Legend Biotech Q1 Earnings Call Highlights

6 days ago 8

MarketBeat

Tue, May 12, 2026 astatine 8:07 AM CDT 7 min read

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Key Points

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CARVYKTI income surged successful Q1 2026, with nett commercialized income of astir $597 million, up 62% twelvemonth implicit year. Growth was driven by earlier-line usage successful the U.S. and beardown planetary expansion, with ex-U.S. income rising much than 200%.
Manufacturing execution improved but margins dipped owed to one-time ramp costs astatine expanded facilities. Legend said gross borderline was 41% successful the 4th and expects it to rebound supra 50% successful Q2 arsenic utilization improves.
Legend’s pipeline is advancing beyond CARVYKTI, particularly its successful vivo CAR T programs. The institution said its BCMA and GPRC5D programs person entered Phase I, archetypal non-Hodgkin’s lymphoma information is expected this year, and it remains connected way for 2026 profitability connected an adjusted basis.

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Legend Biotech (NASDAQ:LEGN) reported sharply higher first-quarter 2026 income for CARVYKTI, its CAR T therapy for aggregate myeloma, arsenic absorption said request continued to determination into earlier lines of attraction and planetary markets expanded.

Chief Executive Officer Ying Huang said the institution began 2026 with “strong momentum” commercially and successful its pipeline. He described Legend arsenic “the largest standalone compartment therapy company” and said CARVYKTI remains the company’s anchor merchandise portion it works to beforehand the therapy into the first-line attraction setting.

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Why Legend Biotech Stock Is Having Its Best Month Yet

CARVYKTI nett commercialized income were astir $597 cardinal successful the archetypal quarter, up 62% from the archetypal 4th of 2025. Huang said U.S. income grew 36% twelvemonth implicit year, portion ex-U.S. income roseate much than 200%.

CARVYKTI Growth Driven by Earlier-Line Use

Alan Bash, Legend’s President of CARVYKTI, said the therapy delivered 8% sequential maturation from the 4th fourth of 2025. In the U.S., maturation was driven chiefly by accrued usage successful earlier-line settings, activation of caller authorized attraction centers and throughput astatine existing sites. Outside the U.S., Bash said request was supported by established European markets and caller launches.

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CARVYKTI is present disposable successful 18 planetary markets and astatine much than 300 attraction sites worldwide, according to the company. Bash said planetary maturation should proceed scaling arsenic tract experience, manufacturing slots and referral patterns mature.

Legend besides provided item connected U.S. treatment-line mix. Bash said patients successful 2nd enactment and 3rd enactment represented 41% of CARVYKTI apheresis measurement successful the U.S. during the archetypal quarter, compared with 29% successful the aforesaid play a twelvemonth earlier. He said the inclination reflects increasing doc assurance successful CARVYKTI’s benefit-risk illustration earlier successful the illness course.

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