Morning Market Losers (MNOV, IRDMW, PCE, SCHL)

MediciNova Inc MNOV fell 24.44% to $2.69 at 9:50 am. MNOV priced its underwritten public offering of 2,750,000 units at $3.00 per unit. Iridium Communications Inc IRDMW shares lost 13.11% to $2.65. IRDMW's trailing-twelve-month profit margin is 6.52%. Pacific Office Properties Trust PCE dropped 11.61% to $2.20. PCE's trailing-twelve-month ROE is -176.18%. Scholastic Corporation SCHL shares dipped 11.56% to $27.63. SCHL reported downbeat FQ3 results and issued weaker-than-expected FY11 earnings guidance. Read more from Benzinga's Markets.