November 12, 2006 -- Biotech put together a small gain during the past week, overcoming a 2% loss on Thursday when investors worried that a Democratic-controlled Congress might try to lower drug prices. Nevertheless, the Centient Biotech 200™ climbed 23 points over the week to end at 3955, a rise of .58%. Of the five top percentage gainers in the biotech sector over the past three weeks, three (Kos, Connetics and Tanox) were takeovers. Poniard gained 44% the old fashioned way, rising on positive interim results in a lung cancer trial, and Targeted Genetics climbed 100% after Biogen Idec was willing to pay a 150% premium for 1 million shares. The IPO sector remains active, with Hansen and Emergent Biosystems scheduled to debut in the next week. More details...
