The stock market posted mixed results on Friday morning, as investors continued to wrestle with countervailing factors in making their investment decisions. As of 11:45 a.m. EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was trailing other major benchmarks, falling about a quarter percent.
The biotech industry is well represented on the Nasdaq, and it can be a high-risk, high-reward industry for investors. Good news can send a biotech stock soaring, while disappointment can crush share prices. Today, the Nasdaq provided two great examples of how that can play out, as ChemoCentryx (NASDAQ: CCXI) and Allogene Therapeutics (NASDAQ: ALLO) revealed both sides of the coin. Below, we'll look more closely at what happened with these two stocks.
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ChemoCentryx, Allogene Show the Risks and Rewards of Nasdaq Biotech Stocks