Legend Biotech Corp 6-K, filed May 18, 2023

Legend Biotech Corp (LEGN)

6-K 2023-05-18 For: 2023-05-18

Added on April 07, 2026

About this 6-K

Legend Biotech Corp filed this 6-K on May 18, 2023.

LEGEND BIOTECH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

	Three months ended March 31, 2023	Three months ended March 31, 2022
	US$’000, except per share data	US$’000, except per share data
	(Unaudited)	(Unaudited)
REVENUE
License revenue	—	50,000
Collaboration revenue	36,280	—
Other revenue	56	40
Total revenue	36,336	50,040
Collaboration cost of revenue	(35,613)	—
Other income and gains	8,199	1,012
Research and development expenses	(84,889)	(81,548)
Administrative expenses	(22,205)	(12,657)
Selling and distribution expenses	(17,954)	(21,302)
Other expenses	(10,734)	(1,527)
Fair value gain/(loss) of warrant liability	20,000	34,900
Finance costs	(5,113)	(1,044)
LOSS BEFORE TAX	(111,973)	(32,126)
Income tax (expense)/credit	(128)	(163)
LOSS FOR THE PERIOD	(112,101)	(32,289)
Attributable to:
Ordinary equity holders of the parent	(112,101)	(32,289)
LOSS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT
Basic	(0.34)	(0.10)
Diluted	(0.34)	(0.10)
ORDINARY SHARES USED IN LOSS PER SHARE COMPUTATION
Basic	330,497,072	308,699,034
Diluted	330,497,072	308,699,034

LEGEND BIOTECH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

	March 31, 2023	December 31, 2022
	US$’000	US$’000
	(Unaudited)	Audited
NON-CURRENT ASSETS
Property, plant and equipment	110,045	105,168
Advance payments for property, plant and equipment	2,193	914
Right-of-use assets	80,459	55,590
Time deposits	4,366	—
Intangible assets	2,289	3,409
Collaboration prepaid leases	93,548	65,276
Other non-current assets	1,062	1,487
Total non-current assets	293,962	231,844
CURRENT ASSETS
Collaboration inventories	12,176	10,354
Trade receivables	56	90
Prepayments, other receivables and other assets	51,761	61,755
Financial assets at fair value through profit or loss	185,705	185,603
Pledged deposits	1,283	1,270
Time deposits	4,366	54,016
Cash and cash equivalents	660,050	786,031
Total current assets	915,397	1,099,119
Total assets	1,209,359	1,330,963
CURRENT LIABILITIES
Trade payables	29,811	32,893
Other payables and accruals	146,378	184,109
Government grants	457	451
Lease liabilities	4,595	3,563
Tax payable	9,940	9,772
Warrant liability	47,000	67,000
Total current liabilities	238,181	297,788
NON-CURRENT LIABILITIES
Collaboration interest-bearing advanced funding	265,864	260,932
Lease liabilities long term	44,302	20,039
Government grants	7,631	7,659
Other non-current liabilities	224	233
Total non-current liabilities	318,021	288,863
Total liabilities	556,202	586,651
EQUITY
Share capital	33	33
Reserves	653,124	744,279
Total ordinary shareholders’ equity	653,157	744,312
Total equity	653,157	744,312
Total liabilities and equity	1,209,359	1,330,963

LEGEND BIOTECH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

	Three months ended March 31, 2023	Three months ended March 31, 2022
	US$’000	US$’000
	(Unaudited)	(Unaudited)
LOSS BEFORE TAX	(111,973)	(32,126)
CASH FLOWS USED IN OPERATING ACTIVITIES	(141,053)	(78,687)
CASH FLOWS USED IN INVESTING ACTIVITIES	17,930	(232,500)
CASH FLOWS FROM FINANCING ACTIVITIES	(286)	25
NET DECREASE IN CASH AND CASH EQUIVALENTS	(123,409)	(311,162)
Effect of foreign exchange rate changes, net	(2,572)	10
Cash and cash equivalents at beginning of the period	786,031	688,938
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	660,050	377,786
ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS
Cash and bank balances	670,065	667,465
Less: Pledged deposits	1,283	1,448
Time deposits	8,732	288,231
Cash and cash equivalents as stated in the statement of financial position	660,050	378
Cash and cash equivalents as stated in the statement of cash flows	660,050	377,786