Volume Spike Investor

Indevus Pharmaceuticals Inc. (NASDAQ: IDEV) is seeing shares taken behind the building to face the firing squad.  Shares were halted earlier, but now that the market has opened it isn’t looking good at all.  Indevus shares are down 66% at $1.37, and its prior 52-week trading range was $3.91 to $8.22.  The stock has traded almost 15 million shares in the first 20 minutes after the open, and its average volume is only about 570,000 shares.

With a now much lower market cap of $107 million, its balance sheet looks inverted because of a $142 million deferred long-term liability charge on the books.  It had $60.765 million cash on the books at the end of last quarter.

See full news summary and analysis from BioHealthInvestor.com.

Jon Ogg
June 4, 2008