Legend Biotech's CAR-T Therapy CARVYKTI Soars, Shattering Records
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Show Notes
Legend Biotechs Q2 2025 earnings report is a scorcher, with CAR-T therapy CARVYKTI leading the charge. Net trade sales surged by 136% YoY to $439 million, treating over 7,500 patients and setting a new CAR-T record. Long-term ASCO data showed one-third of heavily pretreated multiple myeloma patients remained progression-free after five years. The pipeline is heating up, with positive signals from LB1908 and LB2102, and a Novartis deal for the latter. Safety improvements have cut neuro events without dampening demand. Physicians and media are abuzz over the survival benchmark, especially for high-risk patients. Community access is expanding rapidly, with 123 U.S. sites live and new partners like Virginia Oncology Associates joining. Globally, theyve launched in eleven ex-U.S. markets this year. Financials show total revenues of $255 million, with adjusted net income of $10 million after forex losses. Operating loss halved to $22 million, gross margins at 57%, and $1 billion in cash. Capacity ramps will fuel growth into Europe and beyond, setting up operational breakeven for CARVYKTI by year-end and company-wide profits in 2026. Legend Biotech is committed to cell therapy leadership, with plans to push frontline moves and solid tumors next.
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