August 23, 2005 With help from positive trial results from Amylin, biotech managed to squeeze out another small gain today. Amylin gained almost 28% on good Phase II data from the extended-release form of its diabetes drug, taking Alkermes, which contributed the delivery mechanism, along for the ride, Caraco won tentative approval for a generic version of Ambien, Cerexa announced its official launch with $50 million and a drug candidate, Isis raised $48 million in a secondary offering, and OXiGENE presented encouraging test results for its cancer drug. The Centient Biotech 200 was virtually unchanged, moving up just .65 of a point to close at 3746.91, a rise of .02%. More details...
