A Battered Biotech Bounces BackBy
Jumping into biotechs was one of the most lucrative plays last year, when shares of most companies trying to develop new medical products boomed. But there also were stocks that delivered tremendous pain to investors. Xytronyx, which has been seeking U.S. government approval to market its disposable kit to test for periodontal diseases, was one that turned into an investor's worst nightmare. With no warning, Xytronyx plunged more than 14 points, to 13 a share, on Nov. 15.
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