Icagen Less Dead Than Last Night (ICGN)

Posted in pre-market 
October 27th, 2009

Icagen, Inc. (NASDAQ: ICGN) was already a low-priced small cap stock that fell sharply last night after its Phase IIa exercise-induced asthma study of its Senicapoc failed to demonstrate improvement in the primary study endpoints.  It does not anticipate continuing clinical development of senicapoc at this time.  Shares were down as much as 40% last night.  The trading is now “only” down about 19% at $0.62 after a $0.77 close.  The 52-week trading range is $0.31 to $1.68.  Average volume is only 220,000 shares. JON OGG

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