Axovant Sciences Ltd. (AXON) Comes Under Scrutiny Amid IPO Surge
Get Alerts AXON Hot Sheet
Join SI Premium – FREE
With shares up 74% from today's IPO pricing, some cautious notes are appearing on Axovant Sciences Ltd. (NYSE: AXON). FierceBiotech just ripped the company, noting it was started by a hedge fund manager Vivek Ramaswamy after grabbing an abandoned GlaxoSmithKline Alzheimer drug for a mere $5 million.
"Vivek Ramaswamy may not know anything about biotech and even less about treating Alzheimer's, but he just provided a master class on the current state of public investing and executing IPOs in the field," FierceBiotech's John Carroll wrote.
He added, "Axovant, with no track record, no experience and one questionable product, leaped onto the market worth much more than a billion dollars."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rubrik IPO: 5 key things to know
- Indonesia Energy Corporation (INDO) squeezes higher
- Pfizer (PFE) drops to 11-year lows
Create E-mail Alert Related Categories
Hot IPOs, IPOs, Momentum Movers, Short Sales, Trader TalkRelated Entities
IPOSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!