Legend Biotech Corp. · NASDAQ:LEGN
Legend Biotech — Q2 2025 Earnings Presentation
27 slides from Legend Biotech's earnings presentation, Aug 11, 2025
Slide 1: Second Quarter 2025 Financial Results & Corporate Update
August 11, 2025 Second 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 Q2 2025 Highlights & Recent Accomplishments Agenda 3 4 Our Pipeline Capitalizing on Market Leadership 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 losses in 2026; the progress of such submissions with the FDA, the EMA and other regulatory “Company”) solely for information purpose and does not contain all relevant information au
Slide 5: Non-IFRS financial metrics
Non-IFRS financial metrics This presentation refers to certain non-IFRS financial metrics. We use Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share (which we sometimes refer to as “Adjusted EPS”, or “ANI per Share”, respectively) as performance metrics. Adjusted Net Income (Loss) a
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: Q2 2025 Highlights & Recent Accomplishments
Q2 2025 Highlights & Recent Accomplishments Q2 2025 Highlights Select Presentations at ASCO1 • CARVYKTI® Net Trade Sales of $439M • Presented CARTITUDE-1 analysis demonstrating 1/3 • 136% YoY growth, driven by continued share of patients with relapsed and refractory MM2 gains and capacity expansion
Slide 8: CARVYKTI is the first MM CAR-T to show long-term survival
CARVYKTI is the first MM CAR-T to show long-term survival CARTITUDE-1: ≥5-year remission and survival after treatment with CARVYKTI Among these 32 patients: Median age 60 years # of prior lines of therapy (LOT) 6.5 (range, 3-14) Of 97 patients treated, 32 (33%) HR cytogenetics 23.3% remained alive a
Slide 9: CARVYKTI improved PFS and OS across CARTITUDE-4 subgroups
CARVYKTI improved PFS and OS across CARTITUDE-4 subgroups CARVYKTI consistently improved progression free survival (PFS) and overall survival (OS) compared with standard of care (SOC) in patients with standard risk and high risk1 Kaplan-Meier analysis of patients with standard-risk and high-risk cyt
Slide 10: Leveraging Learnings to Further Improve CARVYKTI's Profile
Leveraging Learnings to Further Improve CARVYKTI’s Profile PREDICTING MITIGATING MANAGING NEUROLOGIC EVENTS1 NEUROLOGIC EVENTS1 NEUROLOGIC EVENTS1 • Using effective • Evaluating various bridging therapy management approaches • Identifying high including, but not limited to: • Monitoring ALC levels t
Slide 11: 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 12: Leveraging Stand-Alone Cell Therapy Leadership In Vivo
Leveraging Stand-Alone Cell Therapy Leadership In Vivo TaVec (T-Cell Activation Vector) design and mechanism of action TARGET • Oncology and autoimmune indications Mechanism of Action/Scientific Rationale • Cocal glycoprotein in TaVec platform T cell • Provide T cell specificity, activation and safe
Slide 13: Capitalizing on Cell Therapy Leadership for Long-Term Growth
Capitalizing on Cell Therapy Leadership for Long-Term Growth MARKET LEADING CAR-T IN MM ROBUST PIPELINE STRONG FINANCIAL POSITION 10 Pipeline Programs $439 million • Hematologic Malignancies Net Trade Sales for 2Q 2025 Now the highest selling CAR-T in • Solid Tumors a single quarter • Autoimmune Dis
Slide 14: Alan Bash
Alan Bash President of CARVYKTI® 14 This presentation is for investor relations purposes only - not for product promotional purposes
Slide 15: A New Standard for CAR-T Launches
A New Standard for CAR-T Launches CARVYKTI® - NOW THE HIGHEST ACHIEVED RECORD-BREAKING SELLING CAR-T THERAPY IN A Q U A R T E R LY S A L E S I N 1 2 SINGLE QUARTER WITH NTS QUARTERS CAGR of 80%1 WORLDWIDE SALES OF CAR -T THERAPIES, BY QUARTER OF LAU NCH (IN $MM) 500 Carvykti Kymriah Yescarta Tecartu
