Record-Setting Biotech Plunges 25% After Axing Lead Program

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By Maxx Chatsko The fastest IPO in biotech history is now pumping the brakes. Drug development is time-consuming, expensive, and full of failure. It requires many years and hundreds of millions of dollars (or more) to bring a new drug to market. Most never get to have a launch party. From 2011 to 2020, only 7.9% of drug candidates that began a phase 1 clinical trial earned approval from the U.S. Food and Drug Administration (FDA). Centessa Pharmaceuticals (CNTA) – Get Centessa Pharmaceuticals PLC ADR Report was founded to attack the inefficiency of drug development head on. The business launch…

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