Two California Companies See Stocks Drop Due to Drug Manufacturing Glitches
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News that a manufacturing glitch will delay by at least six months U.S. Food and Drug Administration approval of an experimental psoriasis drug from Berkeley-based Xoma Ltd. and South San Francisco-based Genentech Inc. sent both stocks cascading downward Friday. Xoma’s stock lost 42 percent of its value, declining $3.21 to $4.42. Genentech’s stock fell $4.29 to $44.70, a loss of 8.76 percent. The results of a study showed slight differences between the drug called Xanelim Source : accessmylibrary.com |