Sometimes the only way to fight big business is through big business itself and hedge fund investor Sahm Adrangi is always ready for a fight. The activist investor who is the Chief Investment Officer and founder of Kerrisdale Capital Management LLC. has a passion and talent for bringing to light shady business practices and even outright fraud, and he makes a profit from it. His method involves researching companies and presenting the findings for all to see through social media, news outlets, and other methods to encourage the short-selling of their stock, essentially crippling these dubious companies.
While Sahm Adrangi has expertise in betting against companies in the fields of mining and telecommunications, some of his most recent and news-worthy victories have been against big pharma and the bad drugs they were pushing that were little, if any, better than a placebo. In the latter part of 2017, 2 drugs that Adrangi had predicted the failure of did just that. They both failed in Phase III trials as Adrangi had anticipated more than a year before the Phase III trials began.
These 2 medications were a prostate cancer vaccine, one of many that have failed in recent years, and a drug to treat super-refractory status epilepticus, a rare type of epilepsy. Respectively, the medications were developed by Bavarian Nordic and Sage Therapeutics and bad science and bad testing procedures led to the development of bad drugs in which millions were wasted on development.
In light of this, things don’t look good for the latest target of Kerrisdale Capital’s short attacks: Prothena’s NEOD001 being marketed for AL amyloidosis. During his research, Sahm Adrangi suspects that all positive results are just from natural occurrences in the disease instead of the drug itself. Unfortunately for Prothena, investors are listening, and their stock dropped 8% immediately following Sahm Adrangi’s announcement. Visit This Page for related information.
The 2003 Yale University Graduate with a Bachelor of Economics Arts founded Kerrisdale Capital Management LLC. with a little under a million dollars and it now manages funds in the hundreds of millions.