Human Genome's Lupus News Nice, Underwhelming

When Human Genome Sciences(HGSI Quote) put out word late Wednesday that it was going to hold a special news conference the following morning, the ears of biotech observers and investors perked up.

Would the well-known genomics firm unveil a blockbuster acquisition? Had its scientists unraveled some groundbreaking medical riddle? Or because we're all fearful of the bioterrorism threat, was CEO Bill Haseltine coming to the rescue with a cure for anthrax?

Well, Thursday morning has come and gone, and the answers to these questions are, disappointingly, no, no and no. The actual news: Human Genome Sciences is starting human clinical trials on one of its young drugs, a possible treatment for lupus and other autoimmune diseases. ...