PDL shares plunge 32% as firm ends sale process
Shares in PDL BioPharma plunged 32%, after the US biotechnology firm decided to take itself off the market (Marketletters passim). Although the stock staged a partial recovery the following trading session, with a 5% rise to $11.25, on the day of the news, March 5, the firm's stock price nose-dived to a four-year low of $10.36.
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