NEW YORK: equities started the reporting week to February 11 with a more than 2.9% fall, as US recession fears were flamed by a weak service sector activity index as well as manufacturing data. Although further movements in the Dow Jones were much more tempered, even ending with a small 0.5% rise on the last day helped by the oil sector on rising prices of crude, the index ended 3.1% lower overall. With mixed fourth-quarter and full-year 2007 results coming from the pharmaceutical and biotechnology companies, these were mostly lower, with 35 of those tracked falling and just four seeing a rise.
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A clinical-stage US biotechnology company developing precisely targeted small molecule kinase inhibitors for cancer, with lead programs in ROS1- and ALK-positive non-small cell lung cancer.
Stock Commentary - New York week to Feb 11, 2008
NEW YORK: equities started the reporting week to February 11 with a more than 2.9% fall, as US recession fears were flamed by a weak service sector activity index as well as manufacturing data. Although further movements in the Dow Jones were much more tempered, even ending with a small 0.5% rise on the last day helped by the oil sector on rising prices of crude, the index ended 3.1% lower overall. With mixed fourth-quarter and full-year 2007 results coming from the pharmaceutical and biotechnology companies, these were mostly lower, with 35 of those tracked falling and just four seeing a rise.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
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