This morning, shares in GPC Biotech and Spectrum Pharmaceuticals are plummeting after a panel of experts advised the U.S. Food and Drug Administration to delay approving their prostate cancer pill, satraplatin.Shares in GPC, the German biotech that would have sold the drug, dropped 33% to $13.54. Spectrum, which would have received a royalty on sales, dropped 12% to $4.19. (For previous doubts on satraplatin, see “Cancer Drug Winners And Losers.”)
