U.S. Bioscience Inc. continued its upward march on Thursday,finishing at $62.75, up $6 on the day and up 58.4 percent inthe past three days.
On Tuesday, the West Conshohocken, Pa., company (AMEX:UBS)announced that the Food and Drug Administration will reviewthe company's Ethyol product, which protects normal cells fromchemotherapy.
Shares of ImmuLogic Pharmaceutical Corp. rose $2.50 to$19.75, reflecting Wednesday's announcement of a majorcollaboration with Marion Merrell Dow Inc. to develop andmarket ImmuLogic's Allervax allergy products.
Merrill Lynch analyst Stuart Weisbrod raised his intermediate-term rating on the stock (NASDAQ:IMUL) to "above average"from "neutral." In addition to providing funding in excess of$50 million, he wrote, the agreement lower's ImmuLogic'sproduct risk and legitimizes its technology.
Weisbrod also raised his 1991 loss estimate to $1.22 per sharefrom 85 cents and lowered his 1992 loss estimate to 60 centsfrom 83 cents. The changes reflect shifts in some contractrevenue, interest revenue and research and developmentexpenses. -- KB
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