A weird and potentially nasty pattern in biotech because of the incentives it generates: A company's assets are IPO'ed, VCs make a pile of money,but when taken to Phase III they flop (Stemcentrx, Unity, Sirtris).It may be obvious to bio veterans,but flops should be easier to spot
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Theres always the hansonian effects, that 1 can meme oneself into thinking it actually works when a critical external observer may be - rosy about it. Idk honestly. As with many things I can only throw lots of time at this issue and post public predictions about wht IPOs wll fail
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Agree this is complicated — but think it’s clear there should be more humility from those who’ve exited on products that failed to help patients. Keeps me up. If I’m ever in such a situation you two can hold me accountable for donating it all ;).
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