Biotechnology stocks were hard hit, along with most of thestock market on Monday, in troubles attributed to continuingworries about the slumping U.S. dollar.

Both of the sector's stock indexes sank Monday to their lowestcloses since June 25. The AMEX Biotechnology Index, was off5.64 to 138.95, while the CBOE (Chicago Board Option Exchange)Biotech Index dropped 4.54 to 133.72.

The fall-back was evident across the whole sector. Among theindustry's biggest market capitalization stocks: Amgen Inc.(NASDAQ:AMGN) declined $2.12 a share to $62.50; SynergenCorp. (SYGN) was off $2.88 to $42.75; Chiron Corp.(CHIR), down$1.75 to $46.25; and Genentech Inc. (NYSE:GNE) was off $1 to$32.

Several companies that have met with discouraging news inrecent weeks also retreated: Somatogen Inc. (SOMA), declined$1.62 to $16.13; and Cellcor Inc. (CLTX), fell $1 to $4.25.

Among the few gaining issues, all of them up 50 cents pershare, were Genelabs Technologies (GNLB) to $5.25; CeltrixPharmaceuticals Inc. (CTRX) to $6.75; and Applied ImmuneSciences Inc. (AISX) to $14.50.

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

No Comments