NovaCardia Inc., which has a Phase III product for congestive heart failure, is being acquired by Merck & Co. Inc. for $350 million in stock. (BioWorld Today)

Shares of GPC Biotech Inc., partner Pharmion Corp., and licensee Spectrum Pharmaceuticals Inc. continued to sink Tuesday as an FDA advisory panel debated the merits of satraplatin for second-line, hormone-refractory prostate cancer, in a closely watched case that had investors nervous because of briefing papers posted last week on the agency's website. (BioWorld Today)