March 20, 2001 |
Corixa Corp. said it would cut its work force and take a charge against earnings after the Food and Drug Administration requested more data on an experimental drug that uses a cloned antibody to deliver radiation directly to cancer tumors. The request for additional safety and other data on Bexxar, considered the most important drug in the company's pipeline, adds at least a year to the timeline for approval, analysts said.
May 7, 1996
Companies with highest ratio of stock market value to sales. *--* 4/19/96 1995 Price/ Mkt. value Revenue sales Rank Company ($ millions) ($ millions) ratio 1 Pixar Animation Studios 785 12 66 2 Netscape Communications 4,305 78 52 3 ThermoLase Corp. 1,205 25 46 4 Xylan Corp. 2,539 30 46 5 Forte Software Inc. 867 23 38 6 Ascend Communications 6,367 150 37 7 Objective Sys. Integrator 1,273 36 37 8 San Francisco Co. 303 11 27 9 Atari Corp. 362 15 25 10 VISX Inc. 470 17 23 11 Protein Design Labs Inc.
September 20, 2002 |
British drug maker GlaxoSmithKline said Thursday that it settled litigation against Genentech Inc. that claimed its rival infringed patents covering monoclonal antibodies--cells grown in large fermentation tanks that can be programmed to attack disease. The companies did not disclose details of the confidential settlement, which ends two separate legal actions. As a result of the settlement, Glaxo dropped its appeal of a May 2001 jury verdict in favor of Genentech.
March 14, 2001 |
Shares of biotechnology companies, including Amgen Inc. (ticker symbol: AMGN) and IDEC Pharmaceuticals Corp. (IDPH), rebounded Tuesday after analysts issued positive ratings on the stocks, which have been beaten down amid the recent sell-off on Nasdaq. Amgen's shares rose $3.75 to $65.06, while IDEC was up $2.31 at $48, both on Nasdaq. The Nasdaq biotech index was up almost 5% for the day.
September 25, 1998
Genentech Inc. will likely report 1998 earnings of $1.30 a share, beating forecasts. South San Francisco-based Genentech, which is majority-owned by Roche Holding, reported 1997 earnings of $1.02 a share. Analysts had forecast profit of $1.28. Genentech Chief Financial Officer Louis Lavigne Jr. said profit will likely exceed forecasts, thanks to strong sales of Rituxan, a drug the company developed with Idec Pharmaceuticals Corp. and started selling in December 1997.