May 4, 2005 Stocks kept bidding prices higher during Wednesday’s session, finishing with significant across-the-board gains. For biotech, it was the fourth day in a row that saw prices move higher. The Centient Biotech 200 rose almost 34 points to 3259.17, a 1.34% climb. The S&P 500 gained 1.25% and Nasdaq was up by 1.51%. Genzyme offered $600 million in cash to buy Bone Care International; Renovis and AstraZeneca reported good, though conflicting, data about their stroke drug; Curis and Genentech will move a topical treatment for basal cell carcinoma into the clinic; the cancer drug from Bayer and Onyx qualifies for a rolling submission of data to support FDA approval; and the Cleveland Clinic will back away from the cardiovascular drug Natrecor, produced by Johnson & Johnson. More details...
