BioCentury
ARTICLE | Finance

Ebb & Flow

March 17, 2003 8:00 AM UTC

Last Friday was the third anniversary of the popping of the genomics bubble, and biotech valuations continue to drift down. Although the drop is no longer precipitous, the BioCentury 100 index is testing whether it wants to set up shop beneath the 900-point level.

The index did fall through the 900 floor on Monday, losing 1.3% to 890 on the day. It was the first time the index had fallen below 900 since the week ended Oct. 30, 1998, when it settled at 844. ...