Interesting read about the biotech company argenx, a former portfolio company of Thuja that was successfully exited. In this case, the desert refers to the market for biotech stock, which is currently not flourishing at all. Nevertheless, argenx achieved to raise $700M with the issuing of new shares last week and is likely to add another $100M in the near future. The Belgian biotech company develops medicines using antibodies from lamas, and recently marketed its first product.
You can read the entire article in the FD (link). The article is in Dutch.