Ouch

Rico says he remembers the days of new drug launches, and the breath-holding that went into it at GSK and BMS.
But this, this takes the cake:
On Monday, Vanda Pharmaceuticals investors were disappointed when the FDA sent a rejection letter to Vanda for its drug iloperidone, a schizophrenia treatment. The news caused shares of the Rockville, Maryland-based company to fall a whopping 67.0%, or $2.25, to $1.11, in early afternoon trading. The stock has lost 93.9% of its value since its close of $18.57 on July 30, 2007.

Rico says he wonders who got smart and sold the stock short?