NASDAQ:LEGN

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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.
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Author
The Investor 08-11-26
Legend Biotech Soars 39% as Early In Vivo CAR-T Data Impress Investors

Shares of Legend Biotech (NASDAQ: LEGN) surged 39% after the company reported promising early clinical data for LB2501, its investigational in vivo CAR-T therapy for relapsed or refractory non-Hodgkin lymphoma (NHL).

The Phase 1 study showed particularly strong efficacy in the higher-dose cohort. Among six patients treated at dose level 2, the objective response rate was 100%, while 83.3% achieved a complete response. Importantly, all responses remained ongoing at the time of the data cutoff.

Investors were also encouraged by the therapy's safety profile. The company reported no dose-limiting toxicities, no serious adverse events, no deaths, and no cases of immune effector cell-associated neurotoxicity syndrome (ICANS). All observed cytokine release syndrome (CRS) events were mild, with no cases above Grade 2.

LB2501 is designed to generate CAR-T cells directly inside the patient following a single infusion, potentially eliminating the need for complex cell manufacturing and lymphodepleting chemotherapy. The treatment targets both CD19 and CD20 and could represent a significant advance in making CAR-T therapies more accessible and scalable.

The data will be presented in a late-breaking oral session at the European Hematology Association (EHA) Congress later this month, further highlighting the significance of the results.

The sharp rally reflects investor enthusiasm for what could become a first-in-class in vivo CAR-T platform, with the early data suggesting the potential to combine strong efficacy, favorable safety, and a much simpler treatment process than traditional CAR-T therapies.
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Author
European Investor 06-02-26