I think a lot of bio's got hammered yestaerday because of rumours a large fund is going out of business. According to AF (via twitter) that fund would be Ayer's capital, which has also a stake in Imuc.
Source: Seeling Alpha
3:24 PM A number of biotechs are sharply lower amid rumors of a sizable Bio-fund going out of business and liquidating its positions. It's Ayer Capital Management according to sources, reports Adam Feuerstein. (PCYC -5.6%), (CLDX -4.9%), (NPSP -3.1%), (HALO -3.8%). Read comments
Looking at the today’s chart of IMUC, I have to offer that IMUC’s price action might be related to the AGEN price action after it reported its preliminary results of its GBM drug that came out 11-12pm est around the beginning of the IMUC's fall today.
Also, we have been around 2.40 with spikes here and there since that Cantor deal at the beginning of April, I don’t see this price movement as a big deal.
but I don’t think it’s the market, biotech trades in its own little world and we’ve been up/flat on bad days like today on zero news for us.
We’ll see about IMUC’s price action this month, but you people should have a plan in place if your asset moves in either direction.