SECTOR CONTINUES DECLINEWith no major news to move the sector, biotechnology stockprices on Tuesday generally followed the overall market --down.
The AMEX Biotechnology Index fell 3.75, or 2.5 percent, to147.86, posting a fourth straight daily decline. By comparisonthe NASDAQ composite index was down 8.21 to 573.80 (1.4percent); and the Dow Jones industrial average was off 34.21 to3,369.92 (1 percent).
Centocor and Xoma, two stocks that were shaken last week bybad news concerning their respective drugs to treat sepsis,followed the larger market trend. Xoma (NASDAQ:XOMA)dropped $1 a share to close at $14.25, and Centocor(NASDAQ:CNTO) fell 25 cents to $13.75.
Stocks giving up at least 10 percent of their market value onTuesday included Amylin (NASDAQ:AMLN), down $1.25 to closeat $8.75 a share; Emisphere Technology (NASDAQ:EMIS), off$2.25 a share to $18; Immune Response (NASDAQ:IMNR), down$2.50 a share to $20.75; and Alkermes (NASDAQ:ALKS), down$1 share to $9.
Among the few gaining issues were Corvas International(NASDAQ:CVAS), which rose 50 cents to $7; MedImmune Inc.(NASDAQ:MEDI), which climbed $1.50 a share to close at $22;and IG Laboratories (NASDAQ:IGLI) gained $1 to close at$10.50.
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