Biotech has always been a volatile sector, and it is important for investors to recognize the phases its stocks go through. In particular, the journey through the post-bubble wilderness can be a protracted affair.

The company had hoped its antibody drug conjugate could help frail and elderly B-cell lymphoma patients ineligible for chemotherapy, but the trial will now close following patient deaths.

A Phase II study in a frail, older lymphoma population has seen seven respiratory-related deaths along with five other serious adverse events, but so far Zynlonta has been deemed not related to the AEs.

Backed by an international syndicate of investors including Novartis and Ysios Capital, Tagworks has raised a healthy sum to advance its proprietary click-to-release platform technology and take its first click-cleavable antibody-drug conjugate into the clinic.