Summary by Moomoo AI
On August 9th, 2024, Legend Biotech announced its unaudited financial performance for the second quarter of 2024, showing that the net trade sales of CARVYKTI® (cilta-cel) were approximately 0.186 billion US dollars. The UK Medicines and Healthcare Products Regulatory Agency (MHRA) and Health Canada have approved CARVYKTI® for use in the early treatment line of relapsed lenalidomide-refractory multiple myeloma in adult patients. In addition, the company stated that as of June 30, 2024, cash and cash equivalents, deposits and short-term investments reached $1.3 billion, and it is expected that these funds will provide financial reserves until 2026, and operating profits are expected to be achieved in 2026. Dr. Ying Huang, CEO of Legend Biotech, expressed his optimism about the development of CARVYKTI® and looks forward to Obelisc's Belgian factory starting commercial production to meet growing demand.