Future

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<h3 id="key-highlights">Key Highlights</h3>
<ul>
 <li><strong>Revenue Surge:</strong> Legend Biotech Corporation (NASDAQ: LEGN) reported a significant increase in collaboration revenue, jumping to $75.9 million in Q3 2023 compared to $27.3 million in Q3 2022.</li>
 <li><strong>Earnings Per Share (EPS) Performance:</strong> The company reported a net loss of $0.17 per share for Q3 2023, an improvement over the $0.26 per share loss in Q3 2022.</li>
 <li><strong>Strategic Licensing Agreement:</strong> Legend Biotech entered into an exclusive global license agreement with Novartis, including a $100 million upfront payment and potential future milestones totaling $1.01 billion.</li>
</ul>
<p>Legend Biotech Corporation (NASDAQ: LEGN) marked a notable advancement in Q3 2023, primarily highlighted by a substantial increase in collaboration revenue. The reported figure of $75.9 million in Q3 2023 is a significant leap from the $27.3 million recorded in the same quarter of the previous year. This growth is attributed to the increased sales of CARVYKTI® under the Janssen Agreement.<br><br>Furthermore, the company strengthened its strategic position through an exclusive global license agreement with Novartis. This deal brings an immediate $100 million upfront payment and opens doors to future milestone payments totaling up to $1.01 billion, significantly bolstering Legend Biotech’s financial and strategic outlook.</p>
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<h3 id="financial-performance-comparing-eps-and-revenue-against-expectations">Financial Performance: Comparing EPS and Revenue against Expectations</h3>
<p>Legend Biotech reported an EPS of -$0.17, surpassing expectations of -$0.31. This performance indicates an improvement over the previous year’s Q3 EPS of -$0.26. Moreover, the company’s revenue for the quarter stood at $96.01 million, slightly under the anticipated $97.42 million. This slight shortfall in revenue is offset by the year-over-year growth and the potential future revenues stemming from the Novartis agreement.</p>
<h3 id="future-outlook-investment-in-research-and-operational-expansion">Future Outlook: Investment in Research and Operational Expansion</h3>
<p>Looking ahead, Legend Biotech is poised for further growth and innovation. With cash reserves of $1.4 billion, the company is well-positioned to fund its operations and capital expenditures through 2025. This financial stability enables continued investment in research and development, as evidenced by the $95.9 million spent in Q3 2023. Additionally, the company’s commitment to expanding its manufacturing capacity and administrative functions indicates a strategic focus on scaling up operations to meet the growing demand for its products, particularly CARVYKTI®.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/earnings-review-legend-bio-beats-expectations-novartis-deal-ups-revenue/">Earnings Review: Legend Bio Beats Expectations, Novartis Deal Ups Revenue</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Earnings Review: Legend Bio Beats Expectations, Novartis Deal Ups Revenue

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