Ebb & Flow

Despite an opinion by the Court of Appeal in the U.K. that opens the door for Transkaryotic Therapies (TKTX) to market its Dynepo gene activated erythropoietin in Europe, TKTX is not providing any guidance on a launch date. Perhaps the tight lips kept buyers away. The stock edged up $0.78 to $35.87 on the week after slipping $0.33 to $38.55 on 1.3 million shares on Wednesday's news.

"We are not prepared to make any projections" on the launch, said Michael Astrue, senior vice president of administration and general counsel. The product was approved by the U.K. in April to treat anemia related to renal disease in dialysis patients. Last week, the court unanimously reversed a lower court decision and found that activities relating to Dynepo for anemia do not infringe European Patent No. 0148605B2 held by Amgen (AMGN)...