Both biotechnology stock indexes on Tuesday gave back nearlyall the gains they made during the previous session, followingthe lead of the Dow Jones industrial average, which tumbled48.90 points.

Profit-taking and a concern that Germany's cut in its interestrate was not deep enough were blamed for the plunge in theoverall market.

The Chicago Board Option Exchange (CBOE) index of biotechstocks fell 2.93 points to close at 143.57, and the AMEXBiotechnology Stock Index lost more than it gained Monday,dropping 4.64 points to finish at 152.35.

Among biotechnology issues in Tuesday's session, GenzymeCorp. (NASDAQ:GENZ) gave up $2.25 a share to close at $43.25,Gensia Pharmaceuticals Inc. (NASDAQ:GNSA) fell $1.75 to closeat $38 a share, and Chiron Corp. (NASDAQ:CHIR) lost $1.50 ashare, finishing at $50.50.

CellPro Inc (NASDAQ:CPRO) bucked the downward trend,gaining $1.25 a share to close at $14, as did Cephalon Inc.,(NASDAQ:CEPH) which added $1, ending the day at $10.25 ashare.

(c) 1997 American Health Consultants. All rights reserved.

No Comments