Legend Biotech Corporation (NASDAQ:LEGN) shares gained 5.5% in pre-market trading on Tuesday after the pharmaceutical company delivered better-than-expected second-quarter earnings and revenue, supported by continued growth in CARVYKTI sales.
Adjusted earnings came in at $0.16 per share, more than double the analyst consensus of $0.07. Revenue reached $387.5 million, ahead of the $362.81 million estimate and up 52% from $255.1 million in the second quarter of 2025.
The results also showed a significant improvement in profitability, with Legend Biotech moving from an operating loss a year ago to positive operating income.
CARVYKTI sales climb 50%
CARVYKTI net trade sales reached approximately $657 million during the quarter, representing year-on-year growth of 50%.
U.S. sales increased 32%, while sales outside the U.S. jumped 128%, reflecting the continued expansion of the therapy’s international commercial footprint.
Legend Biotech said CARVYKTI is now available through 348 sites across 19 markets following its recent launch in Ireland.
Collaboration revenue increased to $326.1 million from $219.7 million a year earlier, primarily driven by higher CARVYKTI sales under the Janssen collaboration agreement.
“Our second quarter results demonstrate the strength of our commercial and innovation engines at Legend Biotech,” said Alan Bash, Interim Chief Executive Officer. “CARVYKTI continued to deliver growth as we expand patient access globally, including the most recent launch in Ireland, our 19th market.”
Legend Biotech swings to operating profit
The higher revenue base translated into a substantial improvement in Legend Biotech’s financial performance.
Operating income reached $57.7 million, compared with an operating loss of $21.9 million in the second quarter of 2025.
Net income was $33.2 million, reversing a net loss of $125.4 million a year earlier, while adjusted net income increased to $63.1 million from $10.1 million.
For investors, the shift into operating profitability adds another dimension to the CARVYKTI growth story, showing that expanding product sales are increasingly translating into stronger company-level earnings.
LB2501 delivers initial clinical proof-of-concept
Alongside the commercial progress, Legend Biotech reported its first clinical proof-of-concept for LB2501, an investigational in vivo CD19/CD20 dual-targeting CAR-T therapy.
At the higher dose level, the treatment produced a 100% overall response rate among patients with relapsed or refractory B-cell non-Hodgkin lymphoma.
While the data remain an early clinical development milestone, the result adds another program for investors to monitor beyond CARVYKTI.
Cash position supports continued investment
Legend Biotech ended June with approximately $965 million in cash, cash equivalents and time deposits.
The balance was supported by approximately $212 million in net proceeds from a public offering.
For investors, the second-quarter report combines three important developments: continued CARVYKTI sales growth, a move into operating profitability and progress within the company’s broader CAR-T pipeline.
Future CARVYKTI adoption, particularly outside the U.S., and further clinical development of LB2501 are likely to remain key measures of whether Legend Biotech can sustain its current commercial and operational momentum.
Legend Biotech Corporation stock price
