Doug Williams, Codiak CEO (via company website)

Trapped in Nas­daq’s biotech base­ment, Co­di­ak’s Doug Williams lays out a sur­vival plan: chop­ping jobs, PhII plans

It took a dogged ef­fort by Co­di­ak Bio­Sciences $CDAK founder Doug Williams to get an IPO to fly on Nas­daq. But once out in late 2020 at $15, he was em­braced by a new gen­er­a­tion of biotech in­vestors who had been in­spired by the pan­dem­ic and fast for­tunes to go big in the sec­tor.

The stock quick­ly soared to more than $32 a share — and then nev­er reached that ceil­ing again. In­stead, the new in­vestors fled to oth­er fields at the start of this year, leav­ing Co­di­ak mired at lit­tle more than $2 a share and a mar­ket cap of on­ly $52 mil­lion, an­oth­er strug­gling mi­cro play­er brought down in the gen­er­al col­lapse.

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