Legend Biotech Shares Fall After CEO Huang Resigns
By Grace Yoon
Shares of Legend Biotech fell after the cell-therapy company said its Chief Executive Ying Huang has resigned.
The stock slipped 15% to $18.89 in recent trading, and is down more than 13% since the start of the year.
Huang stepped down last week, Legend said. Carvykti business unit President Alan Bash was appointed interim chief executive, the company said Monday.
Huang joined Legend as chief financial officer in 2019 and was appointed CEO in 2020. He will remain as an advisor through August to support the transition, the company said.
Huang said he will be pursuing an opportunity at an early-stage venture company, but remains confident in Legend's strategy, pipeline and long-term growth opportunities during a sell-side call, Morgan Stanley analysts said in a note.
Bash said in a statement that his immediate focus will be on ensuring continuity across the business, maintaining strong execution and supporting the company's teams.
Bash has previously served as chief executive for two oncology-focused biotech companies, ZielBio and Checkmate Pharmaceuticals. He also had a 23-year career with Bristol Myers Squibb, Legend said.
The board has initiated a comprehensive search process to identify a permanent successor, the company said.
Write to Grace Yoon at grace.yoon@wsj.com
(END) Dow Jones Newswires
July 27, 2026 11:58 ET (15:58 GMT)
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