The Week In Review: Biotech Slips Back

September 10, 2006 – Last week, in a holiday-shortened stretch, the Centient Biotech 200™ fell 68 points, closing at 3707.76, for a loss of 1.8% on decidedly negative breadth. In the IPO sector, there was much higher news activity though no actual IPOs. Warner Chilcott will seek to raise $1.27 billion while Rosetta Genomics aims to bring in $36 million, ImaRX is looking for $55 million; and Light Sciences Oncology would like to raise $75 million. Exact Sciences rose in advance of a review of its colon cancer test; Cyclacel traded higher after making a investor presentation; Impax Labs won a patent lawsuit; Cortex will present scientific data on its Ampakine compound; Genta fell when an FDA advisory committee refused to recommend Genasense; and Adolor was down after its lead drug failed to help patients with opioid-induced constipation. More details...