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1 Second Quarter 2025 Financial Results & Corporate Update August 11, 2025 This presentation is for investor relations purposes only - Not for product promotional purposes
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Opening Remarks Q2 2025 Highlights & Recent Accomplishments Our Pipeline Capitalizing on Market Leadership CARVYKTI® Performance Overview Financial Performance Q&A Agenda 1 2 3 4 5 6 7 2 This presentation is for investor relations purposes only - Not for product promotional purposes
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Ying Huang, PhD Chief Executive Officer Jessie Yeung Interim Chief Financial Officer 3 This presentation is for investor relations purposes only - not for product promotional purposes Alan Bash President of CARVYKTI®
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Forward-looking Statements This presentation has been prepared by Legend Biotech Corporation (“Legend Biotech” or the “Company”) solely for information purpose and does not contain all relevant information relating to the Company. The safety and efficacy of the agents and/or uses under investigation discussed in this presentation have not been established, except to the extent specifically provided by marketing authorizations previously received from relevant health authorities. Further, for investigational agents and/or uses, the Company cannot guarantee health authority approval or that such agents and/or uses will become commercially available in any country. Certain information contained in this presentation and statements made orally during this presentation relate to or are based on studies, publications, surveys and other data obtained from third-party sources and Legend Biotech's own internal estimates and research. While Legend Biotech believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third -party sources. While Legend Biotech believes its internal research is reliable, such research has not been verified by any independent source. Statements in this presentation about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to Legend Biotech’s strategies and objectives; statements relating to CARVYKTI® (ciltacabtagene autoleucel; cilta- cel), including patient population of CARVYKTI®, Legend Biotech’s expectations for CARVYKTI®, including manufacturing expectations for CARVYKTI®; and statements about regulatory submissions for CARVYKTI®, statements related to Legend Biotech's ability to achieve operating profit; statements related to Legend Biotech’s ability to fund its operations into 2026 and Legend Biotech’s anticipated profitability excluding unrealized foreign exchange losses in 2026; the progress of such submissions with the FDA, the EMA and other regulatory authorities; expected results and timing of clinical trials; Legend Biotech’s expectations on advancing its pipeline and product portfolio, including TaVec; and the potential benefits of Legend Biotech’s product candidates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward- looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Legend Biotech’s expectations could be affected by, among other things, uncertainties involved in the development of new pharmaceutical products; unexpected clinical trial results, including as a result of additional analysis of existing clinical data or unexpected new clinical data; unexpected regulatory actions or delays, including requests for additional safety and/or efficacy data or analysis of data, or government regulation generally; unexpected delays as a result of actions undertaken, or failures to act, by our third party partners; uncertainties arising from challenges to Legend Biotech’s patent or other proprietary intellectual property protection, including the uncertainties involved in the U.S. litigation process; competition in general; government, industry, and general product pricing and other political pressures; as well as the other factors discussed in the “Risk Factors” section of Legend Biotech’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission (SEC) on March 11, 2025 and Legend Biotech’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this presentation as anticipated, believed, estimated or expected. Any forward-looking statements contained in this presentation speak only as of the date of this presentation. Legend Biotech specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. 4 This presentation is for investor relations purposes only - Not for product promotional purposes
