STAT+: Legend Biotech emerged as a rare market winner

STAT PlusNewsletterThe Readout Legend Biotech emerged as a rare market winner New guidance for gene therapy developers, Lilly’s deal for kidney drugs, and more biotech news from The Readout Manage alerts for this article Email this article Share this article By Elaine ChenJune 3, 2026 National Biotech Reporter Elaine Chen[email protected]Elaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways companies are affected by FDA changes, and the emerging psychedelics drug sector. She co-writes The Readout newsletter, and co-hosts STAT’s weekly biotech podcast, The Readout Loud. You can reach Elaine on Signal at elaineywchen.70. Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox. Good morning. Yesterday was a brutal day for biotech stocks, but one company withstood the broad selloff. We also look at investor excitement for longevity startups and yet another licensing deal made by Eli Lilly.Advertisement Legend Biotech emerged as a rare market winner Shares of Legend Biotech soared over 40% yesterday after the company disclosed early data on its in vivo CAR-T therapy that showed promise in Non-Hodgkin’s lymphoma. STAT+ Exclusive Story Already have an account? Log in This article is exclusive to STAT+ subscribers Unlock this article — plus in-depth analysis, newsletters, premium events, and news alerts. Already have an account? Log in Monthly $39 Totals $468 per year $39/month Get Started Totals $468 per year Starter $30 for 3 months, then $399/year $30 for 3 months Get Started Then $399/year Annual $399 Save 15% $399/year Get Started Save 15% 11+ Users Custom Savings start at 25%! Request A Quote Request A Quote Savings start at 25%! 2-10 Users $300 Annually per user $300/year Get Started $300 Annually per user View All Plans To read the rest of this story subscribe to STAT+. Subscribe Log In biotechnology, drug development, Drug prices, research Submit a correction requestReprints Elaine Chen National Biotech Reporter Elaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways companies are affected by FDA changes, and the emerging psychedelics drug sector. She co-writes The Readout newsletter, and co-hosts STAT’s weekly biotech podcast, The Readout Loud. You can reach Elaine on Signal at elaineywchen.70. Newsletter Your morning rundown of the science, politics, and money driving biotech today Recommended Biotech June 2, 2026 STAT Plus: Longevity startup NewLimit raises $435 million ahead of first clinical trial The Readout June 2, 2026 STAT Plus: Radiopharmaceutical shows promise in post-Pluvicto setting Advertisement Biotech June 1, 2026 STAT Plus: Abivax ulcerative colitis drug shows strong efficacy, but cases of cancer raise concerns Biotech June 1, 2026 STAT Plus: At ASCO, talk of barriers to cancer care, new treatments, and other big takeaways The Readout June 1, 2026 STAT Plus: A turning point for pancreatic cancer patients Subscriber Picks