March 4, 2007 – What a difference a week can make. Without doubt, last week was devastating for biotech. The Centient Biotech 200™ fell 232 points to 3822, a loss of 5.7% over the five sessions. Breadth was crushingly negative. Only the IPO market offered a ray of hope, with Rosetta rising 40% after its IPO. Tiny Epicept, with a 15 cent gain, led the winners list with a 9.9% increase. Threshold lost 60% after glufosfamide failed a Phase II clinical trial; Avanir fell 33% when the FDA required a new trial for Zenvia. But it was the list of 73 biotechs that declined between 10% and 30% that hurt the CBT 200™ the most. At least the loss in biotech was in line with the drop in the broad market. More details...
