January 24, 2006 – ImClone will seek “strategic alternatives” for the company; Biovest said its cancer vaccine kept 89% of recipients alive at the 3.8 year mark; Serono slumped 9.4% lower on fading hopes for a buyout; Curis took a major hit after its therapy for basal cell carcinoma did not produce much clinical activity; Johnson and Johnson met its earnings target, but missed the expected revenue number; Chiron received marketing approval in Europe for an IV antibiotic; Accordia set the terms of its IPO; and a diet drug from GlaxoSmithKline was recommended by an FDA advisory panel. For all practical purposes, biotech ended the day flat. Technically, the Centient Biotech 200™ eked out a gain of a fraction of a point, closing at 3952.89, a rise of .02%. More details...
