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Medical manufacturers rally to
meet demand

Amcalon dealt blow by FDA

Food giant collapses amid
tainted baby food scandal

Opportunities As New
Markets Open For A Post Mortosis World.

Market Indices

ImClonex Systems (nasdaq: $25.23
IMCLX) Amcalon (nasdaq: AMCN) $84.27 

NASDAQ 26 19
Amex 2 2
NYSE 26 5

NIKKEI 13,549.23 -234.22 -1.70%
HANG SENG 24,808.02 -306.96 -1.22%

OIL - 0.71 0.78% = $90.13
10YR 30/32 105 4/32 = Yield: 3.62%

Amcalon delt blow by FDA

Posted: Sept. 13th, 2007 Bookmark and Share

Related report:
New drug hope
Stem cell ban
Stem cell hope

Biotech and pharmaceutical stocks were mixed on Wall Street late Thursday, ending an unpredictable week for the sector.

Shares of drugmaker Amcalon Corporation (nasdaq: AMCN) fell sharply today after the FDA. released a statement saying that the long anticipated drug XL6 (experimental mortosis inhibitor) had been denied access to use three out of the seven requested stem cells needed to further research and development.

The inhibitor XL6 first came to light following a paper released to the Scientific and Medical Journal back in February. In it they describe a breakthrough in decelerating the onset of Necro-mortosis.

Shares of Amcalon were down 5.8%, or $7.25, to $92.29.

ImClonex Systems (nasdaq: IMCLX), which rallied Wednesday on good news from its Phase III trial for Mortosis vaccination drug Ibrex, gave back some its gains Thursday, and was down off $2.72, or 3.4%, to $35.18.


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