WASHINGTON (dpa-AFX) - Biotechnology stocks have shown a significant move to the downside over the course of the trading session on Tuesday, dragging the NYSE Arca Biotechnology Index down by 1.3 percent.
The biotechnology index is giving back ground after surging up by 2 percent in the previous session.
Acadia Pharmaceuticals (ACAD) has helped to lead the sector lower, with the biopharmaceutical company plunging by 8.9 percent.
Intercept Pharmaceuticals (ICPT) and bluebird bio (BLUE) are also posting steep losses, slumping by 4.9 percent and 3.6 percent, respectively.
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