Thank you.
It was difficult to reflect all the information in an concise manner because so many companies were started and had their names changed, were spun off and went broke. I posted multiple articles covering the years of the companies’ history.
2015 Axovant Sciences was formed and stock price doubled on the promise of a drug sold to the new company by GlaxoSmithKline. People became suspicious about the valuation for an unproven drug in a 10 person company with relatives, and the stock price tanked.
April 10, 2018 Biotech vet David Hung wipes Axovant from his work history By Damian Garde
Axovant failed the key phase 3 MINDSET trial for its lead drug intepirdine in treating Alzheimer’s disease. Following this, a second trial failure for nelotanserin in treating dementia due to Lewy Body Disease resulted in the stock falling to below $1 and the CEO Hung (former CEO of Medivation) quitting.
2019 Axovant: Axovant Gene Therapies (AXGT) is the new name for former Axovant Sciences An Interesting Turnaround Story With A Promising Pipeline Feb. 21, 2019. This company was rebranded a year later...
Nov 10, 2020 ‘We’re not a vant’: Axovant seeks to forget the past as the company rebrands to Sio Gene Therapies Max
In April 2023 the shareholders of Sio Gene Therapies voted to liquidate and dissolve the company.
Thanks for posting all this.... I like what Vivek has to say. But by what you have posted... seems like he does start ups with /s “great” intention... and then milks them for big time investor funding, running them for a couple years, collecting small investors like myself... then runs them into the dirt. Sounds like a classic “PUMP and DUMP”. Probably while collecting a huge pay check to “run” them as CEO or something.. I wouldn’t doubt it if those kinds had shorted it back to the ground.. I have been duped by those types before. I always hung on with hope. Then lost it all.
I hope your post gets a lot of attention here.
I gotta go back and reread that stuff... and do some real DD Due Diligence.
What do you think, JayGalt, in simple words?
Side note... “Who is John Galt?” I read that book. Nice name.