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In a typical year, a biotech startup might hope to raise enough money to keep things running for 18 months or more. But in many ways, this year was far from typical.

Even in the middle of a pandemic, biotech companies have been able to raise a staggering amount of money for their operations. Some managed to squeeze in multiple financing rounds within 12 months; others decided to jump into uncommonly welcoming public markets.


But some Boston-area companies are still working through the money they raised between October and December of 2019. STAT checked in with these four companies to see what they promised to do with their investors’ money — and what they’ve actually done with it.

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