As Old Economy stocks tanked on the Big Board last week, Celera (CRA) demonstrated the new muscle of the biotech space in the New Economy. Stock of the genomics play split 2-1 before the week's trading opened on Tuesday and closed Friday at $250.875, up $92.969 (59 percent) on the week. Pre-split, the stock had most recently eclipsed the $250 barrier on Feb. 15. CRA still has outstanding a follow-on offering, 1.615 million shares not accounting for the split, announced when the split-adjusted price was $101.

Indeed, the sector shrugged off a brief bit of selling on Tuesday to add another 7 percent to the BioCentury 100 index on the week, pulled in another $1.4 billion in financing, and filed equity and debt offerings for $1.2 billion more.