Legend Biotech Says Cash And Cash Equivalents, Deposits, And Short-term Investments Of $1.3B, As Of December 31, 2023 Will Provide Financial Runway Through The End Of 2025
Portfolio Pulse from Benzinga Newsdesk
Legend Biotech announced that its cash, cash equivalents, deposits, and short-term investments totaling $1.3 billion as of December 31, 2023, are expected to sustain the company financially through the end of 2025.
March 11, 2024 | 11:07 am
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Legend Biotech's financial report indicates a strong cash position of $1.3 billion, expected to support operations until the end of 2025.
The announcement of a substantial cash reserve is typically viewed positively by investors as it indicates financial stability and the ability to fund operations and growth without the immediate need for additional financing. This can lead to increased investor confidence and potentially a positive impact on the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100