Newspaper article St Louis Post-Dispatch (MO)

Synergen Falls; Earnings Buoy Other Issues

Newspaper article St Louis Post-Dispatch (MO)

Synergen Falls; Earnings Buoy Other Issues

Article excerpt

Synergen Inc. said Monday its lead product Antril had failed in clinical trials for treatment of the blood infection sepsis and that it would cut its staff in half, sparking a steep drop in its stock on Wall Street.

The Boulder, Colo., company's stock lost nearly half its value in heavy trading after the announcement, falling $4.375 to $4.50 on the NASDAQ system, where it was the second most active issue.

Wall Street analysts said the company may become a takeover target.

Synergen is the latest company to fail in its efforts to find a drug to treat sepsis, an often fatal blood infection that is a common cause of death in hospitals. Among the others are Centocor Inc., Chiron Corp. and XOMA Corp.

Among other issues Monday, Microsoft Corp. rose after a favorable antitrust settlement, leading a rebound in technology stocks.

Retail issues also rallied and confidence grew that second-quarter earnings will show bigger gains than expected.

Companies ranging from Chase Manhattan Corp. …

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