Mixed da­ta does­n't stop this biotech uni­corn from plot­ting a loom­ing PhI­II show­down

Sa­mumed has of­ten found it eas­i­er to come up with lots more in­vestor cash than con­sis­tent­ly pos­i­tive clin­i­cal da­ta. And that odd jux­ta­po­si­tion has nev­er been more ap­par­ent than in its lat­est read­out for their lead drug in the pipeline.

Two months af­ter rais­ing a jaw-drop­ping $438 mil­lion at a $12 bil­lion val­u­a­tion, the biotech has come up with a dis­tinct­ly mixed batch of Phase IIb da­ta on SM04690. But that won’t stop this uni­corn from bar­rel­ing in­to a late-stage study in search of an FDA OK.

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