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Crash and burn: Why three biotechs failed in 2018

Launching a startup is sink or swim — and in 2018, these three biotechs decidedly sank.

There is an appointed time for everything — including in biotech. There is a time to start a company, a time to wind it down, a time to go public, and a time to delist the stock.

For every hopeful biotech toiling for decades before finally realizing a profit, there are countless others that run out of money or bet on a product that never delivers.

That latter group includes more companies than just Theranos. STAT took a look at some of the biopharma and biotech companies that wound down their operations over the course of 2018 and what those companies’ executives are doing now.

Orexigen Therapeutics

Headquartered in San Diego, Calif.
Established in 2002. Filed for bankruptcy in March.
Initial investors: Kleiner Perkins, Domain Associates, Sofinnova Ventures

“Usually, things get easier when you get to the commercial stage — you’ve eliminated the risk,” Orexigen’s

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