Biopharmaceutical company Legend Biotech Corporation (NASDAQ:LEGN) disclosed on Friday its net loss of USD134.9m (USD0.63 per share) for the quarter ended 30 June 2020.

This marks a decline in earnings when compared with a net loss of USD28.8m (USD0.14 per share) for the three months ended 30 June 2019.

Revenues of USD11.6m were generated for the three months ended 30 June 2020, a rise of USD1.5m over USD10.1m for the three months ended June 30, 2019, which was primarily due to additional milestone payments from Janssen Biotech Inc that were achieved in late 2019.

Research and development (R&D) expenses of USD53.6m was recorded for the three months ended 30 June 2020, a increase of USD21m versus the R&D of USD32.6m for the three months ended 30 June 2019, which was primarily due to a higher number of clinical trials, a higher number of patients enrolled in those trials as well as a higher number of research and development product candidates.