Legend Biotech Corp Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Legend Biotech Corp has submitted its 20-F annual report detailing its 2023 fiscal year performance and operations.</b>

AI Summary

Legend Biotech Corp (LEGN) filed a Foreign Annual Report (20-F) with the SEC on March 19, 2024. Legend Biotech Corp filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 2101 CottonTail Lane, Somerset, NJ 08873. The filing was made on March 19, 2024. Legend Biotech Corp is classified under the Pharmaceutical Preparations industry (SIC 2834).

Why It Matters

For investors and stakeholders tracking Legend Biotech Corp, this filing contains several important signals. This filing provides a comprehensive overview of Legend Biotech's financial health, operational activities, and strategic direction for the past fiscal year, crucial for investors assessing the company's progress and future prospects. As a 20-F filing, it offers detailed information required for foreign private issuers, including financial statements and business descriptions, enabling a deeper understanding of the company's global operations and compliance with SEC regulations.

Risk Assessment

Risk Level: low — Legend Biotech Corp shows low risk based on this filing. The filing is a routine annual report (20-F) and does not contain new material events or significant financial disclosures that would indicate immediate high risk.

Analyst Insight

Investors should review the detailed financial statements and business overview within the 20-F to understand Legend Biotech's performance and strategic initiatives for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (The report covers the period ending on this date.)
• 2024-03-19 — Filing Date (The date the 20-F report was submitted to the SEC.)
• 2023-01-01 — Fiscal Year Start (The report covers the period starting on this date.)

Key Players & Entities

• Legend Biotech Corp (company) — Filer of the 20-F report
• 2024-03-19 (date) — Filing date of the 20-F report
• 2023-12-31 (date) — Fiscal year end date
• 2101 CottonTail Lane, Somerset, NJ 08873 (address) — Business and mailing address
• 732-317-5050 (phone) — Business phone number
• 2834 (sic_code) — Standard Industrial Classification for Pharmaceutical Preparations

FAQ

Industry Context

Legend Biotech Corp operates in the pharmaceutical preparations industry, focusing on the development and commercialization of novel cell therapies for cancer and other serious diseases.

Regulatory Implications

As a foreign private issuer, Legend Biotech Corp is subject to SEC regulations, including the requirement to file an annual report on Form 20-F, which provides comprehensive disclosure of its business and financial condition.

What Investors Should Do

1. Review the full 20-F filing for detailed financial statements and management discussion.
2. Analyze the company's business segments and strategic priorities outlined in the report.
3. Compare the 2023 performance metrics with previous years to identify trends and growth patterns.

Key Dates

• 2024-03-19: Filing of 20-F Annual Report — Official submission of the company's annual financial and operational data for the fiscal year 2023.
• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2023-01-01: Fiscal Year Start — Marks the beginning of the reporting period for the 20-F filing.

Year-Over-Year Comparison

This filing is the 20-F annual report for the fiscal year ended December 31, 2023, providing updated information compared to previous filings.

Key Financial Figures

• $0.0001 — esenting two ordinary shares, par value $0.0001 per share LEGN Nasdaq Global Select Mar
• $1 — ased on an exchange rate of RMB 7.08 to $1.00, which is the exchange rate as of De
• $ — s, par value $0.0001 per share; and "US$," "U.S. dollars," "$," or "dollars" are

Filing Documents

• legn-20231231.htm (20-F) — 3945KB
• exhibit2_4.htm (EX-2.4) — 181KB
• exhibit4_4.htm (EX-4.4) — 20KB
• exhibit4_6.htm (EX-4.6) — 21KB
• exhibit4_11.htm (EX-4.11) — 12KB
• exhibit4_23.htm (EX-4.23) — 16KB
• exhibit4_24.htm (EX-4.24) — 663KB
• exhibit4_25.htm (EX-4.25) — 46KB
• exhibit4_26.htm (EX-4.26) — 18KB
• exhibit11_1.htm (EX-11.1) — 181KB
• exhibit12_1.htm (EX-12.1) — 11KB
• exhibit12_2.htm (EX-12.2) — 10KB
• exhibit13_1.htm (EX-13.1) — 5KB
• exhibit13_2.htm (EX-13.2) — 5KB
• exhibit15_1.htm (EX-15.1) — 4KB
• exhibit15_2.htm (EX-15.2) — 5KB
• footera.jpg (GRAPHIC) — 6KB
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• legn-20231231_g9.jpg (GRAPHIC) — 215KB
• picture2a.jpg (GRAPHIC) — 5KB
• 0001801198-24-000021.txt (&nbsp;) — 28620KB
• legn-20231231.xsd (EX-101.SCH) — 161KB
• legn-20231231_cal.xml (EX-101.CAL) — 119KB
• legn-20231231_def.xml (EX-101.DEF) — 508KB
• legn-20231231_lab.xml (EX-101.LAB) — 1047KB
• legn-20231231_pre.xml (EX-101.PRE) — 835KB
• legn-20231231_htm.xml (XML) — 2856KB

Quantitative And Qualitative Disclosures About Market Risk

Quantitative And Qualitative Disclosures About Market Risk 191 Item 12.

