Pe­ter Hecht’s Iron­wood spin­out fails back-to-back stud­ies on a key drug, crush­ing shares and trig­ger­ing cut­backs — but he still sees a path for­ward

Pe­ter Hecht’s plan to piv­ot from a mid-stage start at his new­ly cre­at­ed biotech Cy­cle­ri­on — spun out of Iron­wood — right in­to late-stage pro­grams on a path to com­mer­cial­iza­tion has run straight in­to a ma­jor set­back.

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