BRIEF: Legend Biotech’s revenue rises 36% in second quarter
Drug maker Legend Biotech Corp. (LEGN.US) on Monday reported strong revenue growth in the second quarter of 2025 as its core cancer drug gained traction. But its net loss also widened sharply on a big rise in expenses.
The company’s revenue rose 36% year-on-year to $255 million during the three-month period. Revenue from its collaborations with other drug companies more than doubled during the quarter to $219 million, accounting for 86% of the total. That more than offset a 61% year-on-year decline for revenue from licensing agreements, which fell to $35.3 million. The company’s net loss for the quarter widened to $125 million from a loss of $18.2 million a year earlier.
The company’s main drug is Carvykti, a chimeric antigen receptor T-cell (CAR-T) therapy used to treat multiple myeloma. Legend’s stock fell 2.1% on Monday after the announcement. The shares are up about 11% this year.
By Doug Young
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