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On May 13, 2024, Legend published first quarter financial results and business updates, including, among other things, news that the Company is navigating regulatory challenges, such as the need for FDA approval for the expansion of its Raritan manufacturing facility. Legend also detailed its struggles with improving manufacturing turnaround times, as well as concerns surrounding the US and non-US price differentials and its ability to penetrate the community settings for its pharmaceutical treatments. Analysts responded to the news with lowered price targets.
Following this news, Legend’s stock price fell over 10% to close at $27.80 per share on May 14, 2025.