Hedge fund takes major stake in red-ink-stained biotech(0)
Phronesis Partners, an Ohio-based hedge fund that takes its name from a Greek term used by the philosopher Aristotle to denote “”practical wisdom,” or “”prudence,” disclosed Tuesday in an SEC filing that it is now the largest owner of of a company that has yet to show a profit and has accumulated losses to the tune of $218 million since its founding in 1993.
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