NEW YORK, NY--(Marketwire - Nov 15, 2012) - The Biotech Industry has skyrocketed in 2012 as an increase in the number of new drug approvals has boosted investor optimism within the industry. The iShares Nasdaq Biotechnology Index Fund (IBB) and the SPDR S&P Biotech ETF (XBI) have both gained over 25 percent year-to-date. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Dynavax Technologies Corporation (NASDAQ: DVAX) and OXiGENE, Inc. (NASDAQ: OXGN).
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"In 2011, the U.S. FDA approved 30 new drugs, compared to 21 in 2010," S&P Capital IQ wrote in a note. "Through September 2012, the year-to-date total was 22. We see an improving trend for FDA first cycle review approvals and a rise in the rate of new drug approvals for rare diseases, which we think is helping to boost investor sentiment for the agency, after years of criticism stemming from inconsistency in making and communicating its decisions."
Another key factor in the Biotech Industry's success has been the "patent cliff" major pharmaceuticals have faced in 2012. Major drug manufacturers have looked to biotech companies to help offset major revenue losses from expiring patents as it is less time consuming than developing new drugs through R&D.
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Dynavax Technologies Corporation is a clinical-stage biopharmaceutical company that discovers and develops novel products to prevent and treat infectious and inflammatory diseases. Their lead product candidate is HEPLISAV, a Phase 3 investigational adult hepatitis B vaccine. A FDA review of the company's HBV vaccine is set for November 15.
OXiGENE is a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer. The company's major focus is developing vascular disrupting agents that selectively disrupt abnormal blood vessels associated with solid tumor progression. Recent results from a Phase 2 trial of ZYBRESTAT have shown the drug has the potential to treat a degenerative eye disease.
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