Legend Biotech (LEGN) Tops Q4 EPS by 6c, Revenues Beat
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Legend Biotech (NASDAQ: LEGN) reported Q4 EPS of ($0.22), $0.06 better than the analyst estimate of ($0.28). Revenue for the quarter came in at $40.78 million versus the consensus estimate of $13 million.
“This was a defining year for Legend Biotech, as we achieved important pipeline advancements and completed our initial public offering and Nasdaq listing,” said Ying Huang, PhD, CEO and CFO of Legend Biotech. “Despite the challenges presented by the COVID-19 pandemic, we have achieved a strong 2020 and are continuing this momentum with significant advancements planned for our oncology pipeline during 2021. Through our collaboration with Janssen Biotech, Inc. (Janssen)*, in 2020, we initiated a global Phase 3 study and expanded the multi-cohort Phase 2 study as part of a comprehensive clinical development program for ciltacabtagene autoleucel (cilta-cel), including as an earlier lines of multiple myeloma treatment. In 2021, we expect to achieve important milestones in advancing the regulatory approval process for cilta-cel.”
*In December 2017, Legend Biotech entered into an exclusive worldwide license and collaboration agreement with Janssen Biotech, Inc. to develop and commercialize cilta-cel.
For earnings history and earnings-related data on Legend Biotech (LEGN) click here.
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