January 7, 2007 -- Here is a recipe for a positive week in biotech: confine the trading to just three days, have one big up day, and bracket that gain with minor losses. Doing that, the Centient Biotech 200™ rose 66 points or 1.7%, closing at 3989, the highest weekly close in almost two months. Unfortunately, breadth was not particularly strong. Three biotechs migrate from the list of Recent Biotech IPOs into the CBT 200™, and Oculus is scheduled to made a debut first in the week of January 15. Memory was a strong performer last week, as it starts a Phase II trial of its Alzheimer’s drug; StemCells gained along with the rest of the stem cell sector; AtheroGenix climbed on speculation that news on a heart failure drug is imminent; and medical diagnostic maker Biosite moved up 13%. The big news next week will be the the 25th annual JP Morgan Healthcare conference. More details...
