BIOTECH ISSUES REBOUNDAfter three hard weeks, biotechnology stocks showed upwardmovement on Tuesday. The Amex Biotechnology Index postedits second biggest one-day gain in June, rising 3.48 to close at140.180.
Among the biggest gainers were Cygnus Therapeutic Systems(NASDAQ:CYGN), which gained $2.75 a share to close at $13.50and Immune Response Corp. (NASDAQ: IMNR), which climbed$1.75 a share to $21.75.
News sparked other stock prices. Medarex Inc. (NASDAQ:MEDX)rose $2 a share to close at $10.25 after a scientific journalpublished a report that the company's experimentaltherapeutic appears to neutralize HIV. Chiron Corp.(NASDAQ:CHIR) rose $1 a share to close at $50.50 following anannouncement that it was issued a U.S. patent for DNA signalamplication technology.
(c) 1997 American Health Consultants. All rights reserved.