Legend Biotech Corporation reported a record $439 million in CARVYKTI net trade sales for Q2 2025, marking a remarkable 136% year-over-year growth. This surge is bolstered by strong U.S. sales of $358 million and international sales that quadrupled to $81 million, fueled by recent launches in several countries. The FDA’s recent removal of REMS requirements for CAR-T therapies is expected to enhance patient access and streamline treatment protocols, further supporting the product’s momentum.
The financial implications are significant, with Legend achieving an adjusted net income of $10 million, despite a reported operating loss of $22 million, halved from the previous year. The company maintains a robust cash position of $1 billion, allowing for continued investment in R&D and international expansion. With over 7,500 patients treated and a high manufacturing success rate of 97%, CARVYKTI is positioned for sustained growth.
Market professionals should note that Legend anticipates reaching operational breakeven for CARVYKTI by the end of 2025, with company-wide profitability projected for 2026, excluding unrealized foreign exchange impacts. This trajectory, combined with promising clinical data, suggests a strong outlook for Legend in the competitive CAR-T landscape.
Source: fool.com