Document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 6-K
 
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
Date of Report: February 17, 2023
 
Commission File Number: 001-39307
 
 
Legend Biotech Corporation
(Exact Name of Registrant as Specified in its Charter)


2101 Cottontail Lane
Somerset, New Jersey 08873
(Address of principal executive office)


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
 
Form 20-F              Form 40-F  
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  

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Legend Biotech Reports Second Quarter 2022 Financial Results

Legend Biotech Corporation (“Legend Biotech”) is filing this Form 6-K to report its unaudited condensed consolidated statements of profit or loss for the three and six months ended June 30, 2022 and its unaudited condensed consolidated statements of financial position as at June 30, 2022, as required by Nasdaq Listing Rule 5250(c)(2).
This report on Form 6-K is hereby incorporated by reference in the registration statements of Legend Biotech on Form F-3 (Nos. 333-257609 and 333-257625) and Form S-8 (No. 333-239478), to the extent not superseded by documents or reports subsequently filed.




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LEGEND BIOTECH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS

Three months ended
June 30, 2022
Six months ended
June 30, 2022
(Unaudited)(Unaudited)
(in thousands, US$, except share and per share data)
REVENUE
License revenue50,000
Collaboration revenue11,93711,937
Other revenue3474
Total Revenue11,97162,011
Collaboration cost of revenue(16,939)(16,939)
Other income and gains1,8562,868
Research and development expenses(68,827)(150,375)
Administrative expenses(18,050)(30,707)
Selling and distribution expenses(27,440)(48,742)
Other expenses(8,099)(9,626)
Fair value gain/loss of warrant liability(65,900)(31,000)
Finance costs(1,643)(2,687)
LOSS BEFORE TAX(193,071)(225,197)
Income tax expense(157)(320)
LOSS FOR THE PERIOD(193,228)(225,517)
Attributable to:
Ordinary equity holders of the parent(193,228)(225,517)
Loss per share attributable to ordinary equity holders of the parent:
Ordinary shares – basic(0.62)(0.73)
Ordinary shares – diluted(0.62)(0.73)
Shares used in loss per share computation:
Ordinary shares – basic309,777,816309,241,404
Ordinary shares – diluted309,777,816309,241,404

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LEGEND BIOTECH CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

June 30, 2022
(Unaudited)
(in thousands, US$)
NON-CURRENT ASSETS
Property, plant and equipment106,181
Advance payments for property, plant and equipment191
Right-of-use assets39,423
Other non-current assets31,911
Intangible assets4,624
Time deposits4,470
Total non-current assets186,800
CURRENT ASSETS
Collaboration inventories8,158
Trade receivables461
Prepayments, other receivables and other assets42,143
Collaboration lease receivables671
Pledged deposits1,402
Time deposits403,334
Cash and cash equivalents379,776
Total current assets835,945
Total assets1,022,745
CURRENT LIABILITIES
Trade and notes payables12,238
Other payables and accruals116,842
Government grants315
Tax payable9,339
Warrant liability118,900
Lease liabilities2,122
Total current liabilities259,756
NON-CURRENT LIABILITIES
Lease liabilities4,380
Collaboration interest-bearing advanced funding189,218
Other non-current liabilities314
Government grants6,445
Total non-current liabilities200,357
Total liabilities460,113
EQUITY
Share capital31
Reserves562,601
Total ordinary shareholders’ equity562,632
Total equity562,632
Total liabilities and equity1,022,745




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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
LEGEND BIOTECH CORPORATION
Date: February 17, 2023
By:
/s/ Ying Huang
Name:
Ying Huang, Ph.D.
Title:
Chief Executive Officer

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