SOMERSET, N.J., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, today announced the appointment of Alan Bash as the Company’s President of CARVYKTI®. In this newly created role, Mr. Bash will be responsible for managing the continued growth of CARVYKTI®, overseeing Legend Biotech’s commercial, technical operations, and quality functions of the franchise. “This expansion in our leadership structure is on the heels of CARVYKTI’s re ...

Legend Biotech Corporation Sponsored ADR (LEGN) closed the last trading session at $43.95, gaining 0.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $83.87 indicates a 90.8% upside potential.The average comprises 19 short-term price targets ranging from a low of $60 to a high of $95, with a standard deviation of $9.51. While the lowest estimate indicates an increase of 36.5% fro ...

交银国际研究 消息快报 传奇生物 (LEGN US) 3Q24 CARVYKTI®销售超预期，重申买入评级 份额提升、大适应症放量和产能落地驱动 3Q24 CARVYKTI®销售超预期： 根据公司合作伙伴强生（JNJ US/未评级）的披露，CARVYKTI®（cilta-cel） 3Q24 录得销售 2.86 亿美元，同比大增 88%，环比增长 54%，超此前市场 一致预期（2.41 亿美元）和我们的预期（2.74 亿美元）。其中，美国销售 同比大幅增长 85%至 2.58 亿美元。正如公司此前所预料，随着早期复发 MM 适应症获批后患者治疗需求持续增长、优异临床数据推动市场份额提 升、新产能逐步落地，3Q24 销售相比 1H24 有显著放量，我们认为这一势 头将持续至 4Q24。CARVYKTI®已于 2024 年 8 月在中国获批上市，未来有望 贡献重要销售增量。 产能稳步释放中，维持买入评级：强生表示比利时 Ghent 商业化产能一期 已正式获批、诺华产能也在积极供应临床所需药品。我们暂维持 CARVYKTI®全年销售预测（9.51 亿美元，对应4Q24 销售3.22 亿美元，环比 +13%）以及公司 ...

SOMERSET, N.J., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), announced it is establishing a new, state-of-the-art research and development (R&D) facility in Philadelphia, Pennsylvania, to advance its portfolio of next-generation cell therapies. "This new facility underscores Legend's commitment to R&D, as we make key investments that will advance our pipeline and strengthen our leadership position in cell therapy innovation," said Ying Huang, Ph.D., Chief Exe ...

Landmark CARTITUDE-4 study results show CARVYKTI® reduced the risk of death by 45 percent after three-year follow-up Late-breaking data featured in an oral presentation at the 21st International Myeloma Society Annual Meeting SOMERSET, N.J., Sept. 27, 2024 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, today announced late-breaking three-year follow-up data from the Phase 3 CARTITUDE-4 study that shows a single infusion of CARVYKTI® (ciltacab ...

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交银国际研究 财务模型更新 收盘价 目标价 潜在涨幅 美元 56.91 美元 76.00↑ +33.5% 医药 2024 年 8 月 12 日 传奇生物 (LEGN US) 2Q24 业绩整体超预期，上调目标价 我们调整了传奇生物 （LEGN US）的盈利预测及估值。我们认为当前股价尚未 完全反映 Carvykti 在各线 MM 治疗中的全球商业化潜力，因此维持公司买入 评级。考虑到公司 2Q24 收入和毛利率超我们预期，我们上调公司 2024 全年 财务预测，并上调目标价至 76.0 美元。 2Q24 业绩整体超预期，上调全年财务预测和目标价：2Q24 总收入同比增 154%至 1.87 亿（美元，下同）；产品和授权收入分别为 0.93 亿和 0.91 亿 ；产品生产毛利率首次超过 50%，达到 51.4%。研发、销售、管理费用分 别同比增18%/40%/27%。随着收入快速增长、费用率持续改善、一次性损 失影响结束，2Q24 净亏损同比大幅收窄至 0.18 亿（2Q23：1.99 亿），位 于此前亏损预告区间的低端。据此，我们上调公司 2024 年收入/净利润预 测至 6.30 亿/-2.64 亿，并继续 ...

