Threads like this are garbage.
They’re an attempt to excuse poor cashflow management/corporate strategy by blaming “sector & market” sentiment.
The real issue, has and will seemingly remain, the poor timing & quantum of raises.
Biotechs have long lead times, raise high & manage market expectation.
Burning cash & blaming “delays” whilst tapping the market for new capital, again, and again is a straight path to the land of penny dreadfuls.
Entire Psychedelics sector downturn, page-2
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