Overview
Legend Biotech develops and commercializes cell therapies for serious diseases, especially hematological cancers and solid tumors, using multiple technology platforms. Its CAR-T therapies modify a patient’s own T cells to fight cancer, and the company licenses and sells these therapies while pursuing additional research. By pursuing a technology-agnostic pipeline, Legend Biotech aims to bring effective, personalized treatments to patients globally. The company also maintains investor communications to share progress and results.
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About Legend Biotech
Industries
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Bridgewater Township, New Jersey
Founded
2014
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Simplify's take
What believers are saying
- Q3 2026 CARVYKTI sales rose 36%, and ex-U.S. sales jumped 86%.
- Legend posted Q3 2026 adjusted profit and ended with $853 million cash, no debt.
- ASH 2026 will show updated LB2501 data after 100% responses at dose level two.
What critics are saying
- U.S. earlier-line CARVYKTI growth is slower than expected, pressuring 2027 sales assumptions.
- Legend’s July 24, 2026 CEO resignation exposed leadership instability during commercialization scale-up.
- CARVYKTI concentration makes Legend vulnerable if Johnson & Johnson shifts strategy or bispecifics displace CAR-T.
What makes Legend Biotech unique
- CARVYKTI became Legend’s first global blockbuster, with $710 million Q3 2026 net trade sales.
- LB2501 gained FDA IND clearance on October 15, 2026 as first dual-targeting in vivo CAR-T.
- Legend pairs Somerset commercialization with Shanghai research, spanning U.S., China, and J&J partnership execution.
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Funding
Total Funding
$2B
Above
Industry Average
Funded Over
6 Rounds
Benefits
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Disability Insurance
- Paid Sick Leave
- Paid Holidays
- Remote Work Options
Stock Price
Growth & Insights and Company News
6 month growth
0%1 year growth
0%2 year growth
2%What Legend Biotech (LEGN) said on its Q3 earnings call. Legend Biotech (NASDAQ:LEGN) reported 36% growth in third-quarter global net trade sales of its multiple myeloma treatment CARVYKTI, while executives said slower-than-anticipated gains in earlier-line U.S. patients and international launch delays could temper sales expectations. CARVYKTI sales reached $710 million in the third quarter of 2026, with U.S. sales rising 19% and sales outside the U.S. increasing 86% from a year earlier. The company said growth reflected adoption earlier in patients' treatment journeys and launches in new countries. Chief Financial Officer Carlos Santos said the company expects double-digit global CARVYKTI sales growth in 2027, but current net trade sales consensus is at the higher end of the scenarios Legend anticipates. Fourth-quarter sales consensus is also at the high end of the company's expected range, he said. "We are seeing a slower earlier-line share growth in the U.S. than we had initially anticipated," Santos said, also citing launch delays outside the U.S. Legend does not provide formal sales guidance. Earlier-line use and international expansion. Patients receiving CARVYKTI in their second or third line of treatment accounted for 50% of U.S. apheresis volume in the third quarter, up from 41% in the first quarter of 2026 and 29% in the first quarter of 2025, said Alan Bash, president of CARVYKTI. Apheresis is the cell-collection step used in the treatment process. Bash said the company is gaining share in those treatment settings despite competition from bispecific therapies, including TECVAYLI. He said educating physicians and referring patients for consultations can make expansion in earlier lines a longer sales cycle. Legend is also emphasizing September updates to National Comprehensive Cancer Network guidelines. Bash said the guidelines recommend referring patients with myeloma to a T-cell therapy-capable center at first relapse and suggest CAR-T is preferred when both BCMA CAR-T and T-cell engagers are viable options. Outside the U.S., Bash said growth came from new launches and established markets, including Germany, Spain and Italy. CARVYKTI was available in 20 markets worldwide, and Legend reported 373 active treatment sites globally. Chief Executive Officer Ingrid Zhang said she remained confident in CARVYKTI's potential to generate more than $5 billion in peak sales, citing earlier-line use, possible frontline opportunities and geographic expansion. That figure is a company expectation, not a reported sales result. Adjusted profit improves. Legend's total revenue increased 32% year over year. The company reported adjusted net income of $55.6 million, or $0.14 per diluted share, compared with an adjusted net loss of $18.7 million, or $0.05 per diluted share, a year earlier. Adjusted net income is a non-IFRS measure. Santos said gross margin improved to 58%, above the company's expectation in the low-50% range, primarily because of manufacturing efficiencies. Legend