Its founder did time in federal prison for his role in the insider trading scandal that put Martha Stewart in handcuffs. Its CEO has a decades-old drug trafficking charge on his résumé. The company is also laden with debt and burning through cash at a rate that threatens to bankrupt it by year’s end.
Yet biotech startup Kadmon has convinced investors to back an initial public offering that values the company at more than $800 million. It’s expected to raise $100 million on the New York Stock Exchange this week.
“It doesn’t make much sense to me,” said one longtime biotech investor who has steered clear of the company. “Are there really enough suckers out there?”
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Your trashing of Sam Waksal in this article that starts off with …” for his role in the insider trading scandal that put Martha Stewart in handcuffs” is bull shit ! Martha got indicted for lying to the Feds about a simple little Email when she said she didn’t write something that she did – it was a nothing burger and therefore your article is just a bull shit attention-getter. Get a life Damian!
I was contacted by a recruiter this morning for a position in this company. Knowing nothing about it, I did a quick google search. Needless to say, I will NOT be pursuing this career opportunity. Thank you for the article and for saving me the trouble!
Yup, did a favor for a friend in that cocaine bust. Indeed, that friend of his be his brother Sam, who was running a cocaine trafficking ring out of his lab.
Great article! It save me from investing time and money into this company.