The Day In Review: Adams Respiratory Therapeutics Guides Lower

March 16, 2007 -- Adams Respiratory fell 25% after reducing its revenue projections; Tongjitang Chinese Medicines priced its IPO at $10, a 38% reduction from the initial range; Hollis-Eden Pharma will not begin a clinical trial of anthrax drug Neumune without a government contract; Micromet out-licensed a cancer drug candidate to Tracon Pharma for up to $100 million; Endo Pharma and Vernalis reported the FDA will take an additional 3 months to review Frova for menstrual migraine; Exelixis submitted an investigational new drug application for a new oral anti-cancer compound; Roche returned all the assets of a HIV fusion inhibitor peptide program to Trimeris; and GlaxoSmithKline reported that adding Advair to COPD drug Spiriva did not help patients with COPD. The Centient Biotech 200™ slid 3 points lower to 3802, a loss of .09%. More details...