Market Overview

10 Biggest Mid-Day Losers For Wednesday

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  • Ocular Therapeutix Inc (NASDAQ: OCUL) shares tumbled 23.3 percent to $5.83 after the biopharmaceutical company confirmed a major setback for its eye drug Dextenza, a therapy used for the treatment of ocular pain following ophthalmic surgery. Ocular confirmed in a press release after Tuesday's close it has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration relating to its re-submission of a New Drug Application (CRL) for Dextenza. The CRL states that the FDA can't approve the company's NDA in its present form.
  • Westmoreland Resource Partners LP (NYSE: WMLP) shares dropped 16 percent to $2.41.
  • Alder Biopharmaceuticals Inc (NASDAQ: ALDR) shares declined 14.1 percent to $10.48. Alder BioPharmaceuticals announced intent to offer 12.5 million shares.
  • Takung Art Co Ltd (NYSE: TKAT) shares dipped 13.7 percent to $4.10.
  • MSC Industrial Direct Co Inc (NYSE: MSM) shares fell 13.2 percent to $75.56. MSC Industrial Direct reported in-line profit for its third quarter, but issued weak earnings forecast for the current quarter.
  • AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) shares dropped 6.8 percent to $2.74 after declining 6.67 percent on Tuesday.
  • Ominto Inc (NASDAQ: OMNT) shares fell 5.5 percent to $11.58.
  • AMEC Foster Wheeler plc (NYSE: AMFW) shares dropped 4 percent to $5.42 after the company confirmed it has been informed by SFO that it has opened an investigation into merger.
  • Kindred Biosciences Inc (NYSE: KIN) shares fell 3.8 percent to $7.55. KindredBio priced 3 million share offering at $7.50 per share.
  • Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) slipped 2.5 percent to $25.34. Arena Pharmaceuticals announced a proposed public offering of $150 million of shares.

Posted-In: Mid-Day LosersNews Movers & Shakers Intraday Update Markets

 

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