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5 Non-IFRS financial metrics This presentation refers to certain non-IFRS financial metrics. We use Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share (which we sometimes refer to as “Adjusted EPS”, or “ANI per Share”, respectively) as performance metrics. Adjusted Net Income (Loss) and ANI per Share are not defined under IFRS, are not a measure of operating income, operating performance, or liquidity presented in accordance with IFRS, and are subject to important limitations. Our use of Adjusted Net Income (Loss) has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under IFRS. For example: (i) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted Net Income (Loss) does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; (ii) Adjusted Net Income (Loss) excludes unrealized foreign exchange gain (loss) which was primarily resulted from changes in the intercompany loan balances and cash balances as a result of exchange rate changes between USD and EURO; (iii) Adjusted Net Income (Loss) does not reflect changes in, or cash requirements for, our working capital needs; and (iv) Adjusted Net Income (Loss) excludes such as share based compensation expense, which has been, and will continue to be fore the foreseeable future, a significant recurring expense for our business and an important part of our compensation strategy. Also, our definition of Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per share may not be the same as similarly titled measures used by other companies. However, we believe that providing information concerning Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share enhances an investor’s understanding of our financial performance. We use Adjusted Net Income (Loss) as a performance metric that guides management in its operations of planning for the future of the business. We believe that Adjusted Net Income (Loss) provides a useful measure of our operation performance from a period to period by excluding certain items that we believe are not representative of our core business. We define Adjusted Net Income (Loss) as net income (loss) adjusted for (1) non-cash items such as depreciation and amortization, share-based compensation, and impairment loss and (2) unrealized foreign exchange gain or loss mainly related to intercompany loan balances and cash deposit balances as a result of exchange rate changes between USD and EUR. Adjusted Net Income (Loss) per Share is computed by dividing Adjusted Net Income (Loss) by the weighted average shares outstanding. Reconciliations of Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Share to the most directly comparable IFRS measures are included at the end of this presentation. 5 This presentation is for investor relations purposes only - Not for product promotional purposes
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6 Ying Huang, PhD Chief Executive Officer 6 This presentation is for investor relations purposes only - not for product promotional purposes
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7 7 This presentation is for investor relations purposes only - Not for product promotional purposes Q2 2025 Highlights & Recent Accomplishments • CARVYKTI® Net Trade Sales of $439M • 136% YoY growth, driven by continued share gains and capacity expansion • >7,500 clinical and commercial patients treated to date • FDA approved a supplemental BLA for CARVYKTI to remove the risk evaluation and mitigation strategy (REMS) • Product labeling was updated to align with REMS elimination, also reductions of certain patient monitoring requirements • Appointed Peter Salovey, Ph.D. as Lead Independent Director 1. 2025 American Society of Clinical Oncology (ASCO) Annual Meeting 2. MM = Multiple Myeloma • Presented CARTITUDE-1 analysis demonstrating 1/3 of patients with relapsed and refractory MM2 remained progression-free for ≥5 years with no maintenance therapy • Based on Phase 3 CARTITUDE-4 study subgroup analyses, CARVYKTI delivered positive clinical outcomes for patients with high-risk cytogenetics • In a Phase 1 study, LB1908 demonstrated encouraging antitumor activity with a manageable safety / tolerability profile • In a Phase 1 dose-escalating study evaluating LB2102, no dose-limiting toxicities were reported, and a preliminary efficacy signal was observed up to four dose levels Q2 2025 Highlights Select Presentations at ASCO1
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8 CARVYKTI is the first MM CAR-T to show long-term survival 8 This presentation is for investor relations purposes only - Not for product promotional purposes CARTITUDE-1: ≥5-year remission and survival after treatment with CARVYKTI Among these 32 patients: Median age 60 years # of prior lines of therapy (LOT) 6.5 (range, 3-14) HR cytogenetics 23.3% Extramedullary disease 12.5% Triple class refractory 90.6% Penta drug refractory 46.9% Of 97 patients treated, 32 (33%) remained alive and progression free for ≥5 years after CARVYKTI, without further multiple myeloma treatment • For these 32 patients, prior to enrollment in CARTITUDE- 1, median time from start of last LOT to progression was 4 months (range, 0.7–48.6). • Overall, at 61.3 month median follow-up in CARTITUDE-1 (N=97), median OS was 60.7 months (95% CI, 41.9–NE). 1. Jagannath, Sundar, et al. “Long-Term (≥5-Year) Remission and Survival After Treatment With Ciltacabtagene Autoleucel in CARTITUDE-1 Patients With Relapsed/Refractory Multiple Myeloma.” Journal of Clinical Oncology; https://doi.org/10.1200/JCO-25-00760 “These results...are remarkable, given the historically dismal prognosis for this population.” – Dr. Sundar Jagannath1
