The Investor
11 Aug 2026, 15:52
Legend Biotech Stock Rises 5% as CARVYKTI Sales Jump and Company Turns Profitable
Legend Biotech (NASDAQ: LEGN) shares rose about 5% on Tuesday after the company reported strong second-quarter results, driven by continued growth of its CARVYKTI cell therapy and improving profitability.
CARVYKTI net trade sales increased 50% year-over-year to approximately $657 million, including 32% growth in the U.S. and 128% growth outside the U.S. The treatment is now available across 348 sites in 19 markets.
Legend reported collaboration revenue of $326.1 million, up from $219.7 million a year earlier. More importantly, operating performance swung sharply into positive territory, with operating income of $57.7 million versus a $21.9 million loss last year. Net income reached $33.2 million compared with a $125.4 million loss in Q2 2025.
Clinical developments also supported sentiment. Legend reported a 100% overall response rate and 83.3% complete response rate at the higher dose level in an early study of its investigational LB2501 in vivo CAR-T therapy.
The combination of rapid CARVYKTI growth, the transition to quarterly profitability and encouraging pipeline data appears to be driving the positive reaction in LEGN shares.
Legend Biotech (NASDAQ: LEGN) shares rose about 5% on Tuesday after the company reported strong second-quarter results, driven by continued growth of its CARVYKTI cell therapy and improving profitability.
CARVYKTI net trade sales increased 50% year-over-year to approximately $657 million, including 32% growth in the U.S. and 128% growth outside the U.S. The treatment is now available across 348 sites in 19 markets.
Legend reported collaboration revenue of $326.1 million, up from $219.7 million a year earlier. More importantly, operating performance swung sharply into positive territory, with operating income of $57.7 million versus a $21.9 million loss last year. Net income reached $33.2 million compared with a $125.4 million loss in Q2 2025.
Clinical developments also supported sentiment. Legend reported a 100% overall response rate and 83.3% complete response rate at the higher dose level in an early study of its investigational LB2501 in vivo CAR-T therapy.
The combination of rapid CARVYKTI growth, the transition to quarterly profitability and encouraging pipeline data appears to be driving the positive reaction in LEGN shares.
