By Ted Griffith
CBS.MarketWatch.com
Sept. 16, 2003
BOSTON (CBS.MW) -- Isis Pharmaceuticals' stock was an upside standout in
an otherwise mixed biotechnology sector early Tuesday after the company said
its experimental diabetes treatment produced promising results in early-stage
testing.
Isis (ISIS: news, chart, profile) shares jumped 37 cents, or 5 percent, to
$37.50 in early dealings. The company said its diabetes compound showed
promise in an early-stage, or Phase I, clinical trial. However, the company
would need to demonstrate that its drug was safe and effective in more
extensive clinical testing before Isis could even apply for regulatory
clearance to market the drug.
The Amex Biotechnology Index (BTK: news, chart, profile) slipped 0.1
percent while the Nasdaq Biotechnology Index (NBI: news, chart, profile) added
0.3 percent.
Ted Griffith is a reporter for CBS.MarketWatch.com
