Good news boosted many biotech stocks today as the XOMA clinical trial failure of yet another diabetes drug did not scare away investors. Although the major ETF’s were barely up, there were a lot of individual stock winners. Within the Rayno Life Science Portfolio there were winners:
Exelixis(EXEL) up 1%, Gilead (GILD) up 2.18%, MicroMet (MITI) up 4.77%, Optimer (OPTR) up 1.6%, SuperGen (SUPG) up 1.5%.
Nevertheless the caution signal is still on as we are out of the speculative season in small cap biotechs. Our mid-cap biotech index was flat today.