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9 CARVYKTI improved PFS and OS across CARTITUDE-4 subgroups 9 This presentation is for investor relations purposes only - Not for product promotional purposes 1. Sidana, Surbhi, et al. “Ciltacabtagene Autoleucel (Cilta-cel) vs Standard of Care (SOC) in Patients (Pts) with Relapsed/Refractory Multiple Myeloma (MM): CARTITUDE-4 Survival Subgroup Analyses.” American Society of Clinical Oncology (ASCO) Annual Meeting; May 30–June 3, 2025. CARVYKTI consistently improved progression free survival (PFS) and overall survival (OS) compared with standard of care (SOC) in patients with standard risk and high risk1 Kaplan-Meier analysis of patients with standard-risk and high-risk cytogenetics
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10 Leveraging Learnings to Further Improve CARVYKTI’s Profile 10 This presentation is for investor relations purposes only - Not for product promotional purposes MANAGING NEUROLOGIC EVENTS1 PREDICTING NEUROLOGIC EVENTS1 • Identifying high tumor burden and/or rapidly progressive disease • Using effective bridging therapy • Monitoring ALC levels and intervening with dexamethasone • Investigating additional approaches • Evaluating various management approaches including, but not limited to: • Administering cyclophosphamide • Administering intrathecal chemotherapy 1. Neurologic events include Movement and Neurocognitive treatment-emergent adverse events and Cranial Nerve Palsy. MITIGATING NEUROLOGIC EVENTS1
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11 *In collaboration with Janssen, Pharmaceutical Companies of Johnson & Johnson. †Phase 1 investigator-initiated trial. ‡IND applications have been cleared by the U.S. FDA. #Subject to an exclusive license agreement with Novartis Pharma AG. The safety and efficacy of the agents and/or uses under investigation have not been established. There is no assurance that the agents will receive health authority approval or become commercially available in any country for the uses being investigated. Additionally, as some programs are still confidential, certain candidates may not be included in this list. INDICATIONS: ALL: acute lymphoblastic leukemia; LCNEC: large cell neuroendocrine carcinoma; MM: multiple myeloma; NDMM: newly diagnosed multiple myeloma; NHL: non-Hodgkin lymphoma; RRMM: relapsed or refractory multiple myeloma; SCLC: small cell lung cancer TARGETS: BCMA: B-cell maturation antigen; DLL3: delta-like ligand 3; GCC: guanylyl cyclase C; GPRC5D: G-protein coupled receptor, family C, group 5, member D Autologous Therapies BCMA-directed Autologous Therapy P H A S E 2 P H A S E 3 LEGEND-2† RRMM NCT03090659 CARTIFAN-1* RRMM NCT03758417 CARTITUDE-1* RRMM NCT03548207 CARTITUDE-2* MM NCT04133636 CARTITUDE-4* RRMM 1-3 Prior Lines NCT04181827 CARTITUDE-5* NDMM Transplant Not Intended NCT04923893 CARTITUDE-6* NDMM Transplant Eligible NCT05257083 Ciltacabtagene Autoleucel Clinical Studies P H A S E 1 P H A S E 1 GASTRIC & PANCREATIC‡ (CLAUDIN 18.2) SCLC & LCNEC‡# (DLL3) COLORECTAL† (GCC) Additional Pipeline Assets Allogeneic Therapies NHL† (CD19 X CD20) CAR-γδ T NHL† (CD20) CAR-αβ T MM† (BCMA) CAR-NK MM † (CD19 X GPRC5D), (GPRC5D) AUTOIMMUNE † (CD19 X CD20 X CD22) AUTOIMMUNE (CD19 X BCMA) (CD19 X CD70) Our Pipeline In Vivo Therapies NHL† (CD19 X CD20) This presentation is for investor relations purposes only - Not for product promotional purposes
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12 Leveraging Stand-Alone Cell Therapy Leadership In Vivo 12 This presentation is for investor relations purposes only - Not for product promotional purposes TaVec (T-Cell Activation Vector) design and mechanism of action TARGET • Oncology and autoimmune indications Clinical Development Strategy • First few patients dosed for IIT studies in 2025 • Multiple US-IND enabling studies planned for oncology indications Mechanism of Action/Scientific Rationale • Cocal glycoprotein in TaVec platform • Provide T cell specificity, activation and safety • Mutations in glycoprotein to block transduction of non-T cells T cell engager 1 1. Low-Density Lipoprotein Receptor
