June 29, 2005 Biotech elected not to add to the gains of yesterday, despite falling oil prices and a generally benign news background. The Centient Biotech 200 was off by almost 24 points at 3375.76, a drop of .69%. The S&P 500 was down by .14%, while Nasdaq was almost flat, trading just .05% lower. Conforma licensed a lung cancer drug, Amrubicin HCI, from Sumitomo in Japan, MannKind began Phase III testing of an inhaled form of insulin, Fabre-Kramer said Gepirone ER did well in Phase III tests among moderately depressed patients, CV Therapeutics will raise $290 million by floating new stock and debt, StemCells was added to the Russell 3000, Schering-Plough is seeking a once-daily regimen for Nasonex against nasal polyps, Millennium gained after replacing its original CEO (and founder) with a Novartis exec. More details...
