June 7, 2005 The words of Fed Chairman Greenspan spread a feel-good balm over early trading in stocks, sending them markedly higher. But the gains didn’t hold, as investors decided there wasn’t enough in his comments to warrant optimism. By the close, the Centient Biotech 200 was 15 points lower, ending at 3313.11, a .45% slide. The S&P 500 was almost flat at a negative .02%, and Nasdaq was lower by .41%. Cell Genesys will restructure to focus on its most marketable drug candidates, the FDA has accepted the final marketing application for Revlimid from Celgene, Chiron received an evenly split decision from the FDA advisory panel over the efficacy of Pulminiq, Critical Therapeutics did a $54.5 million private placement with a unique structure, Somaxon raised $65 million in a Series C round, and Endo won its patent dispute, allowing the company to market a generic form of OxyContin. More details...
