Friday's Small-Cap Winners & Losers

The small-cap sector dragged under the broad indices Friday, under pressure from falling names like Spectrum Pharmaceuticals (SPPI Quote) and GPC Biotech (GPCB Quote).

Shares of the companies plummeted 28.5% and 35.9% respectively after a Food and Drug Administration advisory committee raised questions regarding their proposed prostate-cancer treatment, satraplatin, ahead of a July 24 meeting on the drug. Pharmion (PHRM Quote), which has commercialization rights to the drug in Europe, Australia and elsewhere, fell 6.9% to $25.28.

CyberSource (CYBS Quote), a payment processor based in Mountain View, Calif., slid nearly 13% to $12.03 after forecasting third-quarter non-GAAP income of 6 cents a share -- 3 cents short of Thomson Financial's estimates. Second-quarter earnings were in line. Authorize.Net (ANET Quote), which agreed to be bought by CyberSource in a stock-and-cash transaction last month, finished some 10% lower at $17.92.

Actions Semiconductor (ACTS Quote) lost 16.3% to $5.02 after reporting lower-than-expected income of $9.8 million, or 11 cents per American depositary share, in the second quarter -- nearly half of last year's EPS. West Virginia's International Coal Group (ICO Quote) posted a second-quarter loss that, at 7 cents a share, was a nickel wider than anticipated. Shares tumbled 10.3% to $5.07.

Elsewhere, Buckeye Technologies (BKI Quote) was lowered to reduce from neutral at UBS. The Memphis-based maker of cellulose-based specialty products shed $2.04, or 11.6%, to $15.51.

On the flip side, however, Nucryst Pharmaceuticals (NCST Quote) saw an explosion in trading volume that recently sent shares up some 190% after the FDA approved its broad-spectrum antimicrobial-barrier topical cream. The product contains Nucryst's patented nanocrystalline silver technology. Shares were soaring $4.25 to $6.48.