0-for-2: An­oth­er fad­ed drug star in Ax­o­van­t's much-hyped pipeline falls, tar­nish­ing Ra­maswamy's deal-mak­ing rep

A few years ago, when Vivek Ra­maswamy bagged nelotanserin for his pre­mier biotech start­up Ax­o­vant in a small-mon­ey deal with Are­na, the ex-hedge fund play­er tout­ed the pact as a key move in his plan to be­come a leader in treat­ing Lewy body de­men­tia. 

To­day, the drug has joined Ax­o­vant’s Alzheimer’s drug in­tepir­dine as ev­i­dence that Ra­maswamy’s ini­tial pipeline strat­e­gy was gen­er­al­ly bad.

Ax­o­vant’s long suf­fer­ing shares $AX­ON cratered, free falling 27% as in­vestors swal­lowed an­oth­er dose of fail­ure.

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