Cytokinetics, Inc. Stock Plunges 21.5% as of 1:58PM EST After Phase II Results Released

BOSTON (MarketWatch) -- The two leading indexes for the drug sector diverged modestly early Monday while shares of Cytokinetics Inc. /quotes/comstock/15*!cytk/quotes/nls/cytk (CYTK 2.33, -0.60, -20.48%) plunged after it released Phase II data for its treatment for ALS, or Lou Gehrig’s disease. Cytokinetics shares were down almost 20% at $2.35. The NYSE Arca Pharmaceutical Index /quotes/comstock/10t!drg.x (DRG 303.31, +1.00, +0.33%) rose marginally to 302.86 as the NYSE Arca Biotechnology Index /quotes/comstock/10t!btk.x (BTK 1,177, -4.38, -0.37%) fell nominally to 1178.11.