DNA : Drug Trial Testing Halted

Today I shorted DNA at the open for a day trade and had a large profit going, but as you can see the stock bounced towards the end of the day. Lesson learned? Take your profits as they come because if you don't someone else will!

Here is why DNA was down as reported by Dow Jones
DJ reports a small trial of DNA's Avastin drug in people with a form of lung cancer was halted because at least two people developed a digestive-tract disorder, one fatal, the biotechnology company disclosed Friday. Two patients in the small-cell lung cancer study developed tracheoesophageal fistula, which can disrupt the gastrointestinal tract; one of them died. There was another death that may have been caused by the disorder, but the cause hasn't been confirmed, Genentech spokeswoman Kristina Becker said Friday. Some 29 patients were originally enrolled in the study, and 18 were still participating at the time it was shut down, Becker said. Becker said tracheoesophageal fistula has been associated with various cancers with tumors in or near the neck. She said it was difficult at this time to tell whether the events in the Avastin trial were due to the underlying disease or the combination of Avastin with radiation.

DNA was down over 3% today closing at 82.56