Executives at Immune Response Corp. on Tuesday...

Executives at Immune Response Corp. on Tuesday linked the company’s recent stock drop to conditions in the biotechnology industry in general, not roadblocks facing an HIV vaccine under development at the Carlsbad-based biotechnology company. Immune Response was unchanged at $14 in over-the-counter trading on Tuesday. In contrast, the company’s stock traded as high as $62.75 late in 1991.

The drop in Immune Response’s stock “reflects the decline of stocks in the biotechnology industry as a whole,” Immune Response spokesman Steve Basta said. “It’s not an accurate reflection of the progress we feel we’ve made over the past year.”

Results of an ongoing study of the vaccine’s effectiveness won’t be released until early next year, Basta said.