PharmaNet Development craters on dire Q1
Shares of PharmaNet Development Group, Inc. (Nasdaq: PDGI) are plunging after the drug development services company reported ghastly first-quarter results and lowered its full year guidance late Wednesday evening. The firm swung to a net loss on contract cancellations, while Wall Street was expecting a net profit of $0.30 per share.
Shares crumbled 30%, or $7.16, to $16.70 ahead of the opening bell. For detailed price information and recent news stories about PharmaNet Development, click PDGI.
