Two new pseudopteranoid diterpenes have been isolated from the gorgonian coral Pseudopterogorgia acerosa and have been characterized by NMR and mass spectrometry. These include 15-chlorodeoxypseudopterolide (1), the first halogenated pseudopterane diterpene, and 11-epi-pseudopteranol (2), an epimer of the previously described 11-pseudopteranol. In addition, six known diterpenes were also isolated from this collection including deoxypseudopterolide (3), pseudopteradiene (4), acerosolide (5), pseudopterolide-methanol adduct (6), 11-pseudopteranol (7), and isogorgiacerodiol (8). The cytotoxicity of these eight compounds towards three cancer cell lines (HeLa, PC-3, and HCT116) was assessed and the chlorinated pseudopteranoid 1 was found to have modest but selective activity against HCT116 (IC50 2.7 µmol/L), whereas its nonchlorinated derivative 3 was inactive. This indicates that the halo functionality can modify the cytotoxic activity of pseudopteranoids and potentially other classes of deterpenes.