Legend Biotech 2024: Carvykti Sales Reach $963 Million

On March 11, 2025, Legend Biotech (NASDAQ: LEGN) announced its financial results for the fourth quarter and full year ending December 31, 2024, as well as key company highlights from Somerset, New Jersey, USA.

The net trade sales of CARVYKTI? in the fourth quarter and full year of 2024 were approximately $334 million and $963 million, respectively. To date, more than 5,000 patients have received treatment. The commercialization of CARVYKTI? has commenced at Novartis’ manufacturing facility. Spain's National Health System has approved CARVYKTI? for reimbursement in the second-line+ setting for multiple myeloma patients. As of December 31, 2024, cash, cash equivalents, and term deposits totaled $1.1 billion, which Legend Biotech believes will provide financial runway through the second quarter of fiscal year 2026, when the company expects to potentially achieve operating profit, excluding unrealized foreign exchange gains and losses.

Legend Biotech CEO Dr. Ying Huang stated: “We have had a very successful year. Our total revenue in 2024 has nearly reached blockbuster status, and we have just begun to unlock many opportunities with CARVYKTI?. There are more milestones ahead that may allow CARVYKTI? to serve even more patients. CARVYKTI? has already helped thousands of multiple myeloma patients. Although CARVYKTI? is the market leader in CAR-T therapy for multiple myeloma, we continue to work tirelessly to enhance our commercial, manufacturing, regulatory, and clinical efforts. While we have focused this year on delivering exceptional execution for CARVYKTI?, we remain committed to making the right investments to expand our long-term opportunities as an independent cell therapy company.”

Positive data from the three-year follow-up of the Phase 3 CARTITUDE-4 study has been released. The data shows that compared to standard treatments, CARVYKTI? significantly improved minimal residual disease (MRD) negativity rates in patients with relapsed or refractory multiple myeloma. Among evaluable patients, 89% achieved MRD negativity at the 10?? threshold, with most patients reaching MRD negativity within two months.