VeriChip shares plunge

The Ottowa Citizen | Sept. 10, 2007

By Bert Hill

Shares of VeriChip Corp. plunged as much as 14 per cent today following a report linking implanted microchips to cancer in lab rats.

The Florida company, which develops and makes products in Ottawa, saw its stock drop as much as 14 per cent, the biggest decline since it went public early this year.

The Associated Press reported on a 1996 study which found a cancer link. It said it was not clear whether U.S. regulators considered the study before approving the use of the chips in humans.

VeriChip said in a statement that studies have shown the implanted chips are safe for humans, as well as for the millions of household pets who have also received them as identification devices.