bullish
Legend Biotech (LEGN US): Mixed 3Q23 Result; Carvykti Is Flying High; New Licensing Agreement
395 Views23 Nov 2023 01:03
SUMMARY
- Legend Biotech Corp (LEGN US) has reported mixed 3Q23 result, with revenue missing and EPS beating consensus. For 3Q23, partner Janssen reported Carvykti worldwide revenue of $152M, up 30% QoQ.
- Legend entered an exclusive, global license agreement with Novartis, which grants Novartis the rights to develop, manufacture, and commercialize LB2102 and other potential CAR-T therapies for upfront payment of $100M.
- The company is expanding manufacturing capacity for Carvykti. As of September 30, 2023, Legend has cash balance of $1.4B, which should provide a runway through 2025.
Begin exploring Smartkarma's AI-augmented investing intelligence platform with a complimentary Preview Pass to:
- Unlock research summaries
- Follow top, independent analysts
- Receive personalised alerts
- Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.
Upgrade later to our paid plans for full-access.
or
Already have an account? Sign In Now
Discussions
(Paid Plans Only)
Rising
Tina Banerjee
Global Healthcare Analyst
Price Chart(Sign Up to Access)
- Legend Biotech (LEGN US): Strong Carvykti Sales in Q2; Indication Expansion Is on the Cards06 Oct 2023
- Legend Biotech (LEGN US): Shares Popped on Promising Clinical Data; Further Upside Potential Remains20 Apr 2023
- Legend Biotech Corp (LEGN US): Carvykti Approval Is the Silver Lining Amid Uncertainty of Delisting17 Apr 2022
x