Cayden Liu
Analyst, The Fershman Journal
Cayden is a freshman at The University of Chicago who intends to double major in Economics and Creative writing/Psychology. His interests revolve around fiscal policy, financial markets, and emerging innovations with global impact. In The Fershman Journal, he wants to write about M&A and investments in any sector, whether it's from pharmaceutical to financial.
Cayden Liu
Analyst, The Fershman Journal
Cayden is a freshman at The University of Chicago who intends to double major in Economics and Creative writing/Psychology. His interests revolve around fiscal policy, financial markets, and emerging innovations with global impact. In The Fershman Journal, he wants to write about M&A and investments in any sector, whether it's from pharmaceutical to financial.
Cayden Liu
Analyst, The Fershman Journal
Cayden is a freshman at The University of Chicago who intends to double major in Economics and Creative writing/Psychology. His interests revolve around fiscal policy, financial markets, and emerging innovations with global impact. In The Fershman Journal, he wants to write about M&A and investments in any sector, whether it's from pharmaceutical to financial.

Cayden Liu — Articles

A Cure Too Risky to Buy?
Author Image

Cayden Liu

Merck’s decision to walk away from Revolution Medicines highlights the tension between scientific promise and financial risk. In oncology, even breakthrough drugs carry uncertain returns, leaving firms to weigh billion-dollar bets against fragile probabilities.

A Cure Too Risky to Buy?

Author Image

Cayden Liu

Racing the Mineral Bottleneck: EMAT’s Bet on Going Public Early
Author Image

Cayden Liu

The rush toward AI infrastructure and electrification has turned critical minerals into one of the most crowded trades of 2026. EMAT’s decision to enter public markets through a reverse merger offers speed and exposure, but little of the trust traditionally built through an IPO.

Racing the Mineral Bottleneck: EMAT’s Bet on Going Public Early

Author Image

Cayden Liu

J&J’s Big Swing: The Single Pill Acquisition That Shook Biopharma
Author Image

Cayden Liu

Johnson & Johnson dropped $14.6 billion on a company whose value rests almost entirely on one psychiatric drug. Caplyta may be a blockbuster, or it may be the most expensive overreach in biotech since 2022. This is a high-risk, high-premium gamble at a moment when Big Pharma can’t afford missteps.

J&J’s Big Swing: The Single Pill Acquisition That Shook Biopharma

Author Image

Cayden Liu