Alzheon hits another dead end funding its Alzheimer's program, pulls second IPO attempt
If at first you don’t succeed… maybe it wasn’t such a good idea.
Alzheon has learned that the hard way as it withdraws its IPO for a second time, despite drastically downsizing the offering and adjusting its goal from a Phase III pivotal study to a Phase IIb for its lead drug.
That wasn’t enough to woo investors into backing its ultra-risky project of turning a once-failed drug for Alzheimer’s, at a time the humiliating flop at Axovant — which essentially pursued the same strategy — still haunts its stock.
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