Legend Biotech Corporation: Initiation of Coverage – Can They Flourish In The Competitive CAR-T Therapy Market? 

This is our first report on biopharma player, Legend Biotech. The company’s Q4 earnings call displayed a balance of positive and negative performance aspects for the company. Starting with positive highlights, the outlook is promising for their lead therapy, CARVYKTI, which has received a positive opinion from the Committee for Medicinal Products for Human Use for expansion into earlier lines of treatment. This is significant as it’s the first CAR-T therapy to achieve this status in the second-line setting for patients with relapsed and lenalidomide-refractory multiple myeloma. Additionally, total net sales for Q4 2023 were $159 million with full-year sales totaling $0.5 billion, marking a significant increase from the previous quarter due to manufacturing efficiencies and capacity expansion.