Biotechs end bleak week with late rally

Biotech indices rallied late Friday after sinking earlier in the day, but still lost ground during the week. The BioCentury 100 shed 87.07 to 7,475.14 on Friday, while the NASDAQ Biotechnology Index (NBI) lost 27.29 to 3,860.46 after dipping more than 2.5% in intraday trading. The NYSE Arca Biotechnology Index (BTK) shed 45.63 to 4,060.77.

For the week, the BioCentury 100 and BTK each lost 5%, and the NBI was down 4%. The BTK is off 9% since peaking July 20; the BioCentury 100 and the NBI are off 8% since peaking on that day. ...