The Week In Review: A Small Gain Is Still A Gain

September 17, 2006 -- Biotech put together a modestly positive week, with the Centient Biotech 200™ rising a net 27 points to close on Friday afternoon at 3734.86, a gain of .73%. The gain was surprising because biotech had to overcome the significant Genentech setback of the last week. Although the CBT 200™ is lower by 5.5% year-to-date, the index has risen 217 points or 6.2% from its lows of eight weeks ago. Breadth was ever so slightly positive last week. The IPO market will rise out of its late-summer doldrums next week, with a blockbuster offering from Warner Chilcott leading the way. Threshold bounced off a low set in mid-July; Genta rebounded on positive results for Genasense as a melanoma therapy; Cell Therapeutics climbed after a judge dismissed a lawsuit from a disgruntled shareholder; Auxilium got a nice bump after raising $43.3 million; and Curis will form a Chinese subsidiary to do research in a more cost-effective way. More details...