The Week In Review: The Biotech Bounce
10/19/2005 5:13:15 PM
April 10, 2005 -- For most of the past week, the bounce has been the story. After hitting a 52-week low on Monday, the Centient Biotech 200 put in four straight winning sessions, rising a net 107 points over the five days to 3045.68, a 3.5% gain. The NYSE Composite was up .63%, and Nasdaq climbed .73%. For the year, the CBT 200 is down 11.2%. Currently, the index stands 15.5% below its highs of almost a year ago, and it closed Friday 4.3% higher than the closing low set this week Monday. EntreMed was the big winner of the week, announcing good clinical news, and CancerVax was the big loser, the beneficiary of bad clinical results. Pfizer dominated the news last week. Given its $28 billion of repatriated profits, it will continue to make news. Plus the company has the financial wherewithal to... Well, we speculate a little. More details...