Comments by "Robert Steele" (@robertsteele474) on "Trump-Ramaswamy 2024?! Vivek Continues To Rise As DeSantis FACE-PLANTS: Rising" video.
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@Firearrowlj7nn Ramaswamy worked at the hedge fund QVT Financial from 2007 to 2014. He was a partner and co-managed the firm's biotech portfolio while it invested in Martin Shkreli's company Retrophin.
In 2014, Ramaswamy founded the pharmaceutical company Roivant Sciences; the "Roi" in the company's name refers to return on investment. The company was incorporated in Bermuda, a tax haven, and received almost $100 million in start-up capital from QVT and other investors.
In 2015, Ramaswamy raised $360 million for the Roivant subsidiary Axovant Sciences in an attempt to market intepirdine as a drug for Alzheimer's disease.
Ramaswamy appeared on the cover of Forbes magazine in 2015, and said his company would "be the highest return on investment endeavor ever taken up in the pharmaceutical industry.
Before new clinical trials began, he engineered an initial public offering in Axovant. Axovant became a "Wall Street darling" and raised $315 million in its IPO. The company's market value initially soared to almost $3 billion, although at the time it only had eight employees, including Ramaswamy's brother and mother.
In September 2017, the company announced that intepirdine had failed in its large clinical trial.*The company's value plunged; it lost 75% in one day* and continued to decline afterward. Shareholders who lost money included various institutional investors, as well as the California State Teachers' Retirement System pension fund. Ramaswamy was insulated from much of Axovant's losses because he held his stake through Roivant.
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A bit of background.
Ramaswamy worked at the hedge fund QVT Financial from 2007 to 2014. He was a partner and co-managed the firm's biotech portfolio while it invested in Martin Shkreli's company Retrophin.
In 2014, Ramaswamy founded the pharmaceutical company Roivant Sciences; the "Roi" in the company's name refers to return on investment. The company was incorporated in Bermuda, a tax haven, and received almost $100 million in start-up capital from QVT and other investors.
In 2015, Ramaswamy raised $360 million for the Roivant subsidiary Axovant Sciences in an attempt to market intepirdine as a drug for Alzheimer's disease.
Ramaswamy appeared on the cover of Forbes magazine in 2015, and said his company would "be the highest return on investment endeavor ever taken up in the pharmaceutical industry.
Before new clinical trials began, he engineered an initial public offering in Axovant. Axovant became a "Wall Street darling" and raised $315 million in its IPO. The company's market value initially soared to almost $3 billion, although at the time it only had eight employees, including Ramaswamy's brother and mother.
In September 2017, the company announced that intepirdine had failed in its large clinical trial. The company's value plunged; it lost 75% in one day and continued to decline afterward. Shareholders who lost money included various institutional investors, as well as the California State Teachers' Retirement System pension fund.*Ramaswamy was insulated from much of Axovant's losses because he held his stake through Roivant.*
Just what the US needs is a silver-spoon silver-tongued Pharma/Techbro grifter running the country to get rid of the middleman.🎉🙄😬
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