SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Oct 2, 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 the industry's rapid rise in 2012. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Synta Pharmaceuticals Corp. (NASDAQ: SNTA) and Novavax, Inc. (NASDAQ: NVAX).
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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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Synta Pharmaceuticals is a biopharmaceutical company focused on discovering, developing, and commercializing small molecule drugs to extend and enhance the lives of patients with severe medical conditions, including cancer and chronic inflammatory diseases. Shares of the company surged Monday after reporting positive data for their cancer drug Ganetespib.
Novavax scientists and engineers have developed proprietary virus-like particle (VLP) technology in an effort to build safer and more effective vaccines against many of the world's most important and threatening infectious diseases. The company recently reported that they will present findings from the company's respiratory syncytial virus (RSV) vaccine development program at the 8th Annual International Respiratory Virus Symposium meeting in Santa Fe, New Mexico.
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