India, Nov. 10 -- Shares of Legend Biotech Corporation (LEGN) are slipping 12 percent on Tuesday morning despite the company reporting a return to profitability and strong revenue growth in the third quarter.
Shares of the company slipped 12.47 percent to $21.26 on the Nasdaq, compared with the previous closing price of $24.29. The stock has traded in a 52-week range of $16.24 to $37.50.
Net income totaled $51.7 million, or $0.13 a share, compared with a loss of $39.6 million, or $0.11 a share, in the prior year. Revenue increased to $359.5 million from last year's $272.4 million.
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