Description Of Securities Other Than Equity Securities

Description Of Securities Other Than Equity Securities 191 PART II Item 13. Defaults, Dividend Arrearages And Delinquencies 194 Item 14. Material Modifications To The Rights Of Security Holders And Use Of Proceeds 194 Item 15.

Controls And Procedures

Controls And Procedures 194 Item 16. Reserved 196 Item 16A. Audit Committee Financial Expert 196 Item 16B. Code Of Ethics 196 Item 16C. Principal Accountant Fees and Services 196 Item 16D. Exemptions From The Listing Standards For Audit Committees 196 Item 16E. Purchases Of Equity Securities By The Issuer And Affiliated Purchasers 197 Item 16F. Change In Registrant's Certifying Accountant 197 Item 16G. Corporate Governance 197 Item 16H. Mine Safety Disclosure 197 Item 16I. Disclosure Regarding Foreign Jurisdictions That Prevent Inspection 197 I tem 16J I n sider Trading Policies 198 I tem 16K Cybersecurity 198 PART III Item 17.

Financial Statements

Financial Statements 200 Item 18.

Financial Statements

Financial Statements 200 Item 19. Exhibits 200

SIGNATURES

SIGNATURES 204 i Table of Contents CERTAIN INFORMATION In this Annual Report on Form 20-F (this "Annual Report"), unless otherwise indicated or the context otherwise requires, "Legend Biotech" refers to Legend Biotech Corporation, a Cayman Islands holding company, "PRC subsidiaries" refer to Legend Biotech's subsidiaries incorporated in the PRC (as defined below) and "we," "us," "our," and the "Company" refer to Legend Biotech and its consolidated subsidiaries. References to "GenScript" or "Genscript" refer to Genscript Biotech Corporation, our largest shareholder. Our fiscal year end is December 31. References to a particular "fiscal year" are to our fiscal year ended December 31 of that calendar year. Our audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board. None of our financial statements were prepared in accordance with generally accepted accounting principles in the United States. This Annual Report contains translations of Renminbi ("RMB") amounts into U.S. dollars at specified rates solely for the convenience of the reader. We make no representation that the RMB or U.S. dollar amounts referred to in this Annual Report could have been or could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all. Unless otherwise noted, translations of RMB amounts into U.S. dollars in this Annual Report are made based on an exchange rate of RMB 7.08 to $1.00, which is the exchange rate as of December 31, 2023 as published by the People's Bank of China. Various amounts and percentages set out in this document have been rounded and, accordingly, may account for apparent discrepancies in the tables appearing herein. Unless otherwise indicated or the context otherwise requires, references in this Annual Report to: "ADSs" are to the American depositary shares, each of which represents two of

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION Our Holding Company Structure and China Operations Legend Biotech is a Cayman Islands holding company and not a Chinese operating company. We operate through our operating subsidiaries located primarily in the United States, PRC and European Union (the "EU"). Our operations in the PRC, in addition to our business presence elsewhere in the world, are enabled by our subsidiaries based therein. Investors in our ADSs do not hold equity securities of our operating subsidiaries but hold equity securities of a Cayman Islands holding company. See "Item 4—Information On The Company—C. Organizational Structure Chart" for an illustration of our corporate structure. We face various legal and operational risks and uncertainties associated with having a portion of our operations in China and the complex and evolving PRC laws and regulations. For example, we face risks associated with regulatory approvals or filing requirements on offerings conducted outside of the PRC and investment by individuals or entities outside of the PRC ("non-PRC investors") in issuers with operations in China, anti-monopoly regulatory actions and oversight on cybersecurity, data privacy and genetic information. If we fail to comply with relevant regulatory requirements, it may negatively impact our ability to conduct certain business, access investments by non-PRC investors or list on stock exchanges outside of the PRC. If we fail to comply with these regulatory requirements applicable to our offerings and investments outside the PRC, the PRC could take action against the assets of our PRC subsidiaries, which could materially and adversely affect our operations in the PRC. As a result, these risks could result in a material adverse change in our operations and the value of our ADSs, significantly limit, delay or hinder our ability to offer or continue to offer securities to investors, or cause the value of such securities to significantly decline. Our operations in China are g

View Full Filing

View this 20-F filing on SEC EDGAR