Here's Why Spark Therapeutics, Inc. Is Getting Hammered Today

Here's Why Spark Therapeutics, Inc. Is Getting Hammered Today

Shares of Spark Therapeutics, Inc. (NASDAQ: ONCE), a biotech developing gene therapies, fell hard this morning after the company reported hemophilia trial data that bodes well for rival BioMarin Pharmaceutical Inc. (NASDAQ: BMRN). Spark Therapeutics stock has fallen about 40% as of 11:01 a.m. EST on Monday. 

Spark's stock surged when SPK-8011 produced some encouraging data earlier this year. It's giving a lot of its gains back today after the company released data that suggests a potential competitor from BioMarin might have the upper hand from this point forward.

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Source: Fool.com