July 21, 2005 -- In a trading day that saw most indexes close substantially lower, biotech managed to keep almost all of its spectacular gains from yesterday. The Centient Biotech 200 was off less than 2 points at 3743.15, a loss of just .04%. Adams Respiratory held the most successful IPO of 2005 rising more than 50% on its first day, MGI Pharma offered $177.5 million to buy Guilford Pharma, Dendreon reported positive survival benefits for its prostate cancer vaccine, the FDA put a hold on a Phase II trial of an ALS drug from CytRx, and Parexel will buy a small South African Phase I and II trial facility. More details...
