Nasdaq Losers At Midday: BPAX, ITMN, PEIX, DECK, OREX
BioSante Pharmaceuticals, Inc. (NASDAQ:BPAX) is down 77.58% in midday trading at $0.4754. BPAX has traded 35.7 million shares so far today, well above its daily average of 1.9 million shares. BioSante is down big today after the company said two phase III studies of its LibiGel testosterone treatment did not meet primary endpoints. The treatment did not have a significant difference compared to a placebo. The company has a market cap of 52.55 million.
InterMune, Inc. (NASDAQ:ITMN) is down 24.28% in midday trading at $13.85. ITMN has traded 10.3 million shares so far today, ten times its daily average. The company has a market cap of 918.41 million.
Pacific Ethanol, Inc. (NASDAQ:PEIX) is down 14.15% in midday trading at $0.91. PEIX has traded 9 million shares so far today, already higher than its daily average for the day. PEIX has fallen more than $0.30 since last Friday. Pacific Ethanol has a market cap of 69.39 million.
Deckers Outdoor Corp. (NASDAQ:DECK) is down 10.43% today at $85.62. DECK has traded 3 million shares so far today, more than double its daily average. DECK stock dropped today after Sterne Agee downgraded the company from buy to underperform. The company has a market cap of 3.30 billion.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) is down 9.64% at $1.50. OREX has traded 596 thousand shares so far today and trades 739 thousand shares a day on average. OREX is down today after the company announced a public offering of common stock and warrants. The price for the stock is $1.45 and $1.449 per warrant to purchase to each share of stock. Orexigen has a market cap of 71.65 million.
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