April 4, 2005 Stock prices rose on Monday, climbing off multi-month lows for the Nasdaq, but the late market rise wasn’t enough for biotech, which climbed up from its early low prints, but still closed down, establishing a new 52-week closing low. The Centient Biotech 200 was off almost 25 points at 3045.68, a decline of .81%. The NYSE Composite eked out a .02% gain and Nasdaq climbed .32%. In individual company news, Pfizer will make a presentation to analysts tomorrow, detailing cost cuts and the development pipeline, Immune Response said the auditors placed doubt on the ability of the company to continue doing business, aaiPharma said it would probably need to seek bankruptcy protection, Manhattan Pharma bought Tarpan Therapeutics, a privately held company, acquiring a clinical-stage drug in the process, Curis and Genentech signed a second collaboration, and Cerus was a big percentage gainer on the day. More details...
