The Week In Review: Biotech Gives Some Back

August 13, 2006 – Biotech endured another disappointing 5-day stretch, dropping lower in all five sessions and giving back a large chunk of its gains from three weeks ago. The Centient Biotech 200™ fell a total of 83 points or 2.3% to end the week at 3584. Breadth was just as bad as you might expect and the negative numbers extend to the IPO market as well. Lipid Sciences was the big winner last week, rising on news of a small private placement; Third Wave Technologies climbed after it began testing two human papillomavirus products; Santarus and Caliper Life Sciences both moved up on improved Q2 financials; and Immunicon jumped after announcing a partnership with AstraZeneca to develop biomarkers for targeted therapies. More details...