Axovant Sciences Ltd. (AXON) Comes Under Scrutiny Amid IPO Surge

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."

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