ICOS drug labeled cool invention

Time magazine has named Bothell-based ICOS Corp.’s erectile dysfunction drug one of the “Coolest Inventions” of 2003. The list, contained in the Nov. 17 edition, cites the advantages of Cialis over Viagra, including its effectiveness in helping men have sex up to 36 hours after taking it, versus about four hours for Pfizer Inc.’s Viagra. The pill, which is being made jointly by ICOS and Eli Lilly &Co., has been available in Europe and other parts of the world since February. It is expected to be approved by the Food and Drug Administration for use here before the end of the year.

Eden Bioscience Corp.’s stock price escalated nearly 28 percent Monday after a reported large purchase of shares fueled investors’ speculation about possible good news in the company’s near future. The stock closed at $1.75 a share, up 38 cents from Friday. During the day, more than 900,000 shares in the Bothell-based biotechnology firm were traded, compared to an average volume of less than 68,000. Rhett Atkins, Eden’s chief executive officer, said despite his personal optimism about the company, he didn’t know of any other events that would explain the sudden stock rise. Eden makes crop and plant health enhancers.

Neighbors of the StockPot soup factory south of Maltby say the reek is back. StockPot, a Campbell’s Soup Co. subsidiary, has paid $18,000 in fines because of the odors, traced mainly to production of onion soup, and installed equipment to spray an odor-reducing enzyme into the exhaust system, officials said. That seemed to work. StockPot president Kathleen Horner blamed stagnant weather conditions for the recent complaints. Air pollution officials plan to meet with company officials soon.

The Treasury Department sold three-month bills at a discount rate of 0.935 percent, down from 0.94 percent last week. Six-month bills at a rate of 1.04 percent, up from 1.025 percent. The new discount rates understate the actual return to investors – 0.951 percent for three-month bills with a $10,000 bill selling for $9,976.40, and 1.063 percent for a six-month bill selling for $9,947.40. The Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for changing adjustable rate mortgages, rose to 1.35 percent last week from 1.3 percent the previous week.

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