In Greek mythology, there was a woman named Cassandra who always knew when a disaster was coming, but she could never do anything about it. Is Sahm Adrangi, the well-known hedge manager at Kerrisdale Capital, tthihe Cassandra of the biotech industry?
Recently, Sahm Adrangi has recently accurately biotech disasters before they happened. Two months ago, he somehow know that a cancer vaccine being studied at Bavarain Nordic would not pass that study. At around the same time, he stcould foresee that Sage was not going to have any luck in demonstrating that its SRSE drug was no better then a sugar bill.
Sahm Adrangi feels that another biotech company is going to have a disastrous outcome with its lead dtug.
Prothena SPRTA is the biotech company that is activating Adrangi’s spider sense. The lead drug that feels is headed for a failure is called NEOD001. This is a drug that is supposed to deal with AL amyloidosis.
The analysts at Kerrisdale thinks that this drug has shown no promise in the Phase 1/11 study. They also think that the Phase 11b and Phase 111 will show no more improvement in this drug, and more information click here.
Sahmn Adrangi believes that this drug has no chance of success and this drug is going to flop in both studies.
The analysts at Kerrisdale only expect success if this drugs gets some sporadic responses from the NK-pro BNP biomarker and these responses are not expected to any time soon
The mission of Kerrissdale seems to be be clear and that is for people to know that Protthena’s leading drug is going to be a disaster in the clinic and will lead to the shares of the company taking, and Twitter.com.
Sahm Adrangi at Kerrissdale is not shy about expressing his gambles in public since he proabably has confidence that he is usually right.
After people looked at the report on the leading drug, the shares of Prothena fell 8 percent, and https://www.linkedin.com/in/sahm-adrangi-3548541.