Legend Biotech Corp. · NASDAQ:LEGN
Legend Biotech — Q3 2023 Earnings Presentation
15 slides from Legend Biotech's earnings presentation, Nov 20, 2023
Slide 1: Third Quarter 2023 Financial Results & Corporate Update
November 20, 2023 Third Quarter 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 “Company”) solely for information purpose and does not contain all relevant information relating to the Company. The safety and efficacy of the agents and/or uses under investigation
Slide 3: Agenda
1 Opening Remarks 2 Q3 2023 Performance Overview Agenda 3 4 Latest Pipeline Chart Business Development Deal with Novartis 5 Financial Performance 6 Outlook: 2023 and Beyond 7 Q&A This presentation is for investor relations purposes only - Not for product promotional purposes 3
Slide 4: Opening Remarks
Opening Remarks Ying Huang Lori Macomber Chief Executive Officer Chief Financial Officer This presentation is for investor relations purposes only - Not for product promotional purposes 4
Slide 5: Q3 2023 Performance
Q3 2023 Performance CARVYKTI® NET SALES ($MM) EPS ($) Q/Q Q3 2023 Y/Y Change Q3 2023 Q3 2022 Y/Y Change Change -0.17 -0.26 -35% U.S. 140 23% 155% EU 12 300% N/A YTD 2023 YTD 2022 Y/Y Change Global 152 30% 176% -1.07 -0.99 8% TOTAL REVENUE ($MM) Q3 2023 and Recent Highlights → Entered into an exclusi
Slide 6: Out-licensing Deal with Novartis on CAR-T Therapies Targeting DLL3
Out-licensing Deal with Novartis on CAR-T Therapies Targeting DLL3 Legend announced on Nov 13, 2023 an exclusive, global license agreement with Novartis to advance certain DLL3-targeted CAR-T therapies, including LB2102, an investigational therapy for small cell lung cancer. AN UPFRONT PAYMENT ELIGI
Slide 7: Expanding Our Manufacturing Capabilities
Expanding Our Manufacturing Capabilities Bringing cell therapies to market given unique challenges to improve overall supply State-Of-The-Art CARVYKTI Manufacturing Facilities • Obelisc Facility in Ghent, Belgium received license from the Federal Agency for Medicines and Health Products in Belgium f
Slide 8: CARVYKTI Uptake Continues
CARVYKTI® Uptake Continues Continued market penetration, population in earlier lines of treatment represents significant opportunity for continued growth CARVYKTI® Net Product Sales ($MM) YoY Growth QoQ Growth U.S. 155% 23% +176% growth vs Q3’22 EU N/A 300% 160 140 12 Global 176% 30% 120 3 100 → U.S
Slide 9: Our Pipeline
Our Pipeline Global US China PRECLINICAL PHASE 1 PHASE 2 PHASE 3 SCLC‡# RRMM (BCMA)* NSCLC (DLL3) RRMM (BCMA) HCC† RRMM (BCMA)* 1-3 Prior Lines (GPC3) LEGEND-2† (GPC3) CARTIFAN-1 Autologous CARTITUDE-4 Autologous Autologous Autologous Autologous Autologous NCT05680922 NCT03090659 NCT05352542 NCT0375
Slide 10: 2023 3Q and YTD Financial Highlights
2023 3Q and YTD Financial Highlights Total Revenue ($MM) EPS (in $) Net Loss (in $MM) 120 0.00 0 -10 -0.05 100 -20 +251% -0.17 80 -0.10 -30 -62 -40 -0.26 -35% 60 -85 -0.15 -50 96 40 -60 -0.20 -70 -27% 20 -0.25 27 -80 0 -90 -0.30 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Total Revenue ($MM) Net
Slide 11: 2023 3Q and YTD Financial Summary
2023 3Q and YTD Financial Summary ($MM) September 30, 2023 June 30, 2023 March 31, 2023 Cash and Cash Equivalents, Time 1,428 1,519 854 • Cash and cash Deposits, and Short-Term Investments equivalents, time deposits, and short- ($MM) 3Q 2023 3Q 2022 Y/Y change YTD 2023 YTD 2022 Y/Y change term inves
Slide 12: Focused Investments in Pipeline and Development
Focused Investments in Pipeline and Development 3Q 2023 OpEx Decreased 1% versus 3Q 2022 → The decrease of $8.7 million in R&D expenses was due to: • Timing of expenses incurred in connection with the Global Development Plan under the Janssen Agreement. → The increase of $2.2 million in S&D Expenses
Slide 13: Outlook: 2023 and Beyond
Outlook: 2023 and Beyond NEAR-TERM GOALS LONG-TERM GROWTH STRATEGY → Increase manufacturing capacity and efficiency → Focus on unmet medical needs in hematology/oncology → Ongoing enrollment of CARTITUDE-5 → Develop therapies with transforming potential → Ongoing enrollment of CARTITUDE-6 → Increase
Slide 14: 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 14 This presentation is for investor relations purposes only - Not for product promo
Slide 15: Thank you!
Thank you! 15 This presentation is for investor relations purposes only - Not for product promotional purposes