May 23, 2005 -- In a late-session surge, stocks kicked off the new week with a broadly based upward move, though prices backed off from session highs. The Centient Biotech 200 was 18 points higher at 3344.58, a rise of .53%. The S&P 500 gained .39% and Nasdaq climbed .50%. Able continued to implode, ceasing all manufacturing operations until further notice, Geron won FDA clearance to begin clinical tests of a leukemia drug, NexMed said its cream for female sexual arousal disorder passed a clinical trial, CytRx filed an investigational new drug application for a Lou Gehrigs disease treatment, CoTherix reported good data from a long term test of Ventavis, BioXell signed a $150 million deal with Merck, Actelion will suspend work on a diabetes drug after it failed a Phase II trial, Epix has answered questions posed by the FDA about its MRI contrasting agent, and IPO standout New River Pharma announced positive results from a test of its ADHD drug. More details
