The S&P 500 was down 0.8% in midday trading to 2,831.49.

The Dow Jones Industrial Average fell 1% to 25,263.25.

The Nasdaq was down 0.7% to 7,837.23.

The yield on a 10-year Treasury bond plunged 2.2% to 2.87%.

The price of gold was flat at $1,219.


Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) in Irvine was up 13% to $22.60 and a $2.3 billion market cap. The maker of drugs for cancer and blood diseases said quarterly revenue fell 30% to $24.2 million and loss from operations nearly doubled to $34.3 million, year-over-year, but two of its drugs are in later-stage trials, meaning they’re nearer to seeking FDA approval. Spectrum recorded net income of $13.7 million, including a $48.5 million “unrealized gain on our CASI Pharmaceuticals, Inc.,” according to an SEC filing. Spectrum owns 13% of in Rockville, Md.-based CASI, a licensee of some of its drugs for the China market.

Cyroport Inc. (Nasdaq: CYRX) in Irvine fell 9% to $14.65 and a $406 million market cap. Quarterly revenue rose 60% to $4.6 million and net loss grew by a third to $2.4 million, year-over-year. Shares had risen 120% in 90 days.

Endologix Inc. (Nasdaq: ELGX) fell 40% to $2.87 and a $241 million market cap. Quarterly revenue at the maker of a device to treat abdominal aortic aneurysms declined 8% to $44.7 million and net loss grew 50% to $23.8 million.

Biolase Inc. (Nasdaq: BIOL) in Irvine was up 12% to $1.33 and a $26 million market cap. The dental laser maker named a new chief executive. Shares had declined 4% yesterday following another quarterly loss.