Related: Biotech Giveaway Was Borrowed Money
Slow Saturday Special: Promising BioPure Corrupted and Closed
Reminder: "it's never been easy to turn a profit in biotech?"
And that stink-s*** slave of a governor told us it was going to save the economy.
"Epix Pharmaceuticals is latest biotech to fall; Sector’s uncertainties and expenses are driving away investors" by Robert Weisman, Globe Staff | July 22, 2009
Epix Pharmaceuticals Inc. has became the second Massachusetts biotechnology company in the past week to fold, raising fresh concerns about the health of the sector.
With many investors souring on biotechnology, and the cost of capital rising for the industry’s expensive research and development, more companies are being forced to pull the plug before they can bring new drugs to market, industry watchers said yesterday.
All that TAXPAYER SUBSIDY GONE! WASTED! LOOTED!
At least three other biotech companies have liquidated their assets in similar private assignment agreements over the past two years, Finn said, including ActivBiotics Inc. of Lexington, Spherics Inc. of Mansfield, and Prospect Therapeutics Inc. of San Diego.
Related: The Therapeutic Rip-Off
“There’s a lot of biotechs around, and some are running out of money,’’ he said. “You need deep pockets to fund therapeutic drugs. These companies don’t have sales and they’re expense generators.’’
Related: VenCap's Empty Vein
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