Ramaswamy's Axovant Alzheimer drug fails, stock crashes 75% after pump-and-dump

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Vivek Ramaswamy’s Axovant Sciences announced its Alzheimer’s drug intepirdine failed clinical trials, causing the stock to crash 75% in one day from $200 to eventually 40 cents. Ramaswamy had sold $40 million of his personal stake at the peak while hyping the drug in media. The drug had already failed four GlaxoSmithKline trials before Axovant bought it for $5 million, fleecing thousands of retail investors in what critics called a pump-and-dump scheme.

Sources & Citations

[1] Vivek Ramaswamy Is a Fraud—and Always Has Been · Aug 16, 2023 Tier 2

[2] Billionaire Vivek Ramaswamy is a Wall Street speculator accused of pump-and-dump schemes · Dec 27, 2024 Tier 2

[3] Vivek Ramaswamy's push for FDA changes could boost his wealth · Nov 25, 2024 Tier 1

Tiers Tier 1 court records & gov docs · Tier 2 established outlets · Tier 3 regional & specialty press · Tier 4 opinion or single-source. Methodology →

Cite this entry

The Cascade Ledger. “Ramaswamy's Axovant Alzheimer drug fails, stock crashes 75% after pump-and-dump.” The Capture Cascade Timeline, September 26, 2017. https://capturecascade.org/event/2017-09-26--vivek-ramaswamy-axovant-alzheimer-drug-failure/