Legend Biotech Corp. · NASDAQ:LEGN
Legend Biotech — Q2 2024 Earnings Presentation
18 slides from Legend Biotech's earnings presentation, Aug 9, 2024
Slide 1: Second Quarter 2024 Financial Results & Corporate Update
August 9, 2024 Second Quarter 2024 Financial Results & Corporate Update This presentation is for investor relations purposes only - Not for product promotional purposes 1
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation has been prepared by Legend Biotech Corporation (“Legend Biotech” or the expectations for LB2102 and its potential benefits; the potential benefits of the licensing “Company”) solely for information purpose and does not contain all relevant information tr
Slide 3: Agenda
1 Opening Remarks 2 Q2 2024 Performance Overview Agenda 3 4 Our Pipeline Financial Performance 5 Upcoming Milestones 6 Q&A 3 This presentation is for investor relations purposes only - Not for product promotional purposes
Slide 4: Presenters: Ying Huang and Lori Macomber
Forward-looking Statements Ying Huang, PhD Lori Macomber Chief Executive Officer Chief Financial Officer 4 This presentation is for investor relations purposes only - Not for product promotional purposes
Slide 5: Business Highlights
Business Highlights C O N T I N U E D P R O G R E S S A G A I N S T O U R S T R AT E G I C P R I O R I T I E S Establishing a strong Strengthening our Unlocking value across Maintaining a solid financial foundation for CARVYKTI® manufacturing capabilities our broader pipeline position to fund sustai
Slide 6: Literature Suggests Superior Efficacy of CAR-T Compared to Different BCMA-directed Therapies
Literature Suggests Superior Efficacy of CAR-T Compared to Different BCMA-directed Therapies A July 2024 Nature* article, which reviewed myeloma patients treated at Mayo Clinic with ADCs1, CAR-T2 and TCEs3 (commercial or investigational BDT4) between 2018-2023 with median follow-up of 21-months, con
Slide 7: Unlocking the Blockbuster Global Market Opportunity
Unlocking the Blockbuster Global Market Opportunity MULTIPLE MYELOMA PATIENTS ELIGIBLE FOR Europe CAR-T THERAPY EC approval for 2L+ MM North America FDA approval for 2L+ MM • Frontline: ~52k patients APAC MHLW1 approval for 4L+ MM • 2L to 4L: ~80k patients • 5L+: ~22k patients South America ANVISA2
Slide 8: A New Standard for CAR-T Launches
A New Standard for CAR-T Launches CARVYKTI® - INDUSTRY FIRST NINE QUARTERS L E A D I N G E A R LY L A U N C H OUTPERFORMING HISTORICAL PERFORMANCE CAR-T LAUNCHES WORLDWIDE SALES OF CAR -T THERAPIES, BY QUARTER OF LAUNCH (IN $MM) 450 Kymriah Yescarta Tecartus Breyanzi Abecma Carvykti 414 400 350 Quar
Slide 9: CARVYKTI Uptake Continues
CARVYKTI® Uptake Continues Continued market penetration, population in earlier lines of treatment represents significant opportunity for continued growth CARVYKTI® Net Trade Sales ($MM) YoY Growth QoQ Growth U.S. 47% 19% +60% growth vs Q2’23 200 EU 567% 25% 180 20 Global 60% 18% 160 13 167 140 12 16
Slide 10: Unleashing the Strength of CARVYKTI
Unleashing the Strength of CARVYKTI® Industry leading early launch performance Treated 3,000+ patients across 100+ ATCs1 globally Expanded CMO relationship with Novartis2 to include commercial supply through 2029 Significant improvement in manufacturing success rate Over 140K square feet of manufact
Slide 11: Global Cell Therapy Manufacturing Facilities
Global Cell Therapy Manufacturing Facilities Cell Processing 1 Raritan, New Jersey, USA 3 8 4 5 2 Morris Plains, New Jersey, USA 6 (Novartis) 7 1 3 Ghent, Obelisc, Belgium 2 4 Ghent, TechLane, Belgium 5 Beerse, Belgium (cryo & QC labs) ▪ Raritan facility expansion in 2024 and ramp in 2025 Lentivirus
Slide 12: US and EU CARVYKTI Supply Overview
US and EU CARVYKTI® Supply Overview RECENT PROGRESS GLOBAL CAPACITY RAMP UP ▪ Started clinical production of Facilities cilta-cel in Ghent Expansion/Process Optimization ▪ Initiated clinical production at Tech Lane Novartis facility in July 2024 Online Facilities Driving To Full Capacity ▪ Signed co
Slide 13: Our Pipeline
Our Pipeline Global US China Cilta-cel Clinical Studies PHASE 1 PHASE 2 PHASE 3 CARTITUDE-5* CARTITUDE-6* BCMA-directed LEGEND-2† CARTIFAN-1* CARTITUDE-1* CARTITUDE-2* CARTITUDE-4* NDMM NDMM RRMM autologous RRMM RRMM RRMM MM 1-3 Prior Lines Transplant Not Transplant NCT03090659 NCT03758417 NCT035482
Slide 14: Q2 2024 Financial Highlights
Q2 2024 Financial Highlights KEY TAKEAWAYS Total Revenue (in $MM) Net Loss (in $MM) EPS (in $) Total revenues increased by 154% 200 0 0.00 compared 2Q23. -18 -0.05 180 -0.10 • Collaboration revenue increased 60% 160 +154% -50 -91% -91% driven by increased sales of 140 CARVYKTI® in connection with th
Slide 15: Focused Investments in Commercialization and Pipeline
Focused Investments in Commercialization and Pipeline 2Q 2024 OpEx increased 23% versus 2Q 2023 o Research and development spend increased by $16.8 million for continuous R&D activities in cilta-cel, including start up costs for clinical production in Belgium and continued investment in solid tumor
Slide 16: Recent and Upcoming Milestones
Recent and Upcoming Milestones Receive positive ODAC recommendation supporting potential CARVYKTI® label expansion. Obtain FDA approval for CARVYKTI® in relapsed and lenalidomide-refractory 1-3 prior lines MM indication based on CARTITUDE-4. Regulatory Receive positive CHMP recommendation supporting
Slide 17: Q&A
Q&A Ying Huang, Ph.D. Lori Macomber Chief Executive Officer Chief Financial Officer Guowei Fang, Ph.D. Steve Gavel Chief Scientific Officer & Head of SVP of Commercial Development, Business Development US and Europe 17 This presentation is for investor relations purposes only - Not for product promo
Slide 18: Thank you!
Thank you! 18 This presentation is for investor relations purposes only - Not for product promotional purposes