LEGN Earnings Prediction
The chart below shows how LEGN performed 10 days before and after its earnings report, based on data from the past quarters. Typically, LEGN sees a +1.55% change in stock price 10 days leading up to the earnings, and a -1.64% change 10 days following the report. On the earnings day itself, the stock moves by +0.24%. This data can give you a slight idea of what to expect for the next quarter's release.
LEGN Key Earning Data
2024/Q4
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LEGN Earnings Analysis
Legend Biotech Corp Corporation (LEGN.O) Earnings Conference Call
Positive
Earnings Surprise Report: Legend Biotech Corporation reported an EPS of $0.08, significantly beating expectations of $-0.39.
Net Trade Sales Surge: CARVYKTI achieved net trade sales of approximately $334 million in Q4 2024, marking a 110% increase year-over-year and a 17% increase from Q3 2024.
FDA Approval for Production: The FDA approved the CMO Novartis facility for commercial production of CARVYKTI, enhancing production capabilities.
CAR-T Therapy Breakthrough: CARVYKTI is the first CAR-T therapy in multiple myeloma to demonstrate a survival benefit versus standard-of-care, with 89% of evaluable patients achieving minimal residual disease negativity after a single infusion.
Operational Breakeven and Profitability: The company is on track to achieve operational breakeven for CARVYKTI by the end of 2025 and anticipates company-wide profitability in 2026, excluding unrealized foreign exchange gains or losses.
CARVYKTI Hospital Certification Growth: The total number of U.S. hospitals certified to treat with CARVYKTI has increased to 102, supporting wider access to the therapy.
Outpatient Treatment Advantage: Outpatient administration of CARVYKTI is a key competitive advantage, with expectations that the majority of treatments will be outpatient by the end of 2025.
Patient Treatment Milestone: The company has treated over 5,000 patients with CARVYKTI, creating a comprehensive dataset that supports ongoing research and development.
Strong Financial Position: Legend Biotech ended the year with $1.1 billion in cash and equivalents, indicating a strong financial position to support future growth.
Negative
Rising Collaboration Costs: Increased collaboration costs of revenue for Q4 2024 were $69 million, up from $32 million in Q4 2023, indicating rising operational expenses.
Administrative Expense Increase: Administrative expenses rose to $34 million in Q4 2024 from $29 million in Q4 2023, reflecting increased infrastructure costs.
Increased Selling Expenses: Selling and distribution expenses increased by $15 million year-over-year to $49 million, driven by costs associated with commercial activities for CARVYKTI.
Adjusted Net Loss Comparison: The adjusted net loss for Q4 2024 was $59 million, compared to an adjusted net loss of $89 million in Q4 2023, indicating ongoing financial challenges despite improvements.
Foreign Exchange Impact on Profit: The significant unrealized foreign exchange gain of $110 million for Q4 2024 was a major factor in the reported net profit, highlighting volatility in financial results due to currency fluctuations.
LEGN FAQs
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LEGN Earning Call Sentiment
Legend Biotech Corporation (NASDAQ:LEGN) Q4 2024 Earnings Call Transcript
LEGN.O
-2.23%Positive
The earnings call reveals strong financial growth, with CARVYKTI sales increasing significantly. The company has a robust balance sheet and strategic plans for market penetration and expansion. Despite some operational risks and vague management responses, the overall sentiment is positive, with optimistic guidance and promising pipeline developments. The absence of a share repurchase program and the lack of specific guidance on competitors' impact are minor concerns. Considering the strong revenue growth and optimistic outlook, the stock price is likely to see a positive movement in the next two weeks.
