Axovant shares blasted as Vivek Ramaswamy's premier drug proves worthless, second drug misses key goal
Vivek Ramaswamy’s first big bet on bringing a drug back from Big Pharma’s discard list is a complete bust. And another setback in the pipeline has conspired to scuttle its stock price this morning.
The biotech financier’s Axovant, floated in an IPO that funded an expensive quest to put intepirdine back into the clinic for neuro conditions, reported out this morning that both doses of the therapy tested for dementia with Lewy bodies failed to significantly improve symptoms for patients. The drug has also failed spectacularly for Alzheimer’s, leaving Ramaswamy’s operation at Roivant with no choice but to kill the program.
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