Eleven biopharmaceutical companies have filed for bankruptcy so far in 2019, the most in a single year within the past decade, according to a new series fromBioPharma Dive.<\/p>\n
Why it matters: Its rare for biotechs to go under because they have so much access to extra funding. But more firms have hit dead ends.<\/p>\n
Between the lines: The reasons for the biotech bankruptcies run the gamut, but in general, all of the companies burn cash at a high rate.<\/p>\n
Why you'll hear about this again: \"You're probably going to see more of these situations going forward, where a company is preclinical, went public and is left on their own and has to raise additional money from the public markets, and they flounder,\" the CEO of a bankrupt biotech firm told BioPharma Dive.<\/p>\n
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11 biotechnology companies have filed for bankruptcy so far in 2019 - Axios<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Eleven biopharmaceutical companies have filed for bankruptcy so far in 2019, the most in a single year within the past decade, according to a new series fromBioPharma Dive. Why it matters: Its rare for biotechs to go under because they have so much access to extra funding. But more firms have hit dead ends. Continue reading