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On a grim day in which the stock market plunged about 3%, local biotechs got hammered even more. Neurocrine Biosciences plummeted 7.28% to $2.17; Vical dropped 5.5% to $2.92; Amylin -5.78% to $17.29; Arena -5.63% to $3.02, Ligand -4.6% to $1.66, and Isis -5.28% to $11.12. Others fell in line with the market: Quidel -2.14% to $13.24 and Biogen Idec (the Idec part originated in San Diego) -2.75% to $53.10. One bucked the trend: Sequenom, which launched a fetal test, rose 3.67% to $4.24. Biotechs have woes with a lack of venture capital and fears that healthcare industry changes will harm financial results.
On a grim day in which the stock market plunged about 3%, local biotechs got hammered even more. Neurocrine Biosciences plummeted 7.28% to $2.17; Vical dropped 5.5% to $2.92; Amylin -5.78% to $17.29; Arena -5.63% to $3.02, Ligand -4.6% to $1.66, and Isis -5.28% to $11.12. Others fell in line with the market: Quidel -2.14% to $13.24 and Biogen Idec (the Idec part originated in San Diego) -2.75% to $53.10. One bucked the trend: Sequenom, which launched a fetal test, rose 3.67% to $4.24. Biotechs have woes with a lack of venture capital and fears that healthcare industry changes will harm financial results.