Legend Biotech reported its first profitable quarter, driven by strong demand for its CAR-T asset Carvykti, while also navigating intensifying competition from off-the-shelf bispecifics and rival CAR-T development. The company pointed to a leadership transition, with interim CEO Alan Bash taking over after Ying Huang resigned to lead K2 Therapeutics. The earnings update arrives as commercial expansion of CAR-T continues to face operational bottlenecks, including the labor-intensive process of scaling cell therapy into broader care settings. Investors appear focused on whether Legend can sustain growth amid the push toward earlier-line use and platform-level efficiencies.