The Week In Review: Biotech Treks Higher
2/5/2007 2:41:32 PM
February 4, 2007 -- Biotech moved back to the upside during the last week, gaining back half the ground it lost in the previous week. The CBT 200™ rose a net 44 points to end at 4067, a gain of 1.1%. Breadth was in line with the advance, and the IPO market continues to show strength. The Molecular Insight IPO was respectable, and three biotech IPOs are scheduled for next week. On the CBT 200™, the winner was Nymox, which moved 47% higher on positive news on its BPH drug; Seattle Genetics continued to gain as its deal with Genentech gave the company credibility; Sangamo is scheduled to report its financials next week; Lexicon Genetics gained after announcing it would move an Alzheimer’s drug from Phase Ia to Phase Ib; and, finally, Bioveris was up 20% following its vaccine deal with Baxter. More details...