B in sales, treated over 10,000 patients, and is expanding globally with strong clinical data and manufacturing scale. Early-line use is rising, pipeline innovation is accelerating, and profitability is expected in 2026.
Fiscal Year 2025
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Q4 2025 saw 66% year-over-year CARVYKTI sales growth, driving profitability for the franchise and strong revenue gains. Manufacturing capacity and global reach expanded, with 65% of patients now treated in earlier lines. Company-wide profitability is expected in 2026.
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Q3 2025 saw record CARVYKTI sales, strong global expansion, and improved operational efficiency, with profitability expected in 2025 for CARVYKTI and 2026 company-wide. Manufacturing capacity and treatment center networks are expanding to meet rising demand, especially in earlier lines and community settings.
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CARVYKTI is achieving strong sales growth and expanding into earlier-line and community settings, supported by robust clinical data and ongoing global trials. Outpatient administration and new production facilities are driving broader access, while the pipeline advances in solid tumors, allogeneic, and in vivo CAR-T therapies.
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Record CAR-T sales and strong revenue growth were driven by CARVYKTI's expanding adoption, especially in earlier lines of therapy and international markets. Operational efficiency improved, with profitability expected in 2026, and new label updates and clinical data further support long-term growth.
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Q1 2025 saw 135% year-over-year CARVYKTI sales growth, improved margins, and reduced losses. Capacity expansions and global launches are driving further growth, with profitability expected in 2026 and a strong $1B cash position supporting ongoing innovation.
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A leading cell therapy company highlighted Carvykti's rapid growth, strong clinical data, and expanding manufacturing capacity, targeting 10,000 annual doses by 2025. The pipeline includes next-gen CAR-Ts and new indications, with significant revenue growth and global expansion planned.
Fiscal Year 2024
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Q4 2024 saw $334M in CARVYKTI sales, up 110% year-over-year, with strong demand and expanded capacity. Profitability is expected in 2026, supported by robust pipeline investments and global manufacturing expansion. Majority of revenue is shifting to earlier-line indications.
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Carvykti continues to show strong clinical and commercial momentum, with robust survival benefits and expanding outpatient use. CARTITUDE-4 data confirm significant PFS and OS improvements, while real-world evidence supports safety and efficacy. Evolving management strategies and patient selection are reducing adverse events.
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CARVYKTI sales soared 87.6% year-over-year in Q3, driven by strong demand, expanded approvals, and increased outpatient use. Net loss widened due to higher expenses and foreign exchange losses, but liquidity remains strong with $1.2 billion in cash. Sequential growth is expected in Q4.
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Productive legislative engagement has minimized regulatory risk, while manufacturing expansion and strong early-line adoption are driving growth. Significant survival benefits and broad label position Carvykti favorably against competitors, with robust pipeline progress in first-line, autoimmune, and solid tumor indications.
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Q2 2024 saw 18.5% sequential and 60% year-over-year CARVYKTI sales growth, driven by label expansions, strong demand, and manufacturing scale-up. Net loss narrowed sharply, and the company maintains a $1.3B cash position, supporting capacity expansion and pipeline progress.
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Legend Biotech highlighted CARVYKTI’s strong efficacy and expanding use in earlier myeloma lines, with plans to double supply in 2024 and 2025. Expansion into community centers and new manufacturing sites is underway, while safety and reimbursement remain well managed.