NEW YORK, NY--(Marketwire -06/22/12)- Despite the recent economic turmoil in Europe, the Biotech Industry has been home to some of the strongest performers in the market in 2012. The SPDR S&P Biotech ETF (XBI) and the First Trust NYSE Arca Biotech Index ETF (FBT) year-to-date are up 28 percent and 34 percent, respectively. As the world continues to face evolving health challenges the discoveries of new therapeutics and vaccines are critical. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Aastrom Biosciences, Inc. (ASTM) and Cell Therapeutics Inc. (CTIC).
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After cutting research costs by 21 percent in 2009, the Biotech Industry has seen R&D spending jump 9 percent in 2011, after a 2 percent increase in 2010 according to Ernst & Young's annual biotechnology report. 62 percent of public U.S. biotech companies have increased R&D spending in 2011.
"Companies that were in deep cost-cutting mode in 2009 and cautiously optimistic in 2010 may have become somewhat more willing to loosen their purse strings in 2011," wrote Glen Giovannetti and Gautam Jaggi, the report authors. "The financial performance of publicly traded companies is more robust than at any time since the onset of the global financial crisis."
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Aastrom Biosciences is dedicated to the development of treatments for critical cardiovascular diseases. Aastrom is currently evaluating its autologous cellular therapies in late-stage U.S. clinical trials in the treatment of critical limb ischemia (CLI) and dilated cardiomyopathy (DCM). These critical diseases are associated with significant morbidity and mortality and very limited treatment options.
Cell Therapeutics is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. The company recently announced that it is re-aligning its resources and re-prioritizing its portfolio to help reduce the company's burn rate by more than 30 percent.
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