now expects fourth-quarter gross margin on net product sales in the high-50% range, though Santos cautioned that margins could vary from quarter to quarter. Research and development expenses fell 16% year over year as costs associated with later-stage frontline studies declined. Selling, general and administrative expenses decreased 20%, including a $24 million one-time share-based compensation credit; excluding the credit, those expenses would have risen 8%. Legend ended the quarter with approximately $853 million in cash equivalents and time deposits and no long-term debt, Santos said. The company reiterated its expectation of full-year 2026 profitability on an adjusted net income basis. Pipeline and clinical updates. Legend received U.S. Food and Drug Administration clearance to begin a clinical study of LB2501, an investigational in vivo CAR-T therapy targeting CD19 and CD20 in relapsed or refractory B-cell malignancies. Interim Head of Research and Development Yuhong Qiu said an abstract for the upcoming American Society of Hematology meeting included 19 patients across three dose levels. All eight patients at dose level two had an overall response and a complete response, while three of five patients at dose level three had both responses. Median follow-up across all patients was 4.8 months. Qiu said no dose-limiting toxicities, ICANS or non-ICANS neurotoxicities were reported in that dataset. Additional updated data, including for dose level three, are expected at the meeting. She cautioned that more patients and longer follow-up are needed to better understand the relationship between dose and response. For CARVYKTI, Zhang highlighted five-year follow-up from the 20-patient CARTITUDE-2 cohort A study: Half of patients remained alive and progression-free without further anti-myeloma treatment, and overall survival was 69%. She said no new CAR-T-cell-related neurotoxicity was reported during extended follow-up. Legend is also studying CARVYKTI in frontline settings. Bash said the earliest previously stated timing for a CARTITUDE-5 readout was 2027, with CARTITUDE-6 expected later. Both studies are event-driven, meaning results depend on the required events occurring. About Legend Biotech (NASDAQ:LEGN). Legend Biotech is a biotechnology company focused on developing cell therapies for cancer, with an emphasis on chimeric antigen receptor (CAR) T-cell treatments. Founded in 2014, the company is headquartered in Somerset, New Jersey, and conducts research and development activities in the United States and China. Its lead product is CARVYKTI (ciltacabtagene autoleucel), a BCMA-directed CAR-T therapy for certain adults with relapsed or refractory multiple myeloma. Legend developed the therapy with Janssen, now part of Johnson & Johnson's Innovative Medicine business, which collaborates on its commercialization. Legend's pipeline includes additional investigational cell therapies for cancer.
Legend Biotech reported a 36% rise in third-quarter sales of its multiple myeloma treatment CARVYKTI, to $710 million. US sales rose 19%, while sales outside the US grew 86%. Adjusted net income reached $55.6 million, against an adjusted loss of $18.7 million a year earlier. Gross margin was 58%, and the company ended the quarter with about $853 million in cash and no long-term debt. It reiterated its expectation of full-year 2026 adjusted profitability. Chief financial officer Carlos Santos said earlier-line adoption in the US is slower than expected and overseas launches have been delayed. Legend expects double-digit global CARVYKTI sales growth in 2027. The US Food and Drug Administration cleared a study of its in vivo CAR-T therapy LB2501.
Legend Biotech is expected to name Ingrid Zhang as chief executive, with an announcement anticipated as early as Tuesday morning, according to people familiar with the matter. The move is expected to be effective immediately. Zhang has served as Novartis's international chief commercial officer since 2024. She previously held leadership roles at AstraZeneca and Pfizer, and was a McKinsey consultant. Legend launched a search for a new CEO after Ying Huang resigned on 24 July, sending shares tumbling more than 10%. The company's CAR-T therapy Carvykti brought in $1.9 billion in sales last year and more than $1 billion in the first half of this year.
Legend Biotech has appointed Ingrid Zhang as chief executive officer, effective 15 September 2026. Zhang succeeds Alan Bash, who served as interim chief executive officer since July 2026 and will return to his role as president of CARVYKTI. Zhang joins from Novartis International, where she most recently served as chief commercial officer. During her tenure at Novartis, she also led the company's China business and innovative medicines organisation. She previously held leadership positions at AstraZeneca, Pfizer, and McKinsey & Company. Legend Biotech is a cell therapy company with over 3,000 employees. The company develops CARVYKTI, a CAR-T cell therapy for relapsed or refractory multiple myeloma, in collaboration with Johnson & Johnson.
