After a solid start to the day, in afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has faded and finds itself down 0.1% to 5,718 points.
Four shares falling more than most today are listed below. Here's why they have sunk lower:
The Bionomics Ltd (ASX: BNO) share price has tumbled 5% to 46 cents despite there being no news out of the fledgling biotechnology company. But with its shares up over 40% year-to-date I wouldn't be surprised if today's decline related to profit-taking. I wouldn't be in a rush to sell shares if I were a shareholder, I think Bionomics is one of the most exciting biotech shares in Australia.
The CogState Limited (ASX: CGS) share price has fallen over 5% to $1.06 following the release of its full-year guidance. Unfortunately the cognitive science company has had a weaker-than-expected second-half due to delays in the execution of sales contracts. As a result, management expects to post a $1 million loss this year.
The Hydroponics Company Ltd (ASX: THC) share price has plunged 8% to 29 cents even though the diversified cannabis company announced that it has been granted a medicinal cannabis licence. Management believes it is now well placed to lead the development of high quality and cost effective medicines derived from cannabis sativa.
The Reckon Limited (ASX: RKN) share price is down almost 7% to $1.51. This latest gain means the software solutions company's shares have now fallen close to 12% in the last 30 days. At present Reckon is in the process of demerging its Document Management segment into an independent and UK-listed company by the name of GetBusy Plc.
