12:00 AM
Mar 04, 2002
 |  BioCentury  |  Finance

No news is buying news

Investors chose to take a rosy view of ImClone Systems Inc.'s meeting with the FDA last week, pushing the stock up 74%.

The stock gained $11.58 to $27.28 on 57.4 million shares traded over the week, even though virtually no information was forthcoming from the meeting to discuss what needs to be done in order to make the BLA fileable for IMCL's Erbitux monoclonal antibody to treat colorectal cancer.

IMCL said it discussed a plan to provide the FDA with...

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