Morning Market Losers

Targacept TRGT dropped 32.61% to $4.01 after the company announced negative top-line results from Phase 2b clinical trial of TC-5619 in Schizophrenia. Rockwell Medical RMTI plummeted 23.61% to $10.29 after Brean Capital initiated coverage on the stock with a Sell rating. CombiMatrix CBMX dropped 18.60% to $2.32 after the company priced an offering of 12,000 units of Series D convertible preferred stock and warrants at price to the public of $1,000 per unit. CGG CGG dropped 15.86% to $16.76. CGG presented the latest phase in its strategic roadmap.