June 20, 2005 Biotech traded higher all day, building on the gains of last week. The increase may have been modest, but it was real enough, and it had the added virtue of being achieved in the face of a broad market that was slightly negative. The Centient Biotech 200 gained 12.5 points to close at 3420.43, a rise of .36%. MedImmune signed a deal with Avalon Pharma, CytRx has finished its IND for an ALS drug, Transkaryotic released positive Phase III trial data for a Hunter Syndrome treatment, CV Therapeutics must wait an additional 90 days for an FDA ruling on its ACE inhibitor, BioCyst won fast-track for Fodoxine, Diversa will expand its collaboration with Merck, Adventrx announced good data against solid tumor cancer, Glaxo signed a $175 million deal with Viatae Pharma, Maxygen will downsize its operations, and Cornerstone won approval for its acetaminophen drug. More details...
