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July 8th, 2004
From Flameout to Bargain
The stock of biopharmaceutical and Merrill Lynch (NYSE: MER) Nanotech Index (AMEX: NNZ) member Flamel Technologies (Nasdaq: FLML) has declined more than 50% since hitting a $43.60 all-time high in September. The stock, down 11% today on no discernible news, is not matching the 20% increase, since May, of its index peers. Although the recent stock flameout might be an indication of trouble, a closer look reveals a lot to like.
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