Slide 16: CARVYKTI Uptake Continues
CARVYKTI® Uptake Continues Continued market penetration, population in earlier lines of treatment represents significant opportunity for continued growth YoY Growth1 QoQ Growth2 CARVYKTI® Net Trade Sales ($MM) U.S. 114% 13% +136% growth to $439M in Q2’25 vs. $186M in Q2’24 500 OUS 305% 59% 450 Globa
Slide 17: Strong Momentum Across Supply and Demand Accelerates CARVYKTI's CAR-T Leadership in MM
Strong Momentum Across Supply and Demand Accelerates CARVYKTI’s CAR-T Leadership in MM Best-in-Class Manufacturing Demand Acceleration • On track for 10,000 Annualized Doses by YE • Unprecedented progression-free outcomes • US – Approval of new Raritan facility for ≥5 years for relapsed and refracto
Slide 18: Significant Opportunity to Reach More 2L+ MM Patients
Significant Opportunity to Reach More 2L+ MM Patients Total Addressable MM Market Opportunity Increasing Awareness for CAR-T of CARVYKTI® Teams at ATCs1 Frontline ~52k patients • Raise CART-4 data awareness • Outpatient opportunity education 2L to 4L ~80k patients Community Hematologists/Oncologists
Slide 19: Bringing CARVYKTI Closer to US Multiple Myeloma Patients
Bringing CARVYKTI® Closer to US Multiple Myeloma Patients Initial Site Type Early Community Channel Evolving Community Channel CAR-T Adoption CAR-T Adoption CAR-T Adoption 2022: 2025 YTD: 2026+: 44 sites 123 Sites Expanded reach to community 1 2 3 Academic Academic Centers & Academic Centers & Cente
Slide 20: Rapidly Expanding Access for Patients Outside the US
Rapidly Expanding Access for Patients Outside the US 2024 YTD 2025 New Markets Launched New Markets Launched • CARTITUDE-4 Overall Germany Switzerland Denmark Sweden Belgium Survival added to EU Label • 213 Global Activated Treatment Sites Spain Israel UK Austria Brazil Portugal* Australia* * Regula
Slide 21: Jessie Yeung
Jessie Yeung Interim Chief Financial Officer 21 This presentation is for investor relations purposes only - not for product promotional purposes
Slide 22: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights IFRS Total Revenue (in $MM) IFRS Net Loss Adjusted Net Income/(Loss) 1 (in $MM) (in $MM) 0 12 250 -18 -20 10 200 -40 8 6 150 255 -60 10 4 187 -80 100 2 -125 -100 0 50 -120 -3 -2 Q2 Q2 -140 Q2 Q2 -4 Q2 Q2 2024 2025 2024 2025 2024 2025 IFRS Net Loss Per Share Adjusted Net
Slide 23: Focused Investments in Commercialization and Pipeline
Focused Investments in Commercialization and Pipeline 2Q 2025 Operating Expenses ($MM) Q2 2025 OpEx Remained Flat vs. Q2 2024 120 o Research and development (R&D) spend was $98.3 million due to continuous R&D activities with: 100 o Two ongoing frontline studies for cilta-cel o Three US IND enabling
Slide 24: 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 ~$1B cash position Multiple Myeloma efficiency CAR-T therapies Continued margin Expanding capacity e
Slide 25: Q&A
Q&A Ying Huang, Ph.D. Jessie Yeung Chief Executive Officer Interim Chief Financial Officer Alan Bash Guowei Fang, Ph.D. Mythili Koneru, M.D., Ph.D. President of CARVYKTI® President of Research Chief Medical Officer and Development 25 This presentation is for investor relations purposes only - Not fo
Slide 26: Thank you!
Thank you! 26 This presentation is for investor relations purposes only - Not for product promotional purposes
Slide 27: Reconciliation of IFRS to Non-IFRS Metrics
Reconciliation of IFRS to Non-IFRS Metrics Three months ended June 30, ($ in thousands, except per share data) 2025 2024 Net loss (125,380) (18,196) Depreciation and amortization 5,854 5,369 Share-based compensation 18,697 21,739 Impairment loss — — Unrealized foreign exchange loss/(gain) (included