David Hung makes a quick, abrupt ex­it at Ax­o­vant af­ter hu­mil­i­at­ing set­backs

A month af­ter ex­pe­ri­enc­ing one of the most hu­mil­i­at­ing set­backs in biotech, David Hung is bow­ing out as CEO of Ax­o­vant $AX­ON.

Hung, you’ll re­call, had on­ly re­cent­ly com­plet­ed a $14 bil­lion deal to sell Medi­va­tion to Pfiz­er when he agreed to take the helm at Vivek Ra­maswamy’s Alzheimer’s com­pa­ny just 10 months ago. His new deal gave him a di­rect line to a po­ten­tial for­tune, pro­vid­ed the drug — once tout­ed as “a great drug can­di­date” by Roivant founder Vivek Ra­maswamy — ac­tu­al­ly worked.

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