It is not surprising to find an Icelandic business doing badly these days; the country has arguably been hit the worst of any in the current financial crisis. But the serious problems being felt at Iceland's deCode Genetics come more from US markets - from investment decisions made by its bankers, it says, and from a stock price that has plunged 54% since the beginning of September. Looked at one way, the past month has been a good one for the firm. It identified three new schizophrenia-associated mutations (H. Stefansson et al. Nature 455, 232-236; 2008). It filed an application with the US Food and Drug Administration to begin human tests of a new drug for Alzheimer's disease.
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