The Day In Review: More Gains For Biotech

January 27, 2005 -- For the third day in a row, biotech moved higher, with the Centient Biotech 200 gaining 20.81 points to close at 3343.55, a rise of .63%. Once again, it was a heavy day for earnings announcements from biotech companies, with most reports being fairly positive, which may account for the relative strength of biotech today. One of our favorite biotechs, Affymetrix, rose 14% after reporting strong earnings yesterday, Sonus recieved orphan drug designation for Tocosol, OSI (together with Genentech and Roche) reported that Tarceva proved effective against pancreatic cancer, and Genencor climbed 23% on news of a buy-out offer.