The AMEX Biotechnology Index plunged 7.05 points to 150.13on Tuesday as investors drove down prices of key stocks in theindex.
Greenwich Pharmaceuticals Inc. (NASDAQ:GRPI) led the fall,dropping $3.38 to $7.75 on sector-leading volume of 2.9 millionshares. The FDA has deemed the company's first drug to beunready to apply for marketing approval.
Immunex Corp. (NASDAQ:IMNX), off $2.25 to $28.75, andChiron Corp. (NASDAQ:CHIR), down $2 to $49.75, were amongsix other index stocks losing $1 or more.
The sell-off did not carry to other bioscience issues, which weremixed.
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