This Legendary Billionaire Biotech Investor Has Remained A Mystery—Until Now

In an exclusive excerpt from For Blood And Money, the untold story of Wayne Rothbaum and the worst trade of his life. But what cost him some $700 million turned out to be the boon for countless cancer patients.

Robert Duggan had been warned by his investors relations consultants before his next meeting. “Get ready for this one.” Duggan and his team were on a fundraising trip in New York to pitch Pharmacyclics, their tiny and struggling biotechnology company, to hedge funds and investment firms. They were told their next appointment would be different from the usual PowerPoint and Q&A session.

The meeting was with Wayne Rothbaum, an under-the-radar trader who specialized in biotechnology stocks. “He can be really brutal sometimes,” Duggan was told. “He may accuse you of lying.” Another person, Thomas Turalski, would also be there. “He likes to tag team people with his friend Tommy,” they were told. “Tommy works for Joe Edelman.”