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Biotech stocks overall ticked up slightly Thursday, but one notable exception was Cell Genesys(CEGE Quote), which sank 75% to 17 cents on word of a serious clinical setback.
The decline in Cell Genesys came after the company said it terminated a second study on its prostate cancer vaccine GVAX, and said it would cut 75% of its workforce.
Still, Cell Genesys did little to hurt the Nasdaq Biotechnology index, of which it's a component. The index added 3.3%, outperforming the broader market. ...
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