The Day In Review: Biotech Starts Week With A Small Loss

June 27, 2005 After trading close to flat for most of the day, biotech slid slightly lower in late trading, kicking off the new week with a loss. Overall, trading was light and the price action calm. At the close, the Centient Biotech 200 was off 13 points at 3348.53, a decline of .39%. Myogen will stop developing enoximone after the drug failed a Phase III trial, Metabasis signed a second deal with Merck to develop a diabetes drug, a Theravance inhaled bronchodilator performed well in a Phase II trial, Pfizer sold its German generic drug business to an Indian drug maker, and Genaera settled on a Special Protocol Assessment with the FDA for Evizon. More details...