June 1, 2005 With investors hopeful that the Federal Reserve would soon end its interest rate hikes, Wall Street kicked off June trading by continuing the May rally. The Centient Biotech 200 was almost 32 points higher at 3395.12, a .95% rise. Affymetrix bought a rival for $120 million in stock, cementing its hegemony in microarrays, Parexel will take a $30 million charge, mostly to break leases, Amgen won an FDA OK to expand the Enbrel label, Peregrine touted an article showing the effectiveness of Cotara against brain cancer, Hybridon signed a deal with Novartis, BioMarin won FDA approval of Naglazyme for a rare genetic disorder, GlycoGenesys won a patent for pectins to control angiogenesis, and Cel-Sci won a patent for its cancer drug MultiKine. More details...