Legend Biotech (NASDAQ:LEGN) given new $58.00 price target at Royal Bank Of Canada. August 12, 2026 Key points. * Royal Bank of Canada lowered Legend Biotech's price target to $58 from $59 while maintaining an "outperform" rating, implying 176.32% potential upside from the prior close. * Legend Biotech reported quarterly EPS of $0.09 versus the $0.07 consensus estimate, while revenue of $387.5 million exceeded expectations and increased 51.9% year over year. * Shares fell 3.8% to $20.99, despite generally favorable analyst coverage; eight analysts rate the stock a Buy, six a Hold and one a Sell, with an average target price of $52.57. * Five stocks to consider instead of Legend Biotech. Legend Biotech (NASDAQ:LEGN - Get Free Report) had its target price cut by analysts at Royal Bank Of Canada from $59.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 176.32% from the company's previous close. LEGN has been the subject of several other research reports. HC Wainwright reiterated a "buy" rating and issued a $65.00 price target on shares of Legend Biotech in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Legend Biotech from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. started coverage on shares of Legend Biotech in a research report on Monday, July 13th. They issued a "neutral" rating and a $35.00 price objective on the stock. Barclays reduced their target price on shares of Legend Biotech from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Benchmark reiterated a "buy" rating on shares of Legend Biotech in a report on Tuesday, July 28th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $52.57. Legend Biotech trading down 3.8%. Shares of NASDAQ:LEGN traded down $0.84 during trading on Wednesday, hitting $20.99. 222,918 shares of the company's stock traded hands, compared to its average volume of 2,499,674. Legend Biotech has a 52 week low of $16.24 and a 52 week high of $38.35. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -31.07 and a beta of 0.37. The company has a 50-day moving average price of $26.68 and a 200-day moving average price of $23.15. Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. The business had revenue of $387.50 million during the quarter, compared to analysts' expectations of $355.96 million. Legend Biotech had a negative return on equity of 24.92% and a negative net margin of 21.98%.Legend Biotech's revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. On average, analysts predict that Legend Biotech will post -0.01 earnings per share for the current fiscal year. Insiders place their bets. In other news, CEO Ying Huang sold 5,566 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $14.78, for a total transaction of $82,265.48. Following the completion of the transaction, the chief executive officer directly owned 241,872 shares of the company's stock, valued at $3,574,868.16. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is currently owned by company insiders. Institutional trading of Legend Biotech. Institutional investors have recently made changes to their positions in the business. First Trust Advisors LP bought a new stake in Legend Biotech during the 2nd quarter worth about $411,000. Squarepoint Ops LLC grew its holdings in shares of Legend Biotech by 77.6% in the 2nd quarter. Squarepoint Ops LLC now owns 148,681 shares of the company's stock valued at $5,277,000 after acquiring an additional 64,956 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Legend Biotech by 16.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,081 shares of the company's stock valued at $2,984,000 after acquiring an additional 11,771 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Legend Biotech by 3.5% in the second quarter. Alliancebernstein L.P. now owns 1,560,596 shares of the company's stock valued at $55,386,000 after acquiring an additional 52,344 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Legend Biotech in the second quarter valued at about $15,790,000. Institutional investors own 70.89% of the company's stock. Here are the key news stories impacting Legend Biotech this week: * Positive Sentiment: Legend Biotech reported second-quarter EPS of $0.09, exceeding the $0.07 analyst consensus. Revenue reached $387.5 million, ahead of the $355.96 million estimate and up 51.9% year over year, providing evidence of continued commercial momentum. Legend Biotech earnings report * Positive Sentiment: Coverage highlighted adjusted EPS that was approximately double consensus expectations and the company's first quarter of company-wide profitability, strengthening the investment case for operating leverage as sales grow. Legend Biotech gains on earnings beat * Positive Sentiment: Analysts set a reported price target of $55.29 for Legend Biotech, substantially above the stock's recent trading level. The target signals considerable potential upside if Carvykti growth and the company's profitability trajectory continue. Analysts set Legend Biotech price target * Neutral Sentiment: Investor attention remains focused on Carvykti demand, manufacturing capacity and management's outlook, which will determine whether the latest revenue growth can be sustained. Legend Biotech Carvykti earnings preview * Neutral Sentiment: A report showing zero shares sold short and a zero-day short-interest ratio appears inconsistent with normal market data, limiting its usefulness as a signal for trading sentiment. Legend Biotech company profile. Legend Biotech NASDAQ: LEGN is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson. The company's lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)-directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider Legend Biotech, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Legend Biotech wasn't on the list. 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About Legend Biotech
Industries
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Bridgewater Township, New Jersey
Founded
2014
Legend Biotech is Hiring for 69 Jobs on Simplify!
Find jobs on Simplify and start your career today
Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs