This Company Admitted Failure—And The Stock Market Rewarded It

Good guys finish last, the saying goes. But here’s a story that should offer hope to those who believe that transparency and corporate success can mix.

Back in 2009, scientists working for a Swedish biotech firm called WntResearch published a proof-of-principle paper about their key molecule. Called Foxy-5, the molecule appeared to help the drug tamoxifen suppress tumor cells, thereby preventing the spread of cancer. It had looked promising, because cells exposed to it succumbed to a drug that wouldn’t normally kill them.

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