NEW YORK, NY -- (Marketwire) -- 08/20/12 -- 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 Keryx Biopharmaceuticals (NASDAQ: KERX) and Galena Biopharma Inc. (NASDAQ: GALE).
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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 Thomas 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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Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of renal disease. Keryx is developing Zerenex, an oral, ferric iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes.
Galena Biopharma is focused on discovering, developing and commercializing innovative therapies addressing major unmet medical needs using targeted biotherapeutics. Net loss for the three months ended June 30, 2012 was $0.2 million compared to a net loss of $3.8 million for the three months ended June 30, 2011.
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