The investor thrill that cutbacks last spring failed to provide for Avant Immunotherapeutics Inc. came in spades with news of the company's merger with Celldex Therapeutics Inc., and the all-stock deal creates a new firm worth about $115 million, (based on Avant's closing price Oct. 19), giving privately held Celldex about 58 percent ownership of the new company. (BioWorld Today)

As a therapeutic indication, rheumatoid arthritis gets more love from investors, but another painful joint disorder has come to the fore as well, and Savient Pharmaceuticals Inc. is the company they talk about when they talk about gout. (BioWorld Financial Watch)