The Day In Review: Biotech Gives Back Some Recent Gains

June 21, 2005 -- On the first trading day of the summer, stocks traded with the kind of low volatility that is entirely seasonally appropriate. Broad market indexes were virtually flat, though biotech gave back some of its recent gains. The Centient Biotech 200 spent the entire day in negative territory, closing down almost 27 points at 3393.69, a loss of .78%. The S&P 500 was off .20%, but Nasdaq managed a marginal gain, moving up .14%. Clinical Data offered $56 million to buy Genaissance, GlaxoSmithKline partnered with the International AIDS Vaccine Initiative to develop an AIDS vaccine, Celgene won Priority Review status for the first indication for Revlimid, Lexicon Genetics will collaborate with Xoma to develop antibodies with weight gain the initial target, the FDA will put off for 60 days a ruling on a nutritional treatment for insulin resistance from Nutrition 21, Immune Response reported positive early data on an MS vaccine, and Hemosense lowered the price range for its IPO. More details...

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