May 25, 2005 Stocks traded lower all day on Wednesday, with biotech following suit. A loss is a fairly rare event for biotech lately, with the Centient Biotech 200 having scored gains in 6 out of the previous 7 sessions. Today, however, it was almost 20 points lower at 3339.38, a drop of .59%. The S&P 500 was off .34%, and Nasdaq lost .56%. Alcon slipped lower despite an approvable letter for Retaane, GenVec got the go-ahead to resume trials of its cancer drug, Encysive has finished applying for FDA marketing approval of Thelin, Barrier got a not approvable letter for Zimycam, Serono added a warning lable to Novantrone, and Neurocrine released positive data for its sedative. More details...
