Neil Woodford has said he will stop investing in beleaguered US pharmaceutical Northwest Biotherapeutics, after the value of its stock fell by nearly 90% amid a raft of problems at the firm.
The manager (pictured) of the £9.4bn Woodford Equity Income fund currently has a small holding in the stock in the fund, and 0.3% in his £761m Patient Capital Trust. Woodford Investment Management was the firm's largest shareholder, with a 21% stake. However, the value of his original holding in the firm has fallen from $180m to just $15m (£11.9m), according to The Times. Woodford has now decided to stop investing in the company, which has been labelled a "house of cards" by one short-seller, the paper reports. The firm has been developing a novel brain cancer treatm...
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