Key Takeaways:
Legend Biotech Corp. reported first-quarter net trade sales for its cell therapy CARVYKTI grew 62 percent from a year earlier, driven by strong demand and expanded market access.
Total CARVYKTI sales reached approximately $597 million for the quarter ended March 31, the company said Tuesday. The company also reported a healthy balance sheet, with cash, cash equivalents, and time deposits standing at $834.6 million.
The robust sales growth shows the company's success in commercializing its flagship multiple myeloma treatment, which it co-develops with Johnson & Johnson. The treatment is now available in 18 global markets following recent launches in Italy, Poland, the Czech Republic, and Australia. This expansion significantly widens the therapy's addressable patient population.
Beyond its commercial success with CARVYKTI, Legend Biotech is advancing its early-stage cell therapy portfolio. The company confirmed it expects to present data from these programs at multiple medical conferences later in 2026, a key focus for investors tracking the company's long-term growth potential beyond its lead product.
The performance of CARVYKTI is closely watched as it competes in a market with other cell therapies, including Bristol Myers Squibb's Abecma. The strong sales figures and substantial cash reserves position Legend Biotech to continue funding its pipeline and manufacturing expansion.
The sustained growth in CARVYKTI sales demonstrates strong execution and reinforces the therapy's commercial potential. Investors will be closely watching for the upcoming clinical data presentations in 2026 to evaluate the depth of the company's pipeline.
This article is for informational purposes only and does not constitute investment advice.
