Legend Biotech Q2 EPS $(0.57) Beats $(0.69) Estimate, Sales $73.33M Beat $53.20M Estimate, Cash Balance of $1.5B Extends its Cash Runway through 2025
Portfolio Pulse from Benzinga Newsdesk
Legend Biotech reported Q2 earnings per share of $(0.57), beating the analyst consensus estimate of $(0.69) by 17.39%. The company also reported quarterly sales of $73.33 million, surpassing the analyst consensus estimate of $53.20 million by 37.84%. The company's cash balance of $1.5 billion extends its cash runway through 2025.
August 15, 2023 | 10:06 am
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Legend Biotech reported better than expected Q2 earnings and sales, which could positively impact its stock price in the short term.
Legend Biotech reported Q2 earnings and sales that beat analyst estimates, which is typically a positive signal for the stock. The company's strong cash position, which extends its cash runway through 2025, also provides financial stability and reduces risk, which could further support the stock price.
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RELEVANCE 100