Theragenics Shares Fall 36% on Report Criticizing Outlook
Shares of Theragenics Corp. plunged 36% Thursday after an analyst raised doubts about prospects for the maker of medical radiological devices.</br></br>Theragenics executives, as well as other analysts, disputed the analyst's position. Nevertheless, Theragenics shares fell in Nasdaq Stock Market trading to close at $14.813, down $8.188.</br></br>The selloff began after analyst Parice C. Halbert of Dain Rauscher Inc. in Minneapolis, cut earnings estimates for Theragenics and two other companies involved in brachytherapy.</br></br>In that technique, radiological "seeds" are implanted in cancerous tumors, allowing patients to be given much higher doses of radiation than in traditional treatments. The treatment is most often used for prostate cancer.</br></br>Shares of the other companies mentioned, Mentor Corp. and North American Scientific, also fell in Nasdaq trading yesterday. Mentor closed at $22.75, down $1.375, or 5.7%. North American fell 25% to $14.25, down $4.75.