Word: biobomb
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...decent rally in 10 years took shape last December. Biotechs bedazzled for three months, surging 175%--only to crumble over the past few weeks. A slew of "promising" companies are now worth half what they fetched in the market the first week of March. Some much less. Consider this biobomb: Protein Design Labs leaped from $97 on Feb. 4 to $327 on March 2 and back to $97 on March 7--completing an expensive round trip. That painful voyage is all too familiar in biotechland...
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