Bob Duggan — the billionaire investor famous for turning Pharmacyclics from a penny stock to a $20 billion company — placed a handsome bet on the company’s new antibiotic for C. difficile infection last year, scooping up a majority stake and naming himself CEO in hopes of turning a profit in a field largely abandoned by Big Pharma.
But on Monday, a Phase III failure sent the company’s stock spiraling in premarket trading — and now, Duggan says he’s looking to raise more cash.
https://endpts["dot"]com/billionaire-bob-duggans-new-antibiotic-play-fails-a-phase-iii-trial-and-investors-arent-happy/
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