ASCO Data Springs More Biotech Leaks

ASCO is leaking again.

Important cancer research data that were supposed to remain confidential and under wraps until next month's annual meeting of the American Society of Clinical Oncology have, instead, been leaked to select investors this week.

The result is volatility in the trading of some biotech cancer stocks. ImClone Systems (IMCL Quote) fell 6% Tuesday and dropped another $1.48, or 3.6%, to $39.85 on Wednesday because an ASCO research abstract that detailed results from a study of Erbitux in colon cancer made its way onto Wall Street trading desks. ...