Brief News: Legend Biotech's revenue grew strongly in the fourth quarter
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Legend Biotech Corporation announced that thanks to the growth of the ciltacabtagene autoleucel cancer therapy, fourth-quarter revenue increased by 64% year-on-year to $306 million, driving the company to achieve an adjusted profit of $2.5 million. Revenue from the collaboration with Janssen grew by 65%, with the drug launched in 14 markets and expected to become profitable by 2025. Under GAAP, the fourth-quarter loss was $30.9 million. On Tuesday, the stock price rose by 2.2%, closing at $19.56
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