The Day In Review: Icahn Takes Over As ImClone Systems Incorporated Chairman

October 25, 2006 -- ImClone appointed Carl Icahn as Chairman, ending his proxy battle for control of the company; Cadence completed its IPO, placing 6 million shares at $9; Forbes MediTech will buy TheraPei, a company spun out from Sequenom; Forest Labs cited safety reasons for putting a hold on new patients in a trial of a stroke drug; Crucell began a Phase I test of its tuberculosis vaccine; Titan Pharma will begin a Phase III trial of Probuphine, an opioid dependence drug; Auxilium presented positive data from trials of a drug that treats Peyronie’s Disease; EntreMed will begin a Phase I/II trial of a drug for non-small cell lung cancer; and Tanox began dosing patients in a Phase I trial of an asthma drug. The Centient Biotech 200™ rose 8 points to 3965, a climb of .20%. More details...