SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Oct 8, 2012) - The Biotechnology Industry has seen increased investor interest in 2012 as it continues to impress with strong gains. The iShares NASDAQ Biotechnology Index ETF (IBB) has gained over 35 percent this year, more than double the S&P 500 Index's gain of 15 percent. New legislation, increased mergers & acquisition activity as a result of major patent expirations have all been contributing factors to industry's rapid rise in 2012. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Exelixis, Inc. (NASDAQ: EXEL) and Halozyme Therapeutics, Inc. (NASDAQ: HALO).
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The Biotechnology Industry Organization (BIO) has recently praised the introduction of the High Technology Small Business Research Incentives Act. The new legislation would allow investors of joint venture R&D projects to utilize the losses and tax credits.
"Through the tax code, Congress historically has provided opportunities that encourage private investment in pre-revenue, R&D-intensive companies. The early growth of the biotech industry in the 1980s was due in part to the ability of investors to support projects aimed at finding new cures and treatments through similar joint ventures. This legislation will help spur greater private investment in biotech and other R&D intensive industries." BIO's President and CEO Jim Greenwood said in a statement.
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Exelixis is a biotechnology company committed to developing small molecule therapies for the treatment of cancer. Exelixis is focusing its proprietary resources and development efforts exclusively on cabozantinib, its most advanced product candidate. The company recently reported positive data from a phase 2 randomized discontinuation trial.
With a diversified portfolio of enzymes that target the extracellular matrix, Halozyme Therapeutics's research focuses primarily on a family of human enzymes, known as hyaluronidases, which increase the absorption and dispersion of biologics, drugs and fluids. The company recently reported the FDA has provided guidance enabling ViroPharma to resume clinical studies of the subcutaneous administration of Cinryze in combination with rHuPH20.
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