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SOMERSET, N.J. - Legend Biotech Corporation (NASDAQ:LEGN), a cell therapy company with a market capitalization of $6.9 billion and an InvestingPro Financial Health score of "Good," has appointed Carlos Santos as its new Chief Financial Officer, effective immediately, the company announced Monday.
Santos replaces Jessie Yeung, who has served as interim CFO since January 2025. In his new role, Santos will oversee financial operations with a focus on maintaining a robust balance sheet - currently boasting a healthy current ratio of 4.71 and more cash than debt - and working toward the company’s goal of achieving profitability in 2026. According to InvestingPro data, the company has demonstrated strong revenue growth of nearly 75% over the last twelve months.
Prior to joining Legend Biotech, Santos served as CFO for US Oncology at AstraZeneca. His career includes a decade at AstraZeneca in various leadership roles, including Acting Area Vice President for Latin America and Area CFO for the region. He also spent six years at Alcon, a Novartis division, as CFO for European markets and Brazil, and held financial leadership positions at Intel Corporation.
"His deep financial expertise and operational acumen will be invaluable as we continue to drive the success of CARVYKTI, our CAR-T cell therapy franchise, and attain companywide profitability in 2026," said Ying Huang, Chief Executive Officer of Legend Biotech, in a press release statement.
Santos holds an MBA in Corporate Finance from the University of Bristol in the United Kingdom.
Legend Biotech describes itself as the largest standalone cell therapy company with over 2,800 employees. The company develops and markets CARVYKTI, a one-time treatment for relapsed or refractory multiple myeloma, in collaboration with Johnson & Johnson.
In other recent news, Legend Biotech Corp reported its second-quarter earnings for 2025, showcasing robust revenue growth. The company achieved a revenue of 255.06 million USD, exceeding analyst forecasts of 234.23 million USD. Despite this revenue success, Legend Biotech reported a larger-than-expected loss per share at 0.34 USD, missing the anticipated loss of 0.1153 USD. In response to these financial results, RBC Capital raised its price target for Legend Biotech to 77.00 USD, up from 75.00 USD, while maintaining an Outperform rating. The adjustment in the price target was attributed to the ongoing strong demand and successful manufacturing of its Carvykti product. These developments highlight the company’s current financial performance and market perception.
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