The Day In Review: Gene Logic Inc. Takes A Hit

April 21, 2006 -- Gene Logic will seek to find new disease targets for compounds that Organon has abandoned; the company also dropped 26% on a larger Q1 loss; Skye Pharma and Endo Pharma will stop any futher development of their injectable anesthetic; Omrix staged its IPO, pricing 3.4 million shares at $10 apiece, a 60% decline from its estimated range; Shire said that renal disease patients could take a new, higher dose of oral Fosrenol; Theravance reported GlaxoSmithKline enrolled the first asthma patient in a Phase IIb trial; Inhibitex cut its workforce almost in half following a failure of its lead product, Veronate, earlier this month; and GTx Inc. will extend its Phase III trial of prostate cancer drug for an additional year, seeking to collect additional safety and efficacy data. Today, the Centient Biotech 200™ was lower by 27 points at 3799.99, a decline of .70%. More details...

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