Biotech bubbles as money pours in
This article was originally published in Scrip
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Axovant's stock fell 74% based on intepirdine's Phase III failure, but parent company Roivant recently raised $1.1bn, showing that investors were willing to fund more new Vants regardless of the risky study's outcome.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.
The biotech is shifting gears after clinical hold on its lead drug was unlikely to be lifted, but the early-stage candidate that it's placing its hopes on is raising red flags for analysts and investors.