Legend Biotech Stock Up Over 9% On Narrower Q1 Loss Below Street View, Revenue More Than Doubles

(RTTNews) - Shares of Legend Biotech Corp. (LEGN) are trading up over 7 percent in the pre-market trade after the company registered a narrow loss for the first quarter, below analysts' estimates, helped by an increase in revenue.

LEGN are currently up by 9.39 percent at $47.30 in the pre-market trade on the Nasdaq.

For the first quarter, the company registered loss of $59.793 million or $0.16 per share, compared with loss of $112.101 million or $0.34 per share, recorded for the same period last year.

On average, seven analysts, polled by Thomson Reuters had forecast the firm to post loss of $0.34 per share, for the quarter.

Revenue surged to $93.991 million from $36.336 million last year.