Legend Biotech Corp. · NASDAQ:LEGN
Legend Biotech — Q1 2025 Earnings Presentation
19 slides from Legend Biotech's earnings presentation, May 13, 2025
Slide 1: First Quarter 2025 Financial Results & Corporate Update
May 13, 2025 First Quarter 2025 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 2025 Performance Overview Agenda 3 4 Our Pipeline Upcoming Milestones 5 CARVYKTI® Performance Overview 6 Financial Performance 7 Q&A 2 This presentation is for investor relations purposes only - Not for product promotional purposes
Slide 3: Presenters: Ying Huang, Alan Bash, Jessie Yeung
Ying Huang, PhD Alan Bash Jessie Yeung Chief Executive Officer President of CARVYKTI® Interim 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 profit excluding unrealized foreign exchange losses in 2026; the progress of such submissions “Company”) solely for information purpose and does not contain all relevant information
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 “ANL per Share”) as performance metrics. Adjusted Net Loss and ANL per Share are not defined under IFRS, are not a measu
Slide 6: Proven Leader Forging the Path to Cure
– Proven Leader Forging the Path to Cure First and only CAR-T cell therapy demonstrating superior OS vs SoC in Multiple Myeloma >6,000 patients treated worldwide Strongest CAR-T launch to date with industry leading 79% NTS CAGR since launch1 Positive opinion from CHMP2 for inclusion of CARTITUDE-4 O
Slide 7: Proven CAR-T Market Leader in Multiple Myeloma
- Proven CAR-T Market Leader in Multiple Myeloma CARVYKTI® Transformed the Multiple Myeloma Treatment Paradigm 2022 2023 2024 2025 2026 4L+ Approval 2L+ Approval Continued Market Leadership Approval and Indication Expansion Deepening Community Penetration Preparing for 1L Approval Ongoing Data Redef
Slide 8: Our Pipeline
Our Pipeline Ciltacabtagene Autoleucel Clinical Studies PHASE 1 PHASE 2 PHASE 3 LEGEND-2† CARTIFAN-1* CARTITUDE-1* CARTITUDE-2* CARTITUDE-4* CARTITUDE-5* CARTITUDE-6* BCMA-directed RRMM RRMM RRMM MM NCT04133636 RRMM NDMM NDMM Autologous NCT03090659 NCT03758417 NCT03548207 1-3 Prior Lines Transplant
Slide 9: In Vivo Delivery
In Vivo Delivery A next generation approach to off-the shelf CAR-T In Vivo CAR-T Therapy Reprogramming immune cells directly in the body through direct infusion, eliminating the T cell binder need for ex vivo cell engineering and manufacturing • Better CAR-T cell fitness • Off-the-shelf therapy • No
Slide 10: Recent and Upcoming Anticipated Milestones
Recent and Upcoming Anticipated Milestones RECENT MILESTONES ANTICIPATED MILESTONES Obtained FDA1 and EMA2 approval for CARVYKTI® in • Continue executing global launches for CARVYKTI® in Establishing a strong 2L+ relapsed and lenalidomide-refractory MM 2L+ therapy foundation for CARVYKTI® OS label u
Slide 11: CARVYKTI Uptake Continues
CARVYKTI® Uptake Continues Continued market penetration, population in earlier lines of treatment represents significant opportunity for continued growth YoY Growth1 QoQ Growth2 CARVYKTI® Net Trade Sales ($MM) U.S. 127% 5% +135% growth to $369M in Q1 ’25 vs. $157M in Q1’24 400 OUS 219% 65% 350 51 Gl
Slide 12: US and EU CARVYKTI Supply Overview
US and EU CARVYKTI® Supply Overview Facilities Expansion/ Process Optimization UPCOMING ANTICIPATED MILESTONES • Aim to double commercial supply in 2025 to achieve: • 10,000 annualized doses Tech Lane Facilities Driving Online To Full Capacity exiting 2025 Doses • 20,000 annualized doses Obelisc Cli
Slide 13: Reliable Manufacturing for Physicians and their MM Patients
Reliable Manufacturing for Physicians and their MM1 Patients CARVYKTI TAT 97% Success in CAR-T Cell Manufacturing2 Accommodates Bridging Therapy • The International Myeloma Working Group recommends bridging therapy (BT) after apheresis for CAR-T manufacturing in certain MM patients3 CARVYKTI deliver
Slide 14: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights IFRS Total Revenue (in $MM) IFRS Net Income/(Loss) Adjusted Net Loss 1 (in $MM) (in $MM) 200 0 0 -10 -20 -27 150 -20 -60 -40 -30 100 195 -40 -85 -60 50 -50 94 -101 -80 -60 0 -70 -100 -80 Q1 Q1 -120 Q1 Q1 -90 Q1 Q1 2024 2025 2024 2025 2024 2025 IFRS Net Loss Per Share Adj
Slide 15: Focused Investments in Commercialization and Pipeline
Focused Investments in Commercialization and Pipeline Operating Expenses ($MM) Q1 2025 OpEx increased 11% versus Q1 2024 200 o Research and development (R&D) spend increased by 180 $1 million due to R&D activities in cilta-cel with two ongoing frontline studies, offset by a decrease in other 160 16
Slide 16: Executing Toward Anticipated Company Wide Profitability in 2026
Executing Toward Anticipated Company Wide Profitability in 2026 K E Y D R IVE R S COMMERCIAL MANUFACTURING FINANCIAL Further expand Increasing Scaling business with market leadership in manufacturing ~$1B cash position Multiple Myeloma efficiency CAR-T therapies Continued margin Expanding capacity e
Slide 17: Q&A
Q&A Ying Huang, Ph.D. Jessie Yeung Chief Executive Officer Interim Chief Financial Officer Alan Bash Guowei Fang, Ph.D. Mythili Koneru, M.D., Ph.D. President of CARVYKTI® President of Research Chief Medical Officer and Development 17 This presentation is for investor relations purposes only - Not fo
Slide 18: Thank you!
Thank you! 18 This presentation is for investor relations purposes only - Not for product promotional purposes
Slide 19: Reconciliation of IFRS to Non-IFRS Metrics
Reconciliation of IFRS to Non-IFRS Metrics Three months ended March 31, ($ in thousands, except per share data) 2025 2024 Net loss (100,916) (59,793) Depreciation and amortization 5,199 5,722 Share-based compensation 15,946 18,703 Impairment loss 970 — Unrealized foreign exchange loss/(gain) (includ