Faheem Hasnain forges a $120M private placement. So what did we learn from that?
This morning Faheem Hasnain is unveiling a $120 million private placement for his biotech, Gossamer Bio. Which says a lot about where and how the smart money is being bet these days.
Unless you’ve been hiding under a rock for the last six months, you know the market went from euphoria about biotech during the pandemic to a hard and unrelenting despair. There’s been a bounce recently in the key indexes, but as Hasnain and a group of realistic biotech execs readily agreed during our live panel at #BIO22, the mood is “shitshow” dark on Wall Street when it comes to the odds of success in drug development.
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