As if implications of the Enron Corp. situation hadn't already messed things up enough for biotechnology (and just about every other sector that uses balance sheets and ledgers), another spawn of the scandal has reared its head for industry leaders to fear and loathe. (BioWorld Financial Watch)

Cellegy Pharmaceuticals Inc.’s stock tumbled more than 50 percent on news that the company is withdrawing the new drug application for Cellegesic, its nitroglycerin ointment for the treatment of pain from anal fissures. (BioWorld Today)

Saying it wants a more robust data package for the FDA-stalled cancer drug cetuximab, Merck KGaA is delaying until the first half of next year the European regulatory filing, but now aims to include colorectal data as well as the originally planned head and neck cancer study results. (BioWorld Today)

Multiple sclerosis - as many of those afflicted know all too well - is characterized in extreme forms by tissue-hardening paralysis, during its often-painful march through the brains and spinal cords of victims. But the competitive arena for MS treatments has been anything but frozen in place, especially lately. (BioWorld Financial Watch)

Pharmacyclics Inc. is planning a new Phase III trial of its cancer cell disrupter, Xcytrin, in the sector of patients for whom the drug seems to do the most good those with lung cancer that has metastasized to the brain. (BioWorld Today)

You don't hear the term "overnight sensation" much in biotechnology (in fact, you don't hear it much at all, now that variety show host Ed Sullivan is gone), but the tag seems just right for Alkermes Inc. even if those who know him might have difficulty imagining CEO Richard Pops onstage with a microphone, belting out tunes. (BioWorld Financial Watch)