Biotech Stocks Tumble in Longest Selloff in Two Decades: ChartAnna-Louise Jackson and Bailey Lipschultz
The Nasdaq Biotechnology Index fell Friday for a ninth straight day, marking its longest selloff since June 1996. The group has tumbled 10 percent since June 6, dragged down by an 18 percent decline in Biogen Inc. after the company said an experimental drug for multiple sclerosis failed in a mid-stage trial. ImmunoGen Inc. slumped 41 percent during the period to the lowest since October 2008, while Infinity Pharmaceuticals Inc. led the group’s slide with a 73 percent plunge in nine sessions.
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