Kerrisdale’s Sahm Adrangi leads a brutal new biotech short attack as trial results loom
Kerrisdale Capital’s Sahm Adrangi has called a couple of recent biotech disasters in advance. Just two months ago his prediction that Bavarian Nordic’s cancer vaccine would flunk a long-running study proved accurate, and that came right on the heels of Sage’s ugly misfire on SRSE demonstrating that the drug was no better than a placebo in getting a response.
Now the influential hedge fund manager has got a new biotech in his sights, and this morning he’s pulling the trigger on another short attack, blasting the company’s lead drug as an absolute failure in the making.
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