Roivant group (Axovant, Enzyvant, Myovant, Dermavant, Urovant, Datavant)

Anyone out there know anything about the Roivant group of companies?

What is management like?

What is the culture like?

Will their pipeline products succeed?

Is it a group of companies worth joining?

 

What's the weather like today? Rain or snow?

 

This company is not what I thought it would be when I joined.

They were the darling of wall street with Axovant IPO but the crown has fallen with Axovant disgraced at JP Morgan last month. The key product that made them millions failed miserably (wasting millions more of investor's money). They couldn't even issue a press release without blatant errors in their reporting that they had to correct the next day. Egg on face!

https://endpts.com/axovant-shares-blasted-as-vivek-ramaswamys-premier-drug-proves-worthless-second-drug-misses-key-goal/

The once wunderkind CEO Vivek R is now having his true genius exposed and it doesn't look pretty.

Oh, and one of his first decisions as CEO was to hire his mother and younger brother (with no experience) and he paid them literally millions worth of options just because. It wasn't nearly as many millions as he paid himself, so it felt reasonable. Apparently if you are part of the family you can do very well at this place.

They haven't done anything (except take hefty amounts of investor's money) until they actually launch a drug.

David Hung bought high and in less than a year has lost millions and millions of his own money. Ouch!

Buyer beware of things that sound too good to be true.

 

Fraudovant

 

Opportunity or bad investment?

https://www.geekwire.com/2018/phaserx-sells-riovant-sciences-800000-two-months-declaring-bankruptcy/

 

A whole new way to do drug development. Overpay for deprioritized/failed programs. Hype the shit out of hopelessly unattainable endpoints. Overspend on development. Fail Spectacularly while claiming success.

 

It looks like even failure pays big time if you are part of the in-club. New way of doing business I guess. Pay for participating (in the scheme).

Who is responsible for the loss of shareholder value at Axovant? How can these guys waste other people's money so flagrantly? What about a shakeup at the parent company?

----------------
Woeful Axovant starts axing staff, but departing CEO David Hung gets a $2.6M exit package/bonus
https://www.fiercebiotech.com/biotech/after-a-string-failures-axovant-ceo-hung-resigns-along-a-host-others

 

This was well put...TWO YEARS AGO

NEW YORK — Is Vivek Ramaswamy the smartest guy in biotech?
By Damian Garde @damiangarde
December 15, 2016
...
If all that strikes you as too good to be true, you’re not alone.

“I know I run the risk of looking like a fool two or three years from now, but this sounds like some people are being bamboozled,” said Pierre Azoulay, a professor who teaches the business of biotech at the Massachusetts Institute of Technology’s Sloan School of Management.

 

the professor is a genius

 

If you want to work long hours for a hedge-fund dip who never developed a drug and never met a PR opportunity he didn’t like, this is the place for you.

 

Roivant acts as if they are one of a kind, but they are not nor did they invent the approach they say that they are taking. (I actually think they genuinely believe they are one of a kind, because they are industry blind. The hedge funders and financiers have never done anything off wall street before and so remain clueless.)

If you are interested in this type of business model I would recommend you look closely at BridgeBio and Paragon Biosciences as better alternatives. Both of those companies are doing the same thing as Roivant, but with people who have proven track records and know what they are doing.

https://www.paragonbiosci.com/
http://reporterexpert.com/jeff-aronin-paragonbiosci/

https://bridgebio.com/

Of all of these types of companies, Roivant is clearly the one most overhyped, with the biggest problems, most unrealistic investor expectations and the one most likely to fail.

Fun to watch how these three develop.

 

another company created, Metavant

I think it’s name means this is the biggest bet Roivant has made to date.

Very rich terms for Poxel. Unclear how that leaves room for Roivant to make money except when they hit a home run.

Boy this will be fun to watch

 

I have put my mother in an important position. And she is the reason why we shall succeed.

 

Every employee of Roivant and all of their baby vants should read this news today and carefully reflect. Vivek is a lot like Elizabeth Holmes. Both young, both media darlings, both falling into massive wealth far outpacing their experience, both richly backed, both always wearing black, both keeping their offices very cold because that is how they like it, both with questionable managerial judgement...will both end in scandal and law suits?

The rise and fall of Theranos and Elizabeth Holmes

By Jackie Wattles and Heather Kelly March 14, 2018: 7:54 PM ET


Theranos went from one of the most lauded "unicorn" tech startups in Silicon Valley to a company crippled by scandal.

 

Vivek seems insatiable when it comes to getting publicity, but is all hat and no cattle when it comes to making drugs. All of his people are just in it for the money, nicely seen when all of the “leaders dedicated to curing Alzheimer’s” abandoned ship at Axovant.

 

what will Vivek say at our next all company meeting in NYC?

“Look at our stellar record of wasted money and foolhardy deal terms, we are a Harvard case study in the making.”

“We care about patients, that is why I named my company Return On Investment and why I hired my mom and baby brother in my first PUBLIC company, and tried my best to give them millions of dollars on the spot”

“I know that didn’t totally work out, but don’t worry mom and baby brother, Vivek has got you back and will find a way to make you filthy rich. that is what family is for, you and my other insider buddies are my patients...ROI for you because I am the Vant!”

Ever wonder what Vant means?
“Vant: in India, the title for a high rank amongst the ennobled Hindu retainers of the Nizam of Hyderabad“

Vivek’ parents are from Kerala, Southern India where this term for nobility is known.

Vivek is the nobility, he alone is the “Vant” and that is why every company he creates must bear his name. He is the one we must bow down to and worship, in the name of promised financial gains.

 

Bringing his back to the top
What did Roger Sidhu do? Been here less than a year then an email stating he is gone for HR/compliance

that will stay with him which I am happy about as was just an asshole

not sorry to see him go but am curious what he did

hopefully his shitty career now is over and no will want a compliance risk

 

vant was trying to package. Nine. More like Rigomarist of the DICK. Expect not hard. Flaccid. Dick is more like it. Fucking ducks

 

Hey why don’t you ALL look at threads of This thread of TOXIC culture but payattendtion to EEOC and DOJ flings aging UROVANT and it’s toxi make leadership. Case is building. All women you might be solicited. It’s real.