Morningstar

Legend Biotech Shares Rise After Swinging to 2Q Profit, Higher Revenue

Provided by Dow Jones Aug 11, 2026, 8:56:00 PM

By Grace Yoon

Shares of Legend Biotech rose after the biopharmaceutical company swung to a second quarter profit and posted higher revenue.

The stock was up 6.4% to $22.06 in late morning trading on Tuesday, and is now up 1.5% this year.

The company posted net income of $33.2 million, or 9 cents a share, compared with a loss of $125.4 million, or 34 cents a share, a year earlier.

Revenue rose to $387.5 million from $255.1 million, driven by sales of Carvykti, an immunotherapy used to treat cancer of the bone marrow, known as multiple myeloma. Analysts polled by FactSet expected $356 million.

Interim Chief Executive Alan Bash said Carvykti expanded globally during the quarter and commercial momentum of Carvykti provided the foundation to advance a diversified portfolio of cell therapies.

Write to Grace Yoon at grace.yoon@wsj.com

(END) Dow Jones Newswires

August 11, 2026 11:56 ET (15:56 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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