The IBB hit another new high today at $118.85 as the biotech bull market rolls on.
Our index of biopharmaceutical stocks were up 4% at one time propelled by Medivation (MDVN $67.67) up 22% on favorable clinical news on its prostate cancer drug. A WSJ story helped move the stock. Medivation has no revenue and a partnership with Japanese Pharmaceutical Company Astellas.
The Rayno Life Science Portfolio is up 1.8% today led by Amgen (AMGN), ASTEX (ASTX), Biogen (BIIB), Dendreon (DNDN) and Exelixis (EXEL).