In today’s market, even companies with multiple approved drugs can trade below their cash balances. Given this, it is truly perplexing to see AI-biotechs raise mega-rounds at the preclinical stage – Xaira with a billion-dollar seed, Isomorphic with $600M, EvolutionaryScale with $142M, and InceptiveBio with $100M, to name a few. The scale and stage of […]