Experimental cancer drug results sends biotech companies' stocks soaring

3rd Nov 2005, 23:52 GMT

SAN FRANCISCO (AP) - Two California biotechnology companies, including titan Amgen Inc., said Thursday an experimental drug they are codeveloping to combat colon cancer worked better than expected during a large human trial. The announcement sent the stock prices of Amgen and its partner Abgenix Inc. soaring while shares of rival drug-maker ImClone Systems Inc. sagged.