The AMEX Biotechnology Index has strong support at the 200 day moving average of 770.

Targanta Therapeutics
Proposed symbol TARG
IPO date not yet announced


Targanta Therapeutics is a biopharmaceutical company is developing new treatments for severe, drug-resistant bacterial infections, including those that attack the skin, blood, and bone. Its lead candidate is oritavancin, which may treat both skin and blood infections; the drug was first discovered by Eli Lilly and further developed by InterMune, from whom Targanta acquired the rights in 2005. The company plans to develop other antibiotics in addition to oritavancin; it is working on one earlier-stage candidate that may fight osteomyelitis, an inflammation of the bone caused by infection.

ImaRx
Proposed symbol IMRX
IPO date not yet announced

ImaRx is a biopharmaceutical company which specializes in developing therapies for vascular disorders, particularly those relating to blood clots. Its SonoLysis therapy uses tiny ultrasound-activated bubbles to penetrate a blood clot and break it up; the company is developing SonoLysis as a stand-alone therapy and in combination with clot-busting drugs. The company has licensing deals with UNEMED and Bristol Myers Squibb for some of the technologies undergirding SonoLyse. ImaRx acquired FDA-approved Abbokinase, which dissolves blood clots in the lungs, from Abbott Laboratories in 2006.