GENSCRIPT BIO(HK:01548) Zhi Tong Cai Jing·2025-11-14 02:47Core Viewpoint - Kingsray Biotechnology (01548) experienced a rebound of over 5%, with a current increase of 2.88% to HKD 19, and a trading volume of HKD 27.71 million. The financial performance of its joint venture Legend Biotech for the third quarter ending September 30, 2025, was disclosed, showing significant sales growth and reduced net losses [1]. Financial Performance - Legend Biotech reported sales of CARVYKTI reaching USD 1.332 billion for the first three quarters, reflecting a year-on-year increase of 112%. In Q3 alone, sales amounted to USD 524 million, marking a quarter-on-quarter increase of 19% and a year-on-year increase of 83% [1]. - The net loss for Legend Biotech in the first three quarters was USD 266 million, with Q3 net loss at USD 40 million, significantly reduced compared to previous quarters (Q1/Q2 losses were USD 101 million and USD 125 million respectively, while Q3 2024 loss was USD 125 million) [1]. Market Dynamics - Huatai Securities noted that CARVYKTI's sales growth was strong, with Q1, Q2, and Q3 sales of USD 369 million, USD 439 million, and USD 524 million respectively, each showing a quarter-on-quarter increase of 10% and 19% [2]. - The increase in sales is attributed to higher penetration rates among frontline patients, with 60% of the U.S. market demand for CARVYKTI coming from frontline indications as of Q3. The number of treatment centers has also expanded, with 131 centers in the U.S. (including 38 community hospitals) and a total of 246 centers globally, nearly doubling non-U.S. treatment centers this year [2]. - The outlook for CARVYKTI remains positive, with sufficient catalysts for future growth and recognized competitiveness, suggesting a continued upward trend in sales [2].