January 14, 2007 -- Biotech made it two-for-two last week, rising higher for the second week in a row. The Centient Biotech 200™ climbed 89 points to 4078, a gain of 2.2%. Added to the 66 point increase of the week before, biotech is up almost 4% after the first two weeks of the year. Breadth was extremely strong, even more positive that a 2.2% gain would imply. Next week, Oculus is scheduled to be the first biotech IPO of the new year; CytRx led biotech higher last week after signing a RNAi licensing deal with U Mass medical school; Telik bounced off lows established when its cancer drug failed Phase III trials; Seattle Genetics partnered with Genentech on an anti-cancer antibody; Immunomedics moved higher without releasing news; and Genomic Health climbed after United Health decided to cover the costs for a breast cancer test that Genomic makes. More details...