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13 Capitalizing on Cell Therapy Leadership for Long-Term Growth 13 This presentation is for investor relations purposes only - Not for product promotional purposes MARKET LEADING CAR-T IN MM ROBUST PIPELINE STRONG FINANCIAL POSITION H 10 Pipeline Programs • Hematologic Malignancies • Solid Tumors • Autoimmune Diseases State-of-the-art R&D facility opening soon in Philadelphia Partnership with Novartis for CAR-T therapies selectively targeting DLL3 $439 million Net Trade Sales for 2Q 2025 Cash position of ~$1 billion as of 6/30/2025 • Strong balance sheet • Improving gross margins • Expected profitability in 2026 Now the highest selling CAR-T in a single quarter First and only CAR-T therapy for MM with meaningful progression free outcomes of ≥5 years Ongoing global launch with expansion into new markets 1. Net Trade Sales Compound Annual Growth Rate from CARVYKTI launch through Q2 2025
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14 14 This presentation is for investor relations purposes only - not for product promotional purposes Alan Bash President of CARVYKTI®
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15 15 15 A New Standard for CAR-T Launches This presentation is for investor relations purposes only - Not for product promotional purposes CARVYKTI ® - NOW THE HIGHEST SELLING CAR -T THERAPY IN A SINGLE QUARTER WITH NTS CAGR of 80% 1 ACHIEVED RECORD -BREAKING QUARTERLY SALES IN 12 QUARTERS Quarters since launch Quarterly sales ($MM) Data Source: Companies' public filings. 0 50 100 150 200 250 300 350 400 450 500 Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12 Q13 Q14 Q15 Q16 Q17 Q18 Q19 Q20 Q21 Q22 Q23 Q24 Q25 Q26 Q27 Q28 Q29 Q30 Q31 W O R L D W I D E S A L E S O F C A R- T T H E R A P I E S , B Y Q U A R T E R O F L A U N C H ( I N $ M M ) Carvykti Kymriah Yescarta Tecartus Breyanzi Abecma 439 344 386 99 7887 1. Net Trade Sales Compound Annual Growth Rate from CARVYKTI launch through Q2 2025
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→ U.S. QoQ growth of 13% primarily driven by: • Continued strong demand with nearly 60% utilization in earlier line settings → OUS QoQ growth of 59% primarily driven by: • Launch uptake in 11 markets Continued market penetration, population in earlier lines of treatment represents significant opportunity for continued growth 16 CARVYKTI® Uptake Continues 1. Q2 2025 vs Q2 2024; 2. Q2 2025 vs Q1 2025 This presentation is for investor relations purposes only - Not for product promotional purposes +136% growth to $439M in Q2’25 vs. $186M in Q2’24 CARVYKTI® Net Trade Sales ($MM) U.S. OUS 24 55 55 70 114 140 146 140 167 258 304 318 358 0 0 0 2 3 12 13 16 20 27 31 51 81 0 50 100 150 200 250 300 350 400 450 500 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 YoY Growth1 QoQ Growth2 U.S. 114% 13% OUS 305% 59% Global 136% 19%
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17 1717 Strong Momentum Across Supply and Demand Accelerates CARVYKTI’s CAR-T Leadership in MM This presentation is for investor relations purposes only - Not for product promotional purposes • On track for 10,000 Annualized Doses by YE • US – Approval of new Raritan facility section in 2H 2025 • OUS – Initiation of commercial production at Tech Lane in 2H 2025 • Manufacturing Efficiency Enhancements • 97% Manufacturing Success Rate • Improved OOS1 Rates • TAT2 reduced to median 30 days, in line with bridging protocols Best-in-Class Manufacturing Demand Acceleration • Unprecedented progression-free outcomes for ≥5 years for relapsed and refractory MM patients1 • Demonstrated overall survival benefit • REMS modifications that improve quality of life for CARVYKTI patients • 123 US Treatment Sites Activated • Recent OUS launches 1. Voorhees, et al. ASCO; May 30 – June 3; Chicago, IL, USA, & Virtual. Abstract 7607 2. Out of Spec 3. Turn Around Time from apheresis to release
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18 18 Significant Opportunity to Reach More 2L+ MM Patients This presentation is for investor relations purposes only - Not for product promotional purposes Teams at ATCs1 • Raise CART-4 data awareness • Outpatient opportunity education Community Hematologists/Oncologists • Support referrals and transition of care • Expand access in community Patients • Educate patients and caregivers through multi-channel campaign Increasing Awareness of CARVYKTI® 1. ATCs= Authorized Treatment Centers Source: Company internal estimates. Total Addressable MM Market Opportunity for CAR-T 5L+ 2L to 4L Frontline ~52k patients ~80k patients ~22k patients
