Legend Biotech Shares Surge on Strong Commercial and Manufacturing Momentum

Legend Biotech Corp US52490G1022

Investors drove shares of cell therapy specialist Legend Biotech Corp significantly higher following a series of positive updates at the J.P. Morgan Healthcare Conference. The company's stock advanced 7.6% as management detailed key operational milestones and an expanded manufacturing footprint for its flagship cancer treatment, CARVYKTI.

A primary catalyst for the market's optimism is the completion of a major expansion at Legend Biotech's manufacturing facility in Raritan. The site is now recognized as the largest cell therapy manufacturing plant in the United States. With this increased capacity, the company is positioned to produce enough CARVYKTI to treat up to 10,000 patients annually.

On the commercial front, the therapy for multiple myeloma has already been administered to more than 10,000 patients worldwide. Furthermore, regulatory agencies have granted critical label expansions. Both the U.S. Food and Drug Administration (FDA) and the European Commission have approved the inclusion of overall survival benefit data for CARVYKTI versus standard treatments in the official prescribing information. This update, backed by clinical evidence, is expected to enhance physician adoption and accelerate market penetration.

Financial Foundation and Path to Profitability

The company reinforced its clear financial roadmap during the presentation. Legend Biotech is targeting profitability for its CARVYKTI business segment by the end of the fiscal year 2025, with full corporate profitability anticipated in 2026. This goal is supported by a robust balance sheet; as of September 30, 2025, the firm held approximately $1.0 billion in cash and liquid assets, providing a financial runway that extends beyond 2026.

Global commercialization efforts continue to progress, with the treatment now available at over 279 sites across 14 markets as of 2025. Additional international expansion steps are planned for the coming year.

Pipeline Development Ensures Long-Term Strategy

Beyond the current commercial success, Legend Biotech is advancing its research pipeline to ensure sustained growth. The company recently inaugurated a state-of-the-art cell therapy research and development center in Philadelphia. This facility will focus on broadening the company's portfolio in oncology and immunology.

Looking ahead, initial clinical data from a novel, dual-targeting cell therapy platform are expected in the second half of 2026. During the same period, Legend Biotech plans to submit several investigational new drug applications to regulatory authorities. These planned advancements highlight a diversified strategy aimed at delivering long-term value.