Osiris Therapeutics, Inc. (NASDAQ: OSIR) is getting clobbered hard as the biggest loser seen so far this morning. The company announced that its stem cell drug Prochymal failed both pivotal phase III studies in patients with graft-versus-host-disease. In short, back to the drawing board and back to drawing cash with stem cell research. This was halted for news at $12.21, but at 8:44 AM EST we have seen a 41% drop to $7.35 in the stock on over 140,000 shares versus a 310,000 share average daily volume. This will be an exponential volume dropper today. On day last week this traded 2.3 million shares and you have to go back to March 27 for another 2 million share day. Our guess is that today’s volume will blow those very active days away by a mile. Osiris does have stock options, and these were VERY active in SEPT-2009 PUTS and pretty active in CALLS on Friday. -JON OGG
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