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July 13, 2012
11:49 EDTQCORQuestcor down 6% following presentation at investor conference
Shares of biopharmaceutical company Questcor Pharmaceuticals (QCOR) slid in mid-morning trading as the company presented at the JMP Securities Healthcare Conference. During the presentation, the company's Chief Scientific Officer discussed the mechanism of action and unique biological and clinical properties of the company's primary product, Acthar Gel. The company also focused on its strategic plan to focus on "the embedded pipeline in Acthar," highlighting its research and development plans. Investors may have been disappointed that the company did not directly speak to allegations recently made by short sellers, specifically the accusations made by Citron Research in a report published July 10. In mid-morning trading, Questcor fell $2.88, or 6.33%, to $42.60 after being up marginally at the open.
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