Biotech’s ‘sugar high’ led to a correction, but winter doldrums could make way for a turnaround story this fall

In drug development, the running joke is that you can conduct well-controlled experiments, with a placebo arm and a study drug cohort.

“You can’t do that in finance,” as Karuna Therapeutics CFO Troy Ignelzi says.

Troy Ignelzi

As the clock struck 2022, that became glaringly…