The Day In Review: Rigel Drops By 63% On Failed Allergy Test

December 1, 2005 -- Rigel Pharma took a major hit after announcing that its nasal spray drug, R112, failed a Phase II trial for allergies; Acadia Pharma moved higher after announcing that ACP-103, a schizophrenia drug, reduced the effects of restlessness; Wyeth received a $32 million contract to develop an AIDS vaccine; Dutch biotech Crucell bid $450 million for Berna Biotech, which makes vaccines; the FDA gave a thumbs down to a patch for hyperactivity disorder from Noven and Shire; Genentech signed a $25 million partnership with Lexicon Genentics; and Somaxon set the terms for its IPO. The Centient Biotech 200™ was substantially higher, gaining more than 49 points to close at 3975.64, a rise of 1.25%. More details...

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