Stem­line comes clean on pa­tient death, but ques­tions linger; Life sci­ences fund launch­es with €100M

• Stem­line $STML has been forced to ad­mit that it re­ceived a re­port that one of the pa­tients in its piv­otal study of SL-401 for blas­tic plas­ma­cy­toid den­drit­ic cell neo­plasm (BPD­CN) died af­ter de­vel­op­ing cap­il­lary leak syn­drome, a con­di­tion that has al­ready been linked to the drug. That ad­mis­sion fol­lowed a sto­ry from TheStreet’s Adam Feuer­stein, who re­vealed the pa­tient’s death for the first time. The big prob­lem here is the tim­ing. The death no­tice came on Jan­u­ary 18, a day ahead of a $45 mil­lion of­fer­ing, which failed to dis­close the is­sue. The biotech’s shares have been ripped and an­a­lysts are won­der­ing if the com­pa­ny can re­gain share­hold­ers’ con­fi­dence.

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