IMMUNEX, REGENERON BOUNCE BACKPrices of Immunex Corp. and Regeneron Pharmaceuticals Inc.common stock regained some of the ground they lost last week,closing up in Friday's trading. Regeneron (NASDASQ:REGN)closed at $16.25, up $1.50. That was still below both theprevious Friday's $17.75 close and the April 2 initial publicoffering price of $22..
Immunex (NASDAQ:IMNX) picked up 75 cents on Friday,closing at $48.25. The stock fell from $57 the previous Fridaydue to a negative analyst's report on its granulocytemacrophage colony stimulating factor.
Amgen Inc. (NASDAQ:AMGN), the sectorLs bellweather stock,gained $3.75 on the week to close at $133.50. The Dow closedthe week up 24 points.
CAMBRIDGE BIOTECH ANNOUNCES FOUR NEW TESTS
Cambridge Biotech Corp. of Worcester, Mass., said it hasdeveloped four new Western blot confirmatory diagnostic testsfor research use. The tests detect antibodies to HIV-2, HTLV-I/II and Lyme bacteria. HIV-2 is the second form of the AIDSvirus. HTLV-I and HTLV-II are retroviruses that cause certainforms of leukemia. Lyme disease is now the most common tick-borne disease in the United States.
BIOSPHERICS TO EXCHANGE PATENT FOR ROYALTIES
Biospherics Inc. of Beltsville, Md., has signed a letter of intentto give TETRA Technologies Inc. of Houston patent rights towaste water treatment technology in exchange for royalties.The process, called PhoStrip, uses microorganisms present inwaste water to remove nutrients from municipal waste waterdischarges. The product is being used by 25 municipalities.
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