Legend Biotech Reports $195M Q1 Revenue, Loss Widens to $101M

Legend Biotech Corporation reported a first-quarter 2025 net loss of $100.92 million, or $0.27 per share, widening from a loss of $59.79 million the previous year, despite revenue more than doubling to $195.05 million. The company’s adjusted loss was $27 million, reflecting ongoing profitability challenges amid strong revenue growth driven by its CARVYKTI® therapy, which recently received regulatory approvals and is ramping up production capacity. With $1 billion in cash and equivalents, Legend Biotech expects this financial runway to last into the second quarter of 2026, when it anticipates potential operating profitability excluding foreign exchange effects. The company is advancing its commercial and clinical efforts globally, including CARVYKTI® production expansion in Belgium and regulatory progress in Australia and Europe. Analysts remain cautiously optimistic, with most rating Legend Biotech stock as a Buy or Overweight, yet noting concerns about negative earnings, cash flow, and valuation. The company’s upcoming Annual General Meeting will address key governance matters, reflecting efforts to support operational continuity and shareholder confidence amid its ambitious growth plans.