Why AVEO Pharmaceuticals, Inc. Tanked 18.6% in October

Why AVEO Pharmaceuticals, Inc. Tanked 18.6% in October

Shares of AVEO Pharmaceuticals (NASDAQ: AVEO), a small-cap biopharma focused on cancer, fell 18.6% in October, according to data from S&P Global Market Intelligence. There doesn't appear to be any company-specific news that can justify the big downward movement. However, AVEO's shareholders have had to deal with a lot of volatility in the recent past, so October's double-digit plunge isn't exactly unprecedented.

Here's a quick review of the news out of AVEO last month:

Since neither of these announcements can help explain the big sell-off, AVEO's investors should probably chalk up October's fall to normal small-cap biotech volatility.

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Source: Fool.com