BRIEF: Legend Biotech posts strong fourth-quarter revenue gain

Legend Biotech Corp. (LEGN.US) on Tuesday reported strong double-digit revenue growth in last year’s fourth quarter on solid gains for its core Carvykti cancer treatment, lifting the company to a profit on an adjusted basis for the three-month period.

Legend’s revenue rose 64% to $306.3 million in the fourth quarter from $186.5 million a year earlier, according to its quarterly report. Within the total, collaboration revenue – mostly related to its Carvykti partnership with U.S. drug maker Janssen – rose 65% to $277.6 million from $168 million a year earlier. Carvykti sales, which are split between Legend and Janssen under the partnership, rose 66% in the fourth quarter to $555 million from $334 million a year earlier.

Legend said that Carvykti is now available at 294 sites in 14 markets worldwide, and that the drug achieved profitability in 2025.

The company reported an adjusted profit, which excludes certain non-cash items, of $2.5 million for the quarter, reversing a loss of $59 million a year earlier. On a GAAP basis, it reported a $30.9 million fourth quarter loss, reversing a profit of $26.4 million a year earlier.

Legend’s shares rose 2.2% on Tuesday in New York to close at $19.56. The stock is down about 43% over the last 52 weeks.

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