Quarterly ResultAug 11, 2026, 07:56 AM
Legend Biotech Q2 Net Income $33.2M; CARVYKTI Sales +50% to $657M
AI Summary
Legend Biotech reported strong second quarter 2026 financial results, achieving a net income of $33.2 million, a substantial improvement from a net loss in the prior year. This was driven by a 50% increase in CARVYKTI net trade sales to $657 million and expanded global availability. The company also announced positive clinical proof-of-concept for its investigational LB2501 CAR-T therapy and strengthened its balance sheet with $212 million from a public offering, bringing total cash to $965 million.
Key Highlights
- CARVYKTI net trade sales increased 50% to $657 million in Q2 2026.
- Q2 2026 net income was $33.2 million, compared to a $125.4 million net loss in Q2 2025.
- Collaboration revenue for Q2 2026 rose to $326.1 million from $219.7 million year-over-year.
- Operating income for Q2 2026 was $57.7 million, a significant improvement from a $21.9 million loss.
- LB2501 achieved 100% overall response rate and 83.3% complete response rate at higher dose level.
- Successfully completed a public offering of ADSs, generating approximately $212 million in net proceeds.
- Cash and cash equivalents, and time deposits totaled $965 million as of June 30, 2026.
- Adjusted net income for Q2 2026 was $63.1 million, up from $10.1 million in Q2 2025.
Price Impact
More from LEGN