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Rule Breaker Celera Genomics (NYSE: CRA) and the Human Genome Project officially announced the "draft mapping" of the human genome today. It is believed drug developers will eventually be able to parlay this intimate data about human genes into remarkable new medical technologies.
Celera President Craig Venter stood alongside President Bill Clinton, who was one of a few folks to wax poetic at a press conference in Washington: "Without a doubt," said Clinton, "this is the most important and most wondrous map ever produced by humankind."
Today's news, as suggested in an April Fool News & Commentary item by Soapbox contributor Greg Carlin, represents what's really another leg in a marathon likely to be longer than the jog that will carry the Olympic torch to Sydney. This next leg is the long one, as researchers work to apply the data to develop new treatments.
That's likely why shares of Celera dropped today. The huge runup the shares have experienced in the last several months was in large part anticipation of this event and now the question of when Celera will be able to spin it into money becomes the catalyst for further share price appreciation.
And so the next step for investors will be to watch Celera's success in signing up companies to use its data: Though the Human Genome Project is making its data available for free on the Internet's, Celera's is considered better because it's more complete and more redundantly tested. Immunex (Nasdaq: IMNX), maker of arthritis drug Enbrel, joined a growing group of Celera customers today. Financial details were not disclosed.
For more discussion of what today's announcement means, both scientifically and to investors, meet up with Fools David Gardner and Jeff Fischer in a live Yahoo! chat tonight at 7 p.m. ET.
Post your thoughts on today's news to our Celera discussion board.
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