The Week In Review: Biotech In Positive Territory For 2007
4/9/2007 3:08:27 PM
April 8, 2007 -- Biotech had a very positive week. Over the four sessions, the Centient Biotech 200™ rose 116 points to 3995, a 3% climb. That puts biotech back in the black for 2007 with a gain of 1.8% since the first of the year. Breadth was very solid, even when measured against a 3% rise in the index. Simcere, a Chinese maker of generic drugs for its home market, set terms for its IPO. Corcept led the list of biotech companies higher with a gain of 55% after it raised new cash; Bioveris also booked a 55% rise on a buyout offer; Dendreon continued to climb on the FDA recommendation for Provenge; Encysive received permission to market Thelin in Ireland, and Antigenics rose after Dendreon increased the prospects for cancer immunotherapies. More details...