Legend Biotech Corp. · NASDAQ:LEGN
Legend Biotech — Q1 2026 Earnings Presentation
19 slides from Legend Biotech's earnings presentation, May 12, 2026
Slide 1: First Quarter 2026 Financial Results & Corporate Update
May 12, 2026 First Quarter 2026 Financial Results & Corporate Update This presentation is for investor relations purposes only - Not for product promotional purposes 1
Slide 2: Agenda
1 Opening Remarks 2 Q1 2026 Highlights & Recent Accomplishments Agenda 3 4 Pipeline CARVYKTI® Performance Overview 5 Financial Performance 6 Q&A 2 This presentation is for investor relations purposes only - Not for product promotional purposes
Slide 3: Ying Huang, Alan Bash, Carlos Santos
Ying Huang, PhD Alan Bash Carlos Santos Chief Executive Officer President of CARVYKTI® Chief Financial Officer 3 This presentation is for investor relations purposes only - not for product promotional purposes
Slide 4: Forward-looking Statements
Forward-looking Statements This presentation has been prepared by Legend Biotech Corporation (“Legend Biotech” or the exchange losses in 2026; the progress of such submissions with the FDA, the EMA and other “Company”) solely for information purpose and does not contain all relevant information regu
Slide 5: Non-IFRS financial metrics
Non-IFRS financial metrics This presentation refers to certain non-IFRS financial metrics. We use Adjusted Net Loss and Adjusted Net Loss per Share (which we sometimes refer to as “Adjusted EPS”, or “ANI per Share”, respectively) as performance metrics. Adjusted Net Loss and ANI per Share are not de
Slide 6: Ying Huang, PhD
Ying Huang, PhD Chief Executive Officer 6 This presentation is for investor relations purposes only - not for product promotional purposes
Slide 7: Q1 2026 Highlights & Recent Accomplishments
Q1 2026 Highlights & Recent Accomplishments Q1 2026 Highlights • CARVYKTI® Net Trade Sales grew 62% YoY $597M • 36% YoY growth in US • 222% YoY growth OUS • CARVYKTI® is launched in 18 global markets, with more than 300 global activated CARVYKTI® treatment sites • Announced scientific advisors to su
Slide 8: Advancing a Robust, Differentiated Cell Therapy Pipeline
Advancing a Robust, Differentiated Cell Therapy Pipeline Program Target Indication Pre-Clinical Phase I Phase II Phase III NDA Current Status Partner CARVYKTI®: BCMA-directed Autologous Therapy NDMM (Front-line) (Transplant Not Intended) (CARTITUDE-5)(1) Multi-Regional Clinical Trial Patient follow-
Slide 9: Well Positioned For Long-Term Growth
Well Positioned For Long-Term Growth $1.9B $835M 14 Profitable1 FY 2025 CARVYKTI Net Trade Sales Cash Position2 Pipeline Programs CAR-T Leadership in MM3 Cell Therapy Innovation Durable Global Business • CARVYKTI® is the top-selling CAR-T • Advancing pipeline with data to • $835 Million in Cash, Cas
Slide 10: Alan Bash
Alan Bash President of CARVYKTI® 10 This presentation is for investor relations purposes only - not for product promotional purposes
Slide 11: CARVYKTI Sales Highlights
CARVYKTI® Sales Highlights Expanding market penetration and earlier-line adoption represent a substantial and durable growth opportunity CARVYKTI® Net Trade Sales ($MM) YoY Growth1 QoQ Growth2 Q1 2026 NTS were $597M U.S. 36% 3% +62% growth to $597M in Q1’26 vs. $369M in Q1’25 OUS 222% 21% 700 Global
Slide 12: Accelerating Growth through Earlier Line Expansion and Cell Therapy Manufacturing Leadership
Accelerating Growth through Earlier Line Expansion and Cell Therapy Manufacturing Leadership STRONG EARLY LINE MANUFACTURING EXPANSION OPTIMIZATION 1Q25 Apheresed 1Q26 Apheresed Patients in U.S. Patients in U.S. 99% Manufacturing Success Rate2 2 + 3L 5L+ MM 29-day median turnaround time (TAT) 2 MM P
Slide 13: Carlos Santos
Carlos Santos Chief Financial Officer 13 This presentation is for investor relations purposes only - not for product promotional purposes
Slide 14: Progress Towards Profitability Inflection Point
Progress Towards Profitability Inflection Point Strong underlying demand growth, with Operating Margin improving from -142% in 2Q23 to -16% in 1Q26 350 150% Non-IFRS Adjusted Net Income/(Loss) (USD $M) 56% y/y Growth 300 100% 250 50% Operating Margin (%) Revenue ($MM) 200 0% 150 -50% 100 -100% -33 -
Slide 15: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights $ in millions (except per share) Q1 2026 Q1 2025 Change Driving Operating Leverage Over Time Collaboration Revenue 298.4 185.6 61% o Significant revenue growth of 56% Y/Y with License & Other Revenue 6.7 9.4 -29% operating expenses growth of only 2% Y/Y1 Total Revenue 30
Slide 16: Profitability and Strong Balance Sheet for Business Sustainability
Profitability and Strong Balance Sheet for Business Sustainability 2026 Goals Investment Priorities Balance Sheet Strength • 3/4 of CARVYKTI® orders • Advancing in vivo CAR-T • $835M in Cash, Cash from 2-4L pipeline programs Equivalents and Time • Consecutive quarter over • Focused, synergistic busi
Slide 17: Q&A
Q&A Ying Huang, Ph.D. Carlos Santos Chief Executive Officer Chief Financial Officer Alan Bash Guowei Fang, Ph.D. President of CARVYKTI® President of Research and Development 17 This presentation is for investor relations purposes only - Not for product promotional purposes
Slide 18: Thank you!
Thank you! 18 This presentation is for investor relations purposes only - Not for product promotional purposes
Slide 19: Reconciliation of IFRS to Non-IFRS Metrics
Reconciliation of IFRS to Non-IFRS Metrics Three months ended March 31, ($ in millions, except per share data) 2026 2025 Net loss (54.3) (101.0) Depreciation and amortization 15.7 5.3 Share-based compensation 19.3 15.9 Impairment loss (included in other operating expense) 2.9 1.0 Unrealized foreign