ICN Stock Rebounds on a Moderate Scale

ICN Pharmaceuticals Inc. common stock--which dropped sharply Friday when the company released results of some of the tests of its potential AIDS medication, Virazole--rebounded modestly Monday as ICN officials reiterated plans to seek federal permission to administer the drug on a compassionate basis to patients who are infected with the AIDS virus but do not have severe symptoms.

After Friday’s steep, $4-a-share drop on the New York Stock Exchange, ICN shares gained $2.625 in brisk trading to close Monday at $23.875 a share. More than 993,700 shares changed hands.

The stock dropped Friday despite the generally positive results of the clinical tests, analysts said, because investors had expected results of tests still being conducted.