The Day In Review: Biotech Outpaces Market As A Whole

January 10, 2005 -- The Centient Biotech 200 outpaced the market as a whole on Monday, gaining almost .48% on the day. It closed at 3480.79, higher by 16.79 points. The NYSE Composite rose by .34%, and Nasdaq moved up .40%. Biotech finished higher on Monday, even though a sinking spell during the last two hours of trading threatened to put stocks into negative territory by the close, which has been the dominant pattern so far this year. In individual stock news, we talk about American Pharma's dramatic trading following Friday's FDA approval for Abraxane, Alnylam Pharma's promising preclinical results, and Dyax's good--though preliminary--Phase II numbers.