Legend Biotech Corp. · NASDAQ:LEGN
Legend Biotech — Q4 2023 Earnings Presentation
16 slides from Legend Biotech's earnings presentation, Mar 11, 2024
Slide 1: Fourth Quarter and Full Year 2023 Financial Results & Corporate Update
March 11, 2024 Fourth Quarter and Full Year 2023 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 the licensing transaction; Legend Biotech’s expectations on advancing their pipeline and “Company”) solely for information purpose and does not contain all relevant information produ
Slide 3: Agenda
1 Opening Remarks 2 Q4 2023 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: Forward-looking Statements
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 foundation for CARVYKTI® manufacturing capabilities our broader pipeline financial position to fund market
Slide 6: Unleashing the Strength of CARVYKTI®
Unleashing the Strength of CARVYKTI® is a potential Best-in-Class CAR T approved in MM Extensive, long-term • mPFS1 of 35 months in heavily pretreated patients with MM2 with ≥3 prior LOT3 CAR T data available across multiple lines of • First randomized Phase 3 studies for CAR-T use in MM as early as
Slide 7: 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. 165% 4% +189% growth vs Q4’22 180 EU N/A 8% 160 13 Global 189% 5% 12 140 120 3 100 → U.
Slide 8: A New Standard for CAR-T Launches
A New Standard for CAR-T Launches CARVYKTI® - INDUSTRY FIRST SEVEN 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) 400 Kymriah Yescarta Tecartus Breyanzi Abecma Carvykti 368 350 300 Qua
Slide 9: Our Pipeline
Our Pipeline 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 NCT03548207 NCT04133636 I
Slide 10: Q4 2023 Financial Highlights
Q4 2023 Financial Highlights Total Revenue (in $MM) Net Loss (in $MM) EPS (in $) KEY TAKEAWAYS 90 20 0.00 Total revenues increased by 182% compared to 4Q22. 80 0 -0.05 +182% -0.10 • Collaboration revenue 70 -20 increased 193% driven by -0.15 60 -40 increased sales of CARVYKTI® -0.20 -0.41 -0.40 in c
Slide 11: FY 2023 Financial Highlights
FY 2023 Financial Highlights Total Revenue (in $MM) Net Loss (in $MM) EPS (in $) KEY TAKEAWAYS 300 0 0.00 Total revenues increased by 144% compared to the twelve months -0.20 ended 2022. 250 +144% -100 -0.40 • License revenue decreased by 200 -200 30% due to nature and timing -446 -0.60 -518 -1.40 o
Slide 12: Q4 and FY 2023 Operational Highlights
Q4 and FY 2023 Operational Highlights Cash and Cash Equivalents, Time • Cash position of approximately $1.3B expected to fund Deposits, and Short-Term Investments operating and capital expenditures through the end of 2025. Quarter Ended ($MM) • Collaboration costs increased due to cost of sales for
Slide 13: Focused Investments in Pipeline and Development
Focused Investments in Pipeline and Development 4Q 2023 OpEx Increased 26% versus 4Q 2022 → The increase of $25 million in R&D expenses was due to: • Continuous research and development activities in cilta-cel, including higher patient enrollment for Phase 3 clinical trials for cilta-cel, and an inc
Slide 14: Upcoming Milestones
Upcoming Milestones Receive positive ODAC recommendation supporting potential CARVYKTI® label expansion at March 15 meeting. Obtain FDA approval for CARVYKTI® in relapsed and lenalidomide-refractory 1-3 prior lines MM indication based on CARTITUDE-4 (PDUFA target date of April 5, 2024). Regulatory R
Slide 15: 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 15 This presentation is for investor relations purposes only - Not for product promo
Slide 16: Thank you!
Thank you! 16 This presentation is for investor relations purposes only - Not for product promotional purposes