It may look good on paper, but the 60% upswing in Perigrine Pharmaceuticals (PPHM +50%) this...

|By:, SA News Editor

It may look good on paper, but the 60% upswing in Perigrine Pharmaceuticals (PPHM +50%) this morning is a paltry move compared to yesterdays 75% cratering the shares took after reporting that previously released results from a midstage cancer drug study aren't reliable because of a third-party error. The big relative move off the bottom is largely a "dead cat bounce" when you consider that it still remains down 67% from Friday's close.