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19 19 Bringing CARVYKTI® Closer to US Multiple Myeloma Patients This presentation is for investor relations purposes only - Not for product promotional purposes Academic Centers & Affiliates Community/Regional Hospitals Community Practices & Networks Initial Site Type CAR-T Adoption Early Community Channel CAR-T Adoption Evolving Community Channel CAR-T Adoption Academic Centers & Affiliates Community/Regional Hospitals Academic Centers 1 2 3 2022: 44 sites 2025 YTD: 123 Sites 2026+: Expanded reach to community
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20 20 Rapidly Expanding Access for Patients Outside the US This presentation is for investor relations purposes only - Not for product promotional purposes 2024 New Markets Launched YTD 2025 New Markets Launched Denmark Spain Belgium Sweden Germany Switzerland Austria Brazil UK Israel Australia* • CARTITUDE-4 Overall Survival added to EU Label • 213 Global Activated Treatment Sites * Regulatory approval. Reimbursement and launch in planning phase. Portugal*
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21 21 This presentation is for investor relations purposes only - not for product promotional purposes Jessie Yeung Interim Chief Financial Officer
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22 22 This presentation is for investor relations purposes only - Not for product promotional purposes Q2 2025 Financial Highlights 187 255 50 100 150 200 250 -18 -125 -140 -120 -100 -80 -60 -40 -20 0 -0.01 0.03 -0.02 0.00 0.02 0.04 0.06 0.08 0.10 IFRS Total Revenue (in $MM) IFRS Net Loss (in $MM) Adjusted Net Income/(Loss) Per Share 1 Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 -0.05 -0.34 -0.40 -0.30 -0.20 -0.10 0.00 IFRS Net Loss Per Share Q2 2024 Q2 2025 -3 10 -4 -2 0 2 4 6 8 10 12 Adjusted Net Income/(Loss) 1 (in $MM) Q2 2024 Q2 2025 1. Adjusted Net Loss and Adjusted Net Loss per Share (on basic shares basis) are non-IFRS measures. Reconciliations of Adjusted Net Loss and Adjusted Net Loss Per Share to the most directly comparable IFRS measures are included at the end of this presentation. The definitions of these non-GAAP measures are at the beginning of this presentation.
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23 23 This presentation is for investor relations purposes only - Not for product promotional purposes Focused Investments in Commercialization and Pipeline Q2 2025 OpEx Remained Flat vs. Q2 2024 o Research and development (R&D) spend was $98.3 million due to continuous R&D activities with: o Two ongoing frontline studies for cilta-cel o Three US IND enabling programs o 13 ongoing IIT trials o Selling and distribution (S&D) spend was $48.1 million due to support of commercial activities for CARVYKTI , including expansion of the sales force to meet demand. o Administrative expenses was $32.6 million due to increased staffing related expenses offset by lower infrastructure expenses. Cash and cash equivalents, and time deposits of $1.0 billion 0 20 40 60 80 100 120 Research & Development Selling & Distribution Administrative 2Q 2025 Operating Expenses ($MM)
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24 Executing Toward Anticipated Company Wide Profitability in 2026 24 KEY DRIVERS COMMERCIAL Further expand market leadership in Multiple Myeloma CAR-T therapies Add overall survival to label MANUFACTURING Increasing manufacturing efficiency Expanding capacity for 10,000 annualized doses exiting 2025 FINANCIAL Scaling business with ~$1B cash position Continued margin expansion This presentation is for investor relations purposes only - Not for product promotional purposes
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25 Ying Huang, Ph.D. Chief Executive Officer Jessie Yeung Interim Chief Financial Officer Mythili Koneru, M.D., Ph.D. Chief Medical Officer Alan Bash President of CARVYKTI® 25 Q&A Guowei Fang, Ph.D. President of Research and Development This presentation is for investor relations purposes only - Not for product promotional purposes
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26 Thank you! This presentation is for investor relations purposes only - Not for product promotional purposes
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27 27 Reconciliation of IFRS to Non-IFRS Metrics This presentation is for investor relations purposes only - Not for product promotional purposes Three months ended June 30, ($ in thousands, except per share data) 2025 2024 Net loss (125,380) (18,196) Depreciation and amortization 5,854 5,369 Share-based compensation 18,697 21,739 Impairment loss — — Unrealized foreign exchange loss/(gain) (included in Other income/(expense), net) 110,920 (11,419) Adjusted net income/(loss) (ANI) 10,091 (2,507) ANI per share: ANI per share – basic 0.03 (0.01) ANI per share - diluted 0.03 (0.01) Financials under IFRS Earnings per share – basic (0.34) (0.05) Earnings per share – diluted (0.34) (0.05) Shares – basic 368,281,125 365,204,154 Shares - diluted 368,271,125 365,204,154