SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Sep 27, 2012) - The Biotechnology Industry has seen increased investor interest in 2012 as it continues to impress with strong gains. The iShares NASDAQ Biotechnology Index ETF (IBB) has gained over 35 percent this year, more than double the S&P