Dark Tuesday for the market, even darker for a few small cap biotech stocks

Acadia Pharma (biotech ticker: ACAD) shares tumbled nearly 70% (closed at 2.00) after company announced that their flagship, Parkinson’s drug, pimavanserin did not meet end point in their phase III testing.

Vion Pharma (biotech ticker: VION) shares dropped 23% (closed at 2.60) after FDA's cancer drug advisory panel voted unanimously against approval of Vion's leukemia drug Onrigin.

Sequenom, Inc (biotech ticker: SQNM) shares moved 14% (closed at 5.50) lower after sources confirmed that the rumor on news about strong indications for Sequenom's genetic prenatal test for Down syndrome results were fabricated and false, no news were released.


Tuesday update from top 5 Monday biotech gainers
HLCS gave back 14.5% closed at 2.39
ENCO gave back 10% closed at 0.225
BNV gave back (5.31%) closed at 0.606
CRIS gave back (0.5%) closed at 2.10
ULU unchanged closed at 0.18