Woodford gets slammed with a brutal set of portfolio hits, as Northwest continues to fester
Neil Woodford is finding out the hard way just how difficult it is to set up a new fund with big investments in biopharma. After its asset value plunged about 11%, his summary on H1 2016 notes two unexpected setbacks – key trial failures for Circassia and Alkermes – along with one self-inflicted wound on Northwest Biotherapeutics.
Northwest has seen its share price dwindle down to a penny stock side show after the company was hit with repeated allegations of self-dealing. Its lead drug program is also evidently in limbo and the biotech’s CEO, Linda Powers, even spurned Woodford’s suggestion for a trusted investigator who could do an independent probe.
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