Investors unloaded shares in Corgentech Inc., which on Monday reported a Phase III failure. The sell-off dropped the South San Francisco-based company's stock (NASDAQ:CGTK) by 59.2 percent, or $11.29, to close at $7.71. (BioWorld Today)

Investors unloaded shares in Corgentech Inc., which on Monday reported a Phase III failure. The sell-off dropped the South San Francisco-based company's stock (NASDAQ:CGTK) by 59.2 percent, or $11.29, to close at $7.71. (BioWorld Today)