Legend Biotech (LEGN) Q4 2024 Earnings Transcript

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Tuesday, March 11, 2025 astatine 8 a.m. ET

• Chief Executive Officer — Ying Huang

• Interim Chief Financial Officer — Jessie Yeung

• President of CARVYKTI — Alan Bash

• President of R&D — Guowei Fang

• Chief Medical Officer — Mythili Koneru

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Ying Huang, the company's Chief Executive Officer; and Jessie Yeung, the company's Interim Chief Financial Officer. Following the prepared remarks, we volition unfastened up the telephone for Q&A. We person our President of CARVYKTI, Alan Bash; President of R&D, Guowei Fang; and Chief Medical Officer, Mythili Koneru, joining the Q&A session. During today's call, we volition beryllium making forward-looking statements, which are taxable to risks and uncertainties that whitethorn origin our existent results to disagree materially from those expressed oregon implied present within. These forward-looking statements are discussed successful greater item successful our SEC filings, which we promote you to work and tin beryllium recovered nether the Investors conception of our institution website.

In addition, adjusted nett nonaccomplishment is simply a non-IFRS metric. This non-IFRS fiscal measurement is successful summation to, and not a substitute for, oregon superior to measures of fiscal show prepared successful accordance with IFRS. There are a fig of limitations related to the usage of these non-IFRS fiscal measures versus their closest IFRS equivalents. However, we judge that providing accusation concerning adjusted nett nonaccomplishment and adjusted nett nonaccomplishment per stock enhances an investor's knowing of our fiscal performance. We usage adjusted nett nonaccomplishment arsenic a show metric that guides absorption successful its cognition of and readying for the aboriginal of the business.

We judge that adjusted nett nonaccomplishment provides a utile measurement of our operating show from period-to-period by excluding definite items that we judge are not typical of our halfway business. Our property merchandise includes IFRS to non-IFRS reconciliations for these measures. With that, I volition present crook the telephone implicit to Ying.

Ying Huang: Hello, everyone. I’m gladsome that you're capable to articulation america and perceive astir our caller accomplishments arsenic the largest standalone compartment therapy company. As you tin spot connected Slide 6, we person been executing against our strategical priorities, paving the mode for america to execute blockbuster presumption and operational breakeven for CARVYKTI by the extremity of 2025 and anticipated company-wide profitability successful 2026, excluding unrealized overseas speech gains oregon losses. I would similar to commencement by expanding connected CARVYKTI's unsocial profile, which is the archetypal and lone CAR-T successful aggregate myeloma to clinically show a endurance payment versus standard-of-care.