Legend BiotechNASDAQ: LEGN

Legend Biotech Corporation (NASDAQ:LEGN ) Q3 2024 Earnings Conference Call November 12, 2024 8:00 AM ET Company Participants Jessie Yeung - Vice President of Investor Relations and Finance Ying Huang - Chief Executive Officer Lori Macomber - Chief Financial Officer Mythili Koneru - Chief Medical Officer Steve Gavel - Senior Vice President, Commercial Development, U.S. & Europe Conference Call Participants Gena Wang - Barclays Kelly Shi - Jefferies Jessica Fye - JPMorgan Kostas Biliouris - BMO Capital James Shin - DB Vikram Purohit - Morgan Stanley Mitchell Kapoor - H.C. Wainright Rick Bienkowski - Cantor Fitzgerald Sean McCutcheon - Raymond James Operator Ladies and gentlemen, thank you for standing by.

Although the revenue and EPS for Legend Biotech (LEGN) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

After losing some value lately, a hammer chart pattern has been formed for Legend Biotech (LEGN), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.

New data will showcase significantly increased and sustained minimal residual disease (MRD) negativity rates, reinforcing the potential of CARVYKTI to transform outcomes in refractory multiple myeloma

Newly created position to lead efforts focused on continued growth and sales Newly created position to lead efforts focused on continued growth and sales

The mean of analysts' price targets for Legend Biotech (LEGN) points to a 90.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

New 31,000 square-foot facility will enhance Legend's leading cell therapy portfolio and expand Legend's R&D capabilities as a global cell therapy leader New 31,000 square-foot facility will enhance Legend's leading cell therapy portfolio and expand Legend's R&D capabilities as a global cell therapy leader

SOMERSET, N.J., Sept. 27, 2024 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, today announced late-breaking three-year follow-up data from the Phase 3 CARTITUDE-4 study that shows a single infusion of CARVYKTI® (ciltacabtagene autoleucel) significantly extended overall survival (OS) in patients with relapsed or lenalidomide-refractory multiple myeloma who have received at least one prior line of therapy, including a proteasome inhibitor (PI), and an immunomodulatory agent (IMiD), reducing the risk of death by 45 percent versus standard therapies of pomalidomide, bortezomib and dexamethasone (PVd) or daratumumab, pomalidomide and dexamethasone (DPd).1 CARVYKTI® is now the first and only cell therapy to improve OS versus standard therapies for patients with lenalidomide-refractory multiple myeloma as early as second line.1 These results were presented as a late-breaking oral presentation at the 2024 International Myeloma Society (IMS) Annual Meeting (Abstract #OA-65) in Rio de Janeiro, Brazil.1

Carvykti, a CAR-T therapy co-developed by Legend Biotech & J&J, is central to second-line multiple myeloma treatment. Both firms are actively scaling up production across bases. Carvykti sales surged 60% YoY, reaching US$343 million in 1H2024, forecasting US$1 bilion+ for the full year. Rumors since July claim Legend Biotech faced a takeover bid, with fresh whispers of pricing disputes in negotiations this week.