What a shocking day for the market yesterday as the volatility not seen for some months appears to be returning. Although the sector could not completely shrug off the trend of the wider market, it was good to see a number of biotechs post reasonable gains given the conditions.
PRR announced that it has been granted a patent from the Japanese Patent Office that protects methods used in the manufacture of CVac.
The method of use claims secured in the patent entitled “Use of mannose receptor-bearing antigen presenting cells for the manufacture of medicament for eliciting cytotoxic T cell response to antigen” extends PRR's intellectual property rights to another important market.
Winners and losers PGL produced the performance of the day, soaring 30% in tough market conditions. BRC finished the day up 8.70% while GID climbed 7.81%. BLT and VEI added 7.14% and 5.09% respectively on a day with little news flow.
Despite quite a few biotechs posting gains, IMU shed 20% and OBJ finished the day down 13.33%. CZN gave up 11.11% while the surprise of the day was the cashed up MSB, plummeting 9.19% on no news.
As mentioned by Twinvest yesterday, from next week on we will be running a biotech stock of the week. The plan is for followers to research the stock and post information (positive and negative) on the thread to allow for collaborative research on biotechs we no little about.
So for those with time over the weekend, here is the first Biotech stock of the week
CZD
Hopefully we all get a chance to have a look at CZD over the weekend/next week and have plenty to say on next weeks thread. Thanks to Tangentland for nominating the stock.
