Nasdaq Biotech Index Down As Cell Therapeutics Shares Plummet
The Nasdaq Biotech Index (NBI) was down again today losing 0.60% on a day that saw more reds than greens within biotech stocks.
Cell Therapeutics (CTIC) shares dropped more than 15% after the company announced that it offer additional shares on the market for $1.73 a share.
Shares of Imclone (IMCL) dropped more than 4% as the U.S. District Court in Manhattan ruled that scientists from Yeda Research and Development Co., which is affiliated with the Weizmann Institute, are the original inventors of technology used to develop Erbitux, Imclone's Colorectal Cancer Drug. The company intends to appeal the decision. Repligen (RGEN) and the Massachusetts Institute of Technology are also suing Imclone over other technological details behind the development of Erbitux.
The Nasdaq Biotech Index (NBI) was down again today losing 0.60% on a day that saw more reds than greens within biotech stocks.
Cell Therapeutics (CTIC) shares dropped more than 15% after the company announced that it offer additional shares on the market for $1.73 a share.
Shares of Imclone (IMCL) dropped more than 4% as the U.S. District Court in Manhattan ruled that scientists from Yeda Research and Development Co., which is affiliated with the Weizmann Institute, are the original inventors of technology used to develop Erbitux, Imclone's Colorectal Cancer Drug. The company intends to appeal the decision. Repligen (RGEN) and the Massachusetts Institute of Technology are also suing Imclone over other technological details behind the development of Erbitux.
posted by Nico at
7:28 PM
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