Sequenom down 7.5% on Xenomics’ power play
Well known biotech executives "face-off" in Licensing Deal gone awry Xenomics'(XNOM.PK) announced today that an ongoing internal preliminary investigation concluded that Sequenom (SQNM) willfully manipulated its Down Syndrome data in its presentations.In late October 2008 Xenomics granted an...
H1N1 Boosts Development in Pharma Sector
Global market growth for vaccines forecasted at 12% ( Edited version published in Genetic Engineering News Dec. 1, 2009) The potential H1N1pandemic has drawn renewed interest in vaccines. Vaccines over the last 100+ years have been one of the most important agents for controlling infectious...
Positioning for a possible year-end Biotech Rally
After a nasty October correction of 10%, biotech stocks are in a recovery mode and poised for a Q4 rally extending to early January. This trend was intact in the past (check ’05,’06, and ’07 trends) but was disrupted by the recent financial crisis of ‘08/09. A nice base has formed around the...
Biotech stock rally continues: mid caps up 2.5%
Biotech stocks continue to rally off the early November bottom despite bad news from Poniard (PARD) because of the picoplatin study failure. PARD was down 76% at 12:09p. The recent news of Sanofi-Aventis adding $800M in funding of Regeneron for monoclonal antibody therapeutics has bolstered the...
Biotech sell-off abating
The technicals in the biotech market are looking a lot better but the damage from October was severe. The 10% correction from the Sep 21, 2009 peak is about over as long as the NASDAQ holds up. The IBB is at 75 today off its high of 84. Good news from a number of companies have helped restore...