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Legend Biotech Appoints Lori Macomber as Chief Financial Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Legend Biotech Corporation has promoted Lori Macomber, CPA, to Chief Financial Officer (CFO), effective immediately. She takes over from Dr. Ying Huang, who remains the Chief Executive Officer. Lori has been with the company since September 2019, serving in various financial roles including Vice President of Finance. Recognized for her financial expertise, she aims to drive sustainable growth as the company transitions into a fully commercial organization. Legend Biotech continues to focus on developing advanced therapies for life-threatening diseases.
Positive
Promotion of Lori Macomber to CFO may strengthen financial leadership.
Lori Macomber has extensive financial and operational experience in the biotech sector.
Negative
Dr. Ying Huang's dual role as CEO and former CFO may raise concerns about continuity in financial strategy.
SOMERSET, N.J.--(BUSINESS WIRE)--
Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global biotechnology company developing, manufacturing and commercializing novel therapies to treat life-threatening diseases, today announced the promotion of Lori Macomber, CPA, to Chief Financial Officer (CFO), effective immediately. Ms. Macomber assumes the role from Dr. Ying Huang, who has been both CFO and Chief Executive Officer (CEO) since September 2020. Dr. Huang will continue to serve as CEO of Legend Biotech.
“Lori is a highly valued leader and strategic thought partner that has been instrumental in building the company’s finance organization,” said Ying Huang, Ph.D., Chief Executive Officer of Legend Biotech. “Lori possesses deep financial and accounting expertise and the operational experience needed to usher the company toward sustainable growth as we become a fully commercial organization and help create long-term value for all of our stakeholders.”
As CFO, Ms. Macomber will lead the company’s financial operations and retain her responsibilities as the company’s principal financial and accounting officer. Since joining Legend Biotech in September 2019, Ms. Macomber has served as Vice President of Finance and Vice President of Supply Chain Finance and Controller.
Prior to Legend, Ms. Macomber was Business Unit Controller at Ametek PDS, a leading supplier of components and systems for the aerospace and defense industries. In her tenure as a finance specialist, Ms. Macomber also held various senior finance and accounting roles in the life sciences industry, including U.S. CFO and Controller of Cello Heath and AVP Finance Site Leader at Eli Lilly & Company.
Ms. Macomber holds a Bachelor of Science in Accounting from Pennsylvania State University and is a certified public accountant.
About Legend Biotech
Legend Biotech is a global biotechnology company dedicated to treating, and one day curing, life-threatening diseases. Headquartered in Somerset, New Jersey, we are developing advanced cell therapies across a diverse array of technology platforms, including autologous and allogenic chimeric antigen receptor T-cell, T-cell receptor (TCR-T), and natural killer (NK) cell-based immunotherapy. From our three R&D sites around the world, we apply these innovative technologies to pursue the discovery of safe, efficacious and cutting-edge therapeutics for patients worldwide.
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to Legend Biotech’s strategies and objectives; statements relating to CARVYKTI™, including Legend Biotech’s expectations for CARVYKTI™, such as Legend Biotech’s manufacturing and commercialization expectations for CARVYKTI™ and the potential effect of treatment with CARVYKTI™; statements about submissions for cilta-cel to, and the progress of such submissions with, the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), the Chinese Center for Drug Evaluation of National Medical Products Administration (CDE) and other regulatory authorities; the anticipated timing of, and ability to progress, clinical trials, including patient enrollment; the submission of Investigational New Drug (IND) applications to, and maintenance of such applications with, regulatory authorities; the ability to generate, analyze and present data from clinical trials; and the potential benefits of Legend Biotech’s product candidates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Legend Biotech’s expectations could be affected by, among other things, uncertainties involved in the development of new pharmaceutical products; unexpected clinical trial results, including as a result of additional analysis of existing clinical data or unexpected new clinical data; unexpected regulatory actions or delays, including requests for additional safety and/or efficacy data or analysis of data, or government regulation generally; unexpected delays as a result of actions undertaken, or failures to act, by our third party partners; uncertainties arising from challenges to Legend Biotech’s patent or other proprietary intellectual property protection, including the uncertainties involved in the U.S. litigation process; competition in general; government, industry, and general public pricing and other political pressures; the duration and severity of the COVID-19 pandemic and governmental and regulatory measures implemented in response to the evolving situation; as well as the other factors discussed in the “Risk Factors” section of the Legend Biotech’s Annual Report filed with the Securities and Exchange Commission on March 31, 2022. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this press release as anticipated, believed, estimated or expected. Any forward-looking statements contained in this press release speak only as of the date of this press release. Legend Biotech specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
