Legendary Creatures (LEGN.US) Q4 revenue increased by 187.6% year-on-year, with a net loss of 1.448 billion US dollars.

Before the US stock market opened on Monday, Legend Biotech (LEGN.US) announced its performance for the fourth quarter of 2023. The financial report shows that Legend Biotech's Q4 total revenue was $79.464 million, an increase of approximately 187.6% from $27.633 million in the same period last year. Of which, licensing revenue was $0, collaboration revenue was $79.435 million, and other revenue was $0.029 million. Net loss was $144.8 million, narrowing from a net loss of $135.9 million in the same period last year; loss per share was $0.40, compared to a loss per share of $0.41 in the same period last year. Research and development expenses were $105.7 million, sales and distribution expenses were $33.7 million, and administrative expenses were $28.7 million. As of December 31, 2023, the company's cash and cash equivalents, deposits, and short-term investments were $1.3 billion, and the company expects that these funds will provide a financial runway until the end of 2025. Legend Biotech stated that CARVYKTI (cilta-cel) had net trade sales of approximately $159 million in the fourth quarter and $500 million for the full year. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has recommended the label expansion of CARVYKTI for early treatment of relapsed and lenalidomide-refractory adult patients with multiple myeloma. The Oncologic Drugs Advisory Committee (ODAC) of the US Food and Drug Administration will meet on March 15 to review data from the CARTUDE-4 study supporting the use of cilta-cel in early treatment of relapsed and lenalidomide-refractory adult patients with multiple myeloma. Dr. Ying Huang, CEO of Legend Biotech, commented, "CARVYKTI achieved global sales of $500 million in its first year of commercialization. We successfully launched CARVYKTI rapidly, solidifying its leading position as a CAR-T therapy for relapsed and refractory multiple myeloma patients. Our achievements in 2023 through our strategic partnership with Johnson & Johnson lay the foundation for the strong growth of CARVYKTI, allowing us to bring CARVYKTI to more patients in need of treatment."