SOURCE: The Bedford Report

The Bedford Report

June 27, 2011 08:16 ET

Exelixis and OPKO Show Favorable Financials

The Bedford Report Provides Stock Research on Exelixis & OPKO Health

NEW YORK, NY--(Marketwire - Jun 27, 2011) - The biotech industry is generating significant investor interest this year as an influx of new and lucrative therapies work their way towards regulatory approval. Although younger, unprofitable firms are having difficulty securing funding, reports suggest biotech companies with promising pipelines should be able to secure necessary capital. The Bedford Report examines the outlook for companies in the biotechnology industry and provides equity research on Exelixis, Inc. (NASDAQ: EXEL) and OPKO Health, Inc. (NYSE Amex: OPK). Access to the full company reports can be found at:

According to a recent report from Ernst & Young, US biotech companies raised $25 billion last year -- a 15 percent jump over the previous year and the highest amount since 2007. Of concern is that more than 82 percent of that funding went to 20 percent of the companies. Younger, unprofitable companies in the US that depend on funding from venture capital firms, stock sales and partnerships saw available capital decline 21 percent in 2010.

The Bedford Report releases investment research on the Biotechnology industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Earlier this month OPKO Health announced the award of research grants in 2011 totaling more than US$1 million from the Mexican national technology and science council. OPKO says the grants will be used by OPKO's wholly-owned Mexican subsidiary to advance development of several research projects in ophthalmology, infectious disease, and oncology.

Back in 2006, Bristol-Myers Squibb Co. (NYSE: BMY) and Exelixis entered into a worldwide collaboration to discover, develop and commercialize novel targeted therapies for the treatment of cancer. Under the terms of the agreement, BMS paid an upfront payment of $60 million in cash. Exelixis will also receive $20 million for each of up to the three different drug candidates selected by BMS at IND.

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