Legend Biotech Corp. Sponsored ADR (LEGN.US) Q3 revenue growth increased by 66.9% year-on-year, with a net loss of 125 million US dollars.

On November 12th before the U.S. stock market opened, Legend Biotech Corp. Sponsored ADR (LEGN.US) announced its third-quarter performance for 2024. The financial report shows that Legend Biotech Corp. Sponsored ADR had a revenue of $160.21 million in Q3, a year-on-year increase of 66.9%; a net loss of $125 million, compared to a loss of $62.207 million in the same period last year; and a loss per share of $0.34, compared to a loss per share of $0.17 in the same period last year. In the third quarter, Legend Biotech Corp. Sponsored ADR's licensing revenue was $17.1 million, compared to $20.1 million in the same period last year; collaborative revenue was $142.8 million, compared to $75.9 million in the same period last year. For the three months ending on September 30, 2024, Legend Biotech Corp. Sponsored ADR's research and development expenses were $95.5 million, compared to $95.9 million for the three months ending on September 30, 2023. These expenses were mainly due to the research and development activities of cilta-cel, including the start-up costs of clinical production in Belgium, and the company's continued investment in solid tumor projects. As of September 30, 2024, the company's cash and cash equivalents, as well as term deposits, amounted to $1.2 billion. Legend Biotech Corp. Sponsored ADR believes that these funds will provide financial support for the company until 2026, by which time the company expects to achieve operating profits.