If you bet $100 on Axovant Sciences nine months ago, you’re down 93 bucks. But the biotech company best known for a blowup rivaling bitcoin wants a second chance, and on Wednesday is unveiling new management and a new drug it believes can win investors back over.
Axovant, founded by biotech entrepreneur Vivek Ramaswamy, is pivoting to gene therapy. The company paid $30 million up front for a one-time treatment Axovant believes could change the lives of patients with Parkinson’s disease.
About the Author Reprints
Ramaswamy is the champion of an ever growing population of biotech con men. Promise the next big thing in biotech, find fools willing to give money, when that thing fails miserably, move to the next promise. While hiding some cash and living large in the process.
Nathaniel David is another good example, although more sophisticated.