Legend Biotech Corp
LEGNBuild a strategy around LEGN
Legend Biotech Corp AI Insights
Informational only. Not investment advice.Snapshot
- R&D spend of 418M TTM is 46% of revenue - 3x industry median intensity, funding CAR-T pipeline expansion[Research and Development TTM]
- 5Y revenue CAGR of 87.5% vs industry median 9% - commercialization of Carvykti driving hypergrowth[Total Revenue 5Y Growth]
- Gross margin 60.6% TTM vs industry median 51% with negative operating margin (-20.8%) - scale not yet achieved[Gross Margin TTM]
Watch Triggers
- Gross Margin TTM: Falls below 55% — Manufacturing scale economics failing - path to profitability extends significantly
- Cash and Equivalents: Drops below 150M — Dilutive equity raise becomes imminent, materially impacting per-share value
- Total Revenue TTM: Quarterly growth decelerates below 30% YoY — Carvykti demand plateau would invalidate operating leverage thesis
Bull Case
87.5% 5Y revenue CAGR with 60.6% gross margins - rare biotech achieving commercial scale with CAR-T therapy. Operating leverage should emerge as Carvykti volumes grow.
808M working capital and 279M cash with only 36M net debt provides 2+ years runway to reach profitability without dilutive financing.
Bear Case
Burning 189M FCF TTM with negative EBITDA (-176M). At current burn rate, 279M cash lasts ~18 months without profitability improvement or capital raise.
P/S of 4.5x on unprofitable biotech with single-product concentration risk. EV of 4.3B requires sustained hypergrowth to justify.
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
Leverage LEGN's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.
Forward Thesis
Path to profitability hinges on Carvykti revenue scaling faster than R&D burn rate
- Revenue 909M growing 87.5% CAGR
- Operating loss narrowing as fixed costs spread
- Manufacturing capacity expansion underway
Valuation Context
Caveats
Public Strategies Rankings
See how Legend Biotech Corp ranks across different investment strategies.
Leverage LEGN's top insights and create a custom strategy in seconds. Our AI editor does it all — in one click.
LEGN Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$3.32B | — | ||
$2.84B | — | ||
0.00 | — | ||
$1.03B | +64.0% | — | |
$-1.62 | — | ||
-13.3% | +35.1% | — | |
-28.9% | -0.6% | — | |
$-128.8M | — | ||
-29.1% | -13.6% | — | |
Beta 5Y (Monthly) | unknown | — |
LEGN Dividend History
LEGN Stock Splits
LEGN SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
03/10/26 | 12/31/25 | 20-F | |
11/12/25 | 09/30/25 | 6-K | |
08/11/25 | 06/30/25 | 6-K | |
05/13/25 | 03/31/25 | 6-K | |
03/11/25 | 12/31/24 | Unknown | |
11/12/24 | 09/30/24 | 6-K | |
08/09/24 | 06/30/24 | 6-K | |
05/13/24 | 03/31/24 | 6-K | |
03/19/24 | 12/31/23 | 20-F | |
11/20/23 | 09/30/23 | 6-K | |
08/15/23 | 06/30/23 | 6-K | |
05/18/23 | 03/31/23 | 6-K | |
03/30/23 | 12/31/22 | 20-F | |
09/30/22 | 09/30/22 | Unknown | -- |
02/17/23 | 06/30/22 | 6-K | |
07/25/22 | 03/31/22 | 6-K | |
03/31/22 | 12/31/21 | 20-F | |
12/14/21 | 09/30/21 | 6-K | |
08/23/21 | 06/30/21 | 6-K | |
05/18/21 | 03/31/21 | 6-K | |
02/17/23 | 03/31/21 | 6-K/A | |
04/02/21 | 12/31/20 | 20-F | |
11/16/21 | 09/30/20 | 6-K | |
11/16/20 | 09/30/20 | 6-K | |
08/31/20 | 06/30/20 | 6-K | |
06/08/20 | 03/31/20 | 424B4 | |
06/08/20 | 12/31/19 | 424B4 | |
11/16/20 | 09/30/19 | 6-K | |
08/31/20 | 06/30/19 | 6-K | |
06/08/20 | 03/31/19 | 424B4 |