It's been rough for biotechnology stocks. The Nasdaq Biotechnology Index was down 20% early last week from its late February peak. The S&P Biotechnology index was off even worse, down 26%. These indexes have now come back some 6% and 4%, respectively. But the indexes don't capture the bloodbath that has hit smaller, more speculative names. These are generally biotechnology companies that are still in the development phase and aren't generating significant revenues.
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