By Fineline Cube 
China-based Legend Biotech Corporation (NASDAQ: LEGN) released its Q1 2025 financial report, highlighting significant revenue contributions from its BCMA-targeted CAR-T therapy Carvykti (ciltacabtagene autoleucel). The therapy generated net sales of USD 369 million during the quarter and has treated over 6,000 patients to date.
Financial Highlights
- License Revenue: USD 9.3 million, a decrease from USD 12.2 million in the same period last year. This decline is attributed to revenue recognized under the license agreement with Novartis for LB2102 and other DLL-3 targeted CAR-T therapies. Revenue is recognized over time as Legend Biotech conducts a Phase I clinical trial for LB2102.
- Collaboration Revenue: USD 185.6 million, up from USD 78.5 million in the first quarter of 2024. This increase is primarily due to higher revenue generated from Carvykti sales under the collaboration and license agreement with Janssen.
- Net Loss: USD 100.9 million.-Fineline Info & Tech