A little more than one year ago, I wrote a skeptical article about Endocyte (ECYT), a small, down-on-its-luck biotech that had just licensed an experimental prostate cancer drug in what the CEO called a “transformational” transaction.
Endocyte shares popped from $1 to $4 on the September 2017 deal, which I called out as an over-hyped reaction to some overly promotional claims made by the company and CEO Mike Sherman. The excitement over that “transformational” prostate cancer drug was more likely to end in disappointment, I wrote.
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Don’t beat yourself up too much, history is littered with big pharmas’ bad investments. And Novartis bought Ablinx as well, so … there still time to watch their bodies floating down the river
Hopefully a similar disclosure is in the offing regarding NWBO