But Peter Drake, a biotechnology analyst at Vector Securities, said the approval would make only a small difference in sales of the drug.

Of the roughly 350 publicly traded biotechnology companies, only eight are profitable based on sales of drugs, according to Vector Securities.

Vector Securities says 30 biotechnology products could receive approval this year.

One analyst, Peter Drake at Vector Securities, said he thought the stock would be fairly valued at $107 a share.

"We believe the point-of-care blood gas chemistry market will ultimately be a big business," said Ms. Winslow of Vector Securities.

Mr. Drake of Vector Securities estimates that the product will have sales of $65 million annually by 1992.

Vector Securities International Inc.

"The unappreciated gem of the drug delivery area," an analysis by Vector Securities said early this year.

Vector Securities.

Vector Securities International.