TECHNOLOGY - June 15, 1995

COR Results Spark Biotech Stock Drop: South San Francisco-based COR Therapeutics Inc. announced disappointing trial results for its cardiovascular drug Integrelin. COR shares sank $8.50, or 45%, to $10.25 in Nasdaq trading, where it was among the most active issues. Wall Street had been hoping the trials would yield findings that would restore investor confidence in the biotechnology group, which has suffered from product delays over the past year. But COR said the preliminary results of a 4,010-patient trial did not achieve conventional statistical significance. The data confirms that the drug is a safe treatment for angioplasty complications but that it “was not as robust on the efficacy side,” Chief Executive Vaughn Kailian said. Analysts were disappointed with the results, but said the stock market may have overreacted.