Legend Biotech Corporation filed a Form 6-K on November 10, 2026, furnishing unaudited interim condensed consolidated financial statements and management's discussion and analysis for the three and nine months ended September 30, 2026.

Key Highlights

  • Total revenue nearly doubled year over year: Legend Biotech reported total revenue of $1,052.1 million for the nine months ended September 30, 2026, compared with $722.5 million for the same period in 2025, according to the filing.
  • Swing to profitability: The company recorded net income of $30.6 million for the nine months ended September 30, 2026, versus a net loss of $266.0 million for the nine months ended September 30, 2025.
  • Third-quarter revenue: Total revenue for the three months ended September 30, 2026 was $359.5 million, up from $272.4 million in the same quarter of 2025.
  • Collaboration revenue was the primary driver: Collaboration revenue for the nine months ended September 30, 2026 reached $977.7 million, compared with $667.1 million for the same period in 2025.
  • Strengthened balance sheet: Total equity increased to $1,272.7 million as of September 30, 2026, from $1,002.1 million at December 31, 2025, with the company completing an issuance of ordinary shares generating net proceeds of $211.6 million.
  • Research and development expenses declined: R&D expenses for the nine months ended September 30, 2026 were $277.0 million, down from $313.4 million for the comparable period in 2025.

Legend Biotech's Financial Results for the Nine Months Ended September 30, 2026

Legend Biotech Corporation (NASDAQ:LEGN), a clinical-stage biopharmaceutical company, reported a significant improvement in financial results for the nine months ended September 30, 2026. According to the filing, total revenue rose to $1,052.1 million from $722.5 million in the first nine months of 2025, with collaboration revenue accounting for the large majority of that total at $977.7 million. License and other revenue contributed an additional $74.4 million for the nine-month period, compared with $55.4 million a year earlier.

The company disclosed operating income of $54.7 million for the nine months ended September 30, 2026, a turnaround from an operating loss of $116.9 million in the comparable 2025 period. Cost of collaboration revenue increased to $458.4 million from $277.6 million year over year, reflecting higher activity levels, while selling and distribution expenses rose to $168.5 million from $141.6 million. Administrative expenses fell to $87.8 million from $98.8 million, and R&D expenses declined to $277.0 million from $313.4 million, as the filing reported.

On the balance sheet, the filing showed total assets of $1,681.4 million as of September 30, 2026. Cash and cash equivalents stood at $460.7 million, with time deposits of $391.8 million, compared with cash and cash equivalents of $901.9 million and time deposits of $46.7 million at December 31, 2025. Total liabilities decreased to $408.7 million from $731.6 million at year-end 2025, in part reflecting a reduction in collaboration interest-bearing advanced funding from $319.1 million to $44.1 million. The company raised $211.6 million in net proceeds from an issuance of ordinary shares during the nine-month period, according to the statements of changes in equity. Basic and diluted earnings per share for the nine months ended September 30, 2026 were each $0.08, compared with a basic and diluted loss per share of $0.72 for the nine months ended September 30, 2025. The filing was signed by Ingrid Zhang, Chief Executive Officer.

What Was Disclosed

Legend Biotech filed a Form 6-K on November 10, 2026, covering unaudited financial results for the three and nine months ended September 30, 2026. The filing included financial statements, a press release, and management's discussion and analysis as exhibits, all incorporated by reference into the company's existing registration statements.