(09-07-2023, 12:07 PM)NYC4jags Wrote:

(08-30-2023, 09:19 AM)NYC4jags Wrote: For the folks that are excited about Ramaswamy - you may want to know how he got rich.

• Purchased rights to a drug from Glaxo-Smith-Kline that had failed FOUR clinical trials and GSK had given up on
  
• Put his mother on the board of his new company and had her re-run one of those trials without actually testing on patients, they  cook the numbers to show some promise (even thought they knew there was none) and with those results ...
  
• Appeared On Jim Kramer's show and anywhere that would listen to him proclaim he was making headway with a new Alzheimers drug (he wasn't) 
  
• The IPO goes public and the stock doubles in a day - eventually going from $5 to $50 a share
  
• Final clinical trials reveal what they knew all along, the drug is totally useless
  
• Stock plummets by 99% instantly
  

Too late - the pump and dump worked and he'd cashed out with millions off of those he conned into believing in a worthless drug. 

If you have folks in your family with Alzheimers or dementia - you should really consider how this prick conned people into buying stock in a drug to treat those conditions even though he knew it was worthless. 

Here is a 2015 article from a finance guy who saw through it while it was happening: 
https://www.fiercebiotech.com/biotech/wh...out-of-you

This was only the first of several such forays and I believe he has a current similar scam going with a gene therapy treatment of sorts. 

His company did eventually come out with a hormone treatment drug for chemically castrating men going through prostate cancer. It was just a variation on an existing drug that does the same thing, but the new one performed about 10% better at limiting the necessary hormones. So he's got that under his belt along with that Harvard degree.

https://twitter.com/MJMcKean/status/1699...90672?s=20

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https://twitter.com/MJMcKean/status/1699...90672?s=20