SciClone Down, Not As Bad As It could Have Been (SCLN)

Posted in pre-market 
October 5th, 2009

SciClone Pharmaceuticals, Inc. (Nasdaq: SCLN) is trading down on a Friday report that it has halted its trial of a pancreatic cancer drug candidate per its independent monitoring committee.  This would be worse if the company was not diversified and if the company was not profitable.  At 8:40 AM EST we have seen only 5,000 shares trade and the stock is down 7% at $3.85 after closing at $4.15.  This one traded over 81,000 shares Friday night and was down 13% to $3.60.

UPDATE at 9:12 AM EST: Shares have increased selling and are now down over 15% at $3.50 on only 15,000 shares seen so far.


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