In trading on Wednesday, biotechnology shares were relative laggards, down on the day by about 3.8%. Helping drag down the group were shares of Ariad Pharmaceuticals (NASDAQ:ARIA), down about 70% after the company announced it would suspend enrollment for its clinical development program for its leukemia drug. Also lower today were shares of Puma Biotechnology (NYSE:PBYI) down about 17.1% so far.
Also lagging the market Wednesday are drugs shares, down on the day by about 3.3% as a group, led down by Lpath (NASDAQ:LPTN), trading lower by about 19.7% and Cytrx (NASDAQ:CYTR), trading lower by about 18.1%.
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