Shares of Affymax Inc. fluctuated wildly Wednesday after an analyst predicted success for the company's drug candidate Hematide as a treatment for anemia caused by kidney disease.

In a June 26 story on drug maker Amgen, The Associated Press reported that a doctor who ran trials on the Amgen drug denosumab believes an issue with infections could keep the drug from being approved by regulators.

Amgen's experimental osteoporosis drug denosumab could have difficulty gaining Food and Drug Administration approval in its initial try, due to a higher incidence of infections compared with placebo seen in some patients, according to an osteoporosis doctor who conducted clinical trials for Amgen.

GM's shares  have plummeted to less than $12, the lowest level since 1955. That means the  world's largest auto maker has a stock market value of only about $7 billion.

Clinical developments and sales outlooks boosted shares of Vertex Pharmaceuticals and Gilead Sciences Inc. during the quarter, placing them among the top gainers in the biotechnology sector during the second quarter.

Large-cap biotech stocks are better positioned to bring investors returns during the second half of 2008 due to revenue gains and development deals, J.P. Morgan analysts said Tuesday.

The Standard & Poor's 500 Index ended Thursday's shortened session nearly unchanged, with Ecolab Inc. taking the biggest gain.

The Nasdaq 100 index rose slightly in an abbreviated trading session Thursday as Wall Street weighed record-high crude oil prices and reports showing a drop in the service sector, but an unchanged unemployment rate.

Shares of biotechnology companies closed lower with the broader market Wednesday as oil prices hit a new record and May factory orders showed the weakest performance in three months.

Shares of biotechnology companies opened mixed Thursday as the broader market rose after the Labor Department reported that the nation's unemployment rate held steady at 5.5 percent last month, easing concerns over a worsening job losses.

Stocks closed lower Monday, snapping last week's rally, amid a fresh wave of financial worries and inflation concerns. General Motors rose.

An experimental osteoporosis drug that is considered to be crucial to the future of biotechnology giant Amgen strengthened bones more than today's most widely-used treatment, research showed.

Stocks finished near session lows as oil prices soared and a measure of wholesale inflation surged, sparking worries that the Federal Reserve will start focusing on rising prices rather than slowing growth.

Stocks tumbled Tuesday as oil prices blew past $129 a barrel and a measure of wholesale inflation surged, sparking worries that the Federal Reserve will start focusing on rising prices rather than slowing growth.

Amgen Inc., the world's largest biotechnology company, reported earnings of $1.12 per share on first-quarter revenues of $3.6 billion on Thursday, beating most Wall Street expectations on cost-cutting measures.