Investment Rating - The report maintains a **Buy** rating for Legend Biotech (LEGN US) with a target price of **$76.00**, representing a potential upside of **33.5%** [1][5] Core View - The report highlights that the current stock price does not fully reflect the global commercialization potential of Carvykti in multiple myeloma (MM) treatment lines [1] - Legend Biotech's 2Q24 performance exceeded expectations, leading to an upward revision of the 2024 financial forecasts and target price [1] - The company is expected to achieve breakeven by 2026, driven by strong revenue growth and improving cost efficiency [1] Financial Performance - **2Q24 Revenue**: Total revenue increased by **154% YoY** to **$187 million**, with product revenue at **$93 million** and licensing revenue at **$91 million** [1] - **Gross Margin**: Product gross margin exceeded **50%** for the first time, reaching **51.4%** [1] - **Net Loss**: 2Q24 net loss narrowed significantly to **$18 million** (2Q23: **$199 million**), at the lower end of the loss guidance range [1] - **2024 Forecast**: Revenue and net profit forecasts for 2024 are revised to **$630 million** and **-$264 million**, respectively [1] Carvykti Sales and Capacity Expansion - **Carvykti Sales**: 2Q24 sales grew **60% YoY** and **18% QoQ** to **$186 million** [1] - **Hospital Coverage**: The number of US hospitals offering Carvykti treatment increased to **77** (from **71** in 1Q24), with a target of **100** by year-end [1] - **Outpatient Treatment**: The proportion of outpatient treatment reached **45%** (up from **35%** in 1Q24) [1] - **Capacity Expansion**: Key capacity expansions include: - Novartis initiated clinical production in July, releasing additional commercial capacity in New Jersey [1] - Belgium Phase 1 capacity expected to be approved in 2H24, with Phase 2 and New Jersey expansions set for 2025 [1] - Out-of-stock (OOS) rates for 2-4L MM indications decreased slightly in 2Q24, with further reductions of **5-10%** expected, improving production efficiency and gross margins [1] Financial Model Updates - **Revenue Forecasts**: 2024E revenue revised to **$630 million** (up **5.0%** from previous forecast), with 2025E and 2026E forecasts unchanged at **$1,051 million** and **$1,382 million**, respectively [2] - **Gross Profit**: 2024E gross profit revised to **$360 million** (up **7.3%**), with 2025E and 2026E forecasts at **$604 million** and **$849 million**, respectively [2] - **Net Profit**: 2024E net loss revised to **-$264 million** (from **-$366 million**), with 2026E net profit forecast at **$78 million** [2] Valuation and DCF Model - **DCF Model**: The DCF model's starting year rolled forward to 2025, with a target price of **$76.00** [1] - **Free Cash Flow**: Free cash flow is projected to turn positive in 2025, reaching **$334 million**, and growing to **$1,419 million** by 2033 [3] - **Enterprise Value**: Estimated at **$12,475 million**, with equity value of **$13,853 million** and a per-share value of **$76.00** [4] Industry Comparison - Legend Biotech is part of the **Biotech** sub-sector, with a **Buy** rating and a **33.5%** potential upside [5] - Other notable companies in the Biotech sub-sector include **BeiGene (6160 HK)** with a **41.9%** potential upside and **Hutchmed (13 HK)** with a **29.7%** potential upside [5]

Legend Biotech Corporation (NASDAQ:LEGN) Q2 2024 Earnings Call Transcript August 9, 2024 8:00 AM ET Company Participants Jessie Yeung - VP of IR & Finance Ying Huang - CEO Lori Macomber - CFO Steve Gavel - Head of Commercial Development for US and Europe Guowei Fang - CSO Conference Call Participants Gena Wang - Barclays Jessica Fye - JPMorgan Kelly Shi - Jefferies Ash Verma - UBS Leonid Timashev - RBC Capital Markets Jonathan Miller - Evercore ISI Yaron Werber - TD Cowen James Shin - Deutsche Bank Vikram P ...

1 August 9, 2024 Second Quarter 2024 Financial Results & Corporate Update This presentation is for investor relations purposes only - Not for product promotional purposes Forward-looking Statements This presentation has been prepared by Legend Biotech Corporation ("Legend Biotech" or the "Company") solely for information purpose and does not contain all relevant information relating to the Company. The safety and efficacy of the agents and/or uses under investigation discussed in this presentation have not ...