The Day In Review: Biotech Gives Back Some Of Monday’s Gain

March 15, 2005 -- After starting off the day higher, market indexes fell as the session progressed, closing at their lows. Unfortunately, biotech followed suit. Given yesterday’s dramatic 117 point run-up, biotech investors may have hoped for more gains, but they got consolidation instead. The Centient Biotech 200 moved lower by 43.78 points to 3213.24, a 1.34% drop. We discuss the aftermath of the important announcement from Genentech, a continued rise for Protein Design, accelerated approval for a flu vaccine from ID Biomedical, a milestone payment for recent IPO Icagen, an important diabetes collaboration for ViaCell, orphan drug designation for Genta, good earnings for Ivax, and alarming news from Novovax. More detail...