They’re supposed to be on the cutting edge of medicine. Yet some tiny biotech companies, largely left behind in the stock market’s breakneck rally, are pursuing a new cure-all: Cryptocurrencies.
Shares of 180 Life Sciences Corp., now doing business as ETHZilla, tripled after the Peter Thiel-backed company said it had accumulated Ether tokens worth over $350 million. Less than two weeks later, the stock’s gains have been erased. In July, Sonnet BioTherapeutics Holdings soared 243% in one volatile session on plans to transform into a public crypto treasury while MEI Pharma Inc. initially doubled on plans to sell ...
