October 09, 2013 at 18:40 PM EDT
Biotech ETFs Bleed 3 Months Of Gains In Two Days
An epic hemorrhage in Ariad Pharmaceuticals went viral across the industry Wednesday, erasing the past three months of returns in biotech ETFs. Ariad Pharmaceuticals (ARIA) shares plunged as much as 77% in morning trade after announcing that its leukemia drug Iclusig caused a higher rate of blood clots than previously known and that the Food and Drug Administration halted patient enrollment in the testing indefinitely. The Cambridge, Mass.-based
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
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