In the lat­est re­verse merg­er, Vi­en­na's Ar­sa­nis serves as ve­hi­cle for X4 Phar­ma's Nas­daq list­ing

Con­sid­er this: a small biotech pins its hopes on its lead pro­gram, which for what­ev­er rea­son lat­er fails. Then comes along a pri­vate play­er look­ing …

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