One of the biggest names in the biotech industry, Clovis Oncology, is enduring a huge gap down this morning on the highest volume of the year. It did not take much to knock this giant on its ass. A mere FDA request for additional clinical information regarding one of their stupid drugs, rociletinib.
The news is putting pressure on the whole industry this morning despite an early rally in index prices.
Keep an eye on CLVS. Either the buy the blood investors see this as an opportunity, or the -70% gap down scares people away. I am looking for the latter.
If you enjoy the content at iBankCoin, please follow us on Twitter
