The Day In Review: Novacea Sets Record IPO Terms

April 17, 2006 -- Novacea set the terms for its upcoming IPO, offering 6.25 million shares in a $11/$13 range, implying a $278 million value for the company; Cytokinetics will begin a Phase I/II trial of a cancer drug that it partners with GSK; Schering-Plough will move a small-molecule compound from its collaboration with Pharmacopeia into the clinic; Array BioPharma said Genentech will take a compound from their collaboration into a Phase I test; Invitrogen slipped lower after falling short of analysts revenue expectations; and Novavax received “Good Manufacturing Practices” validation for its recently renovated plant in Rockville, Maryland. Tomorrow, after the closing bell, Amgen will release its Q1 financial report. The Centient Biotech 200™ was down 17 points at 3801.11, a loss of .44%. More details...

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