NEW YORK, NY--(Marketwire -08/24/12)- Biotechnology stocks continue to be some of the strongest performers in the markets as favorable legislation, such as the FAST and TREAT acts, have helped boost investor optimism within the industry. The iShares Nasdaq Biotechnology Index Fund is up over 28 percent in 2012 -- handedly outperforming the Dow Jones industrial average year-to-date. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Affymax, Inc. (AFFY) and Threshold Pharmaceuticals, Inc. (THLD).
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The FAST and TREAT acts introduced in 2012 have helped accelerate the development, review and approval process of medicines/personalized therapies for patients suffering from serious and life-threatening diseases. According to recent data from Thomson Reuters, biotech mergers & acquisitions activity is currently at a four-year high as large pharmaceuticals are facing major patent cliffs. So far in 2012 the volume of biotech M&A has exceeded $25 billion, compared to roughly 10 billion in the same period of 2011.
"Their patents have expired, and as a result they have holes in their revenue line they are trying to fill," said Scott Lindsay, global head of mergers and acquisitions at Credit Suisse. "The other part is just shoring up the pipeline they have. So even if they don't have a major patent problem, they're all looking for growth."
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Affymax's mission is to discover, develop and deliver innovative therapies that improve the lives of patients with kidney disease and other serious and often life-threatening illnesses. The company's first marketed product, OMONTYS, was approved by the U.S. Food and Drug Administration in March 2012.
Threshold is focused on the discovery and development of drugs targeting tumor hypoxia, the low oxygen condition found in microenvironments of most solid tumors as well as the bone marrows of some hematologic malignancies. By selectively targeting tumor cells, Threshold is building a pipeline of drugs that hold promise to be more effective and less toxic to healthy tissues than conventional anticancer drugs.
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