Legend Biotech Reports Q3 2026 Profitability Driven by CARVYKTI Global Expansion
Legend Biotech (LEGN) achieved a significant financial turnaround in the third quarter of 2026, reporting an adjusted net income of $55.6 million compared to a loss in the prior-year period. The company's revenue rose 32% year-over-year to $359.5 million, fueled primarily by strong demand for its lead cell therapy, CARVYKTI. Notably, international sales outside the U.S. surged by 86%, reflecting successful launches across 20 global markets. The company is seeing a strategic shift in the U.S. market, where 50% of CARVYKTI volume is now coming from second and third lines of treatment. This transition to earlier lines of therapy is supported by strong clinical durability data, including a median progression-free survival of 60.5 months in the CARTITUDE-2 study. With $853 million in cash and no long-term debt, Legend Biotech is well-positioned for continued commercial scaling.
Topics: CARVYKTI Sales Gross Margin Profitability R&D Expenses Revenue Growth
Read the full article at Motley Fool
Part of the story Legend Biotech Reports Q3 2026 Profitability Driven by CARVYKTI Global Expansion (2 articles)