Legend Biotech Achieves Profitability Milestone with Flagship Therapy

Legend Biotech Corp has reached a pivotal financial turning point. The company’s cell therapy, CARVYKTI, became profitable in the last fiscal year, marking a significant operational breakthrough. As this oncology treatment captures greater global market share, Legend’s 2025 financial results demonstrate a marked operational improvement compared to the previous period.

Financial Performance and Market Position

For the full year 2025, CARVYKTI generated net sales of $1.9 billion, driving the company’s improved financial standing. The fourth quarter saw revenue surge 64% year-over-year to approximately $306 million. This growth is primarily attributed to the adoption of CARVYKTI for treating multiple myeloma. To date, more than 10,000 patients have been treated with the therapy, which is now available at 294 sites worldwide, solidifying Legend’s position in the advanced cell therapy market.

While the company reported a GAAP net loss of nearly $31 million in the final quarter, an adjusted net income of $2.5 million signals a positive shift in trajectory. This improvement is supported by enhanced operational efficiency and a robust cash position of about $949 million.

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Capacity Expansion and Future Outlook

To meet rising global demand, Legend Biotech has undertaken a substantial expansion of its manufacturing capabilities. Its facility in Raritan is now recognized as the largest cell therapy production site in the United States. Management’s current focus is on further scaling production, with plans to double annual capacity to 20,000 doses.

Concurrently, the company is advancing the clinical development of new drug candidates to diversify its pipeline beyond its current flagship product.

Despite this operational progress, the market’s response has been muted. The stock, trading at €16.60, remains roughly 35% below its 200-day moving average and has lost more than half its value over the past year. However, with a Relative Strength Index (RSI) reading of 31, the shares are approaching technically oversold territory.