Disappointed, Yes, But Roivant's Not Roiled By Axovant's Alzheimer's Failure
Executive Summary
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.
You may also be interested in...
Finance Watch: Restructurings, Layoffs Reflect Ongoing Uncertainty In Biotech
Sio Gene, Genocea, Solid Biosciences, Saniona and Black Diamond join First Wave, Zosano, Vallon, Finch, Magenta, ProQR and Imara on the growing list of biopharma firms reducing headcount to make their cash last until valuations return to a level that may support new fundraising.
Finance Watch: Investors Bet On Hope As Four Early-Stage Companies Launch US IPOs
Public Company Edition: Of five drug developers expected to go public, four have preclinical or early clinical candidates, while the one that could not find a market for its IPO is in Phase III. Also, Biohaven, Zymeworks and Kura raise $100m or more in follow-on offerings.
Urovant’s Vibegron Faces Tough Commercial Climb Despite Phase III Success
Roivant subsidiary thinks EMPOWUR data would position the drug as best-in-class in overactive bladder, but investors responded to the data with a clear thumbs-down.