HERE WE are peeking out from the bunker and all we see is biowreckage. The AMEX Biotechnology Index is down about 30% since the beginning of the year and last year’s high-flying genomic stocks are lying there smoldering with the likes of Amgen and Immunex. What’s a CEO to do?

Well, for one, don’t despair. In this case, what looks broken does not need repair. The entire market has gotten crushed and young genomics companies could do very little to avoid getting taken down with the rest of the market.

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