As a reminder how fragile biotech stocks can act, we show a picture of Kendle International. Which was halved yesterday after the company announced that it will not meet analyst expectations for the first quarter of 2009.
From Reuters:
Shares of Kendle International Inc (KNDL) fell as much as 61 percent to a four-year low on Tuesday, a day after the provider of clinical development services to biopharmaceutical firms said it would miss analyst expectations for the first quarter. In a regulatory filing, Kendle said its cancellation rate in the first quarter was more than 45 percent, compared with a forecast of 18 percent.
Also colleagues ICON (ticker: ICLR) and Parexel International (ticker: PRXL) were beaten down.
From Reuters:
Shares of Kendle International Inc (KNDL) fell as much as 61 percent to a four-year low on Tuesday, a day after the provider of clinical development services to biopharmaceutical firms said it would miss analyst expectations for the first quarter. In a regulatory filing, Kendle said its cancellation rate in the first quarter was more than 45 percent, compared with a forecast of 18 percent.
Also colleagues ICON (ticker: ICLR) and Parexel International (ticker: PRXL) were beaten down.
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