It's about time. A month of rampant speculation fueled by a flurry of media reports citing unnamed sources finally culminated in Genzyme Corp.'s publicly acknowledged receipt of a $69-per-share buyout bid from Sanofi-Aventis SA, and the big biotech wasted no time rejecting the roughly $18.5 billion offer as too low. (BioWorld Today)
Shares of EpiCept Corp. plunged 38.3 percent Monday after the FDA refused to accept its new drug application for Ceplene (histamine dihydrochloride) in combination with interleukin-2 as a maintenance therapy for acute myeloid leukemia and, instead, recommended an additional pivotal trial. (BioWorld Today)
The late summer burst of IPO activity continued as sequencing specialist Pacific Biosciences Inc. took aim at the public markets, hoping to raise $200 million ahead of a planned 2011 commercial launch for third-generation sequencer PacBio RS. (BioWorld Today)
Alexza Pharmaceuticals Inc. is raising $18 million in a registered direct offering of stock and warrants, news that sent shares of the Mountain View, Calif.-based firm falling 18 percent Thursday. (BioWorld Today)
