BIOTECH ISSUES LEAP FORWARDIn its biggest one-day jump this month, the AMEXBiotechnology Index climbed 5.49 on Thursday to 154.06 amida brisk rally in the overall market. The NASDAQ compositeindex, by comparison, rose 7.18 to 564.75.
Two biotechnology stocks moved up following news and ananalyst's views.
-- Applied Biosystems Inc. (NASDAQ:ABIO), which announcedlate Wednesday that it formed Lynx Therapeutics Inc. todevelop antisense drugs, gained $1 a share Thursday to close at$14.25.
-- Amgen Inc. (AMGN) increased $1.25 a share to close at $63after Kidder Peabody analyst Dennis Jarrett told Reuter's heexpected the stock to rise due to technical factors. He also citedImmune Response Corp. and Synergen Inc.
Other big gainers Thursday included Alteon Inc. (ALTN), up$1.50 a share to $16; Gensia Pharmaceuticals Inc. (GNSA),which rose $2.88 share to $41.75. Applied Immune SciencesInc. (AISX), which increased $1.25 a share to $18; and AramedInc. (ARAMZ), which rose $4 a share to $47.50.
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