• 04 Aug 2011 at 6:30 PM

Healthcare Team May Be Latest Creatures Suspended In Formaldehyde And Put On Display In SAC Capital Lobby

By Bess Levin

SAC Capital Advisors may have a one-day paper loss of about $196 million from its stake in Dendreon Corp. (DNDN), the drugmaker that plunged the most ever after it withdrew its 2011 revenue estimate. SAC Capital owned 8.2 million shares of Seattle-based Dendreon as of March 31, making it the biggest shareholder, according to a regulatory filing. Dendreon fell 67 percent, or $23.87, to $11.97 at 3:15 p.m. New York time in Nasdaq Stock Market trading, the largest decline since its initial public offering in June 2000. [Bloomberg]

Comments (3)

  1. 1
    Posted by 2StopShop | August 4, 2011 at 8:17 PM

    Ouch. That's a whole lotta quarter zip fleece sweaters.

  2. 2
    Posted by Anal_ist | August 4, 2011 at 9:47 PM

    and estrogen pills.

  3. 3
    Posted by 25th Hour Trader | August 5, 2011 at 1:21 PM

    It's nice to see someone other than us losing a lot of money in Stamford.

    -UBS, who would like to remind everyone that whether we move to midtown NYC or south central Saskatchewan, we will continue to destroy value, fire people and provide material for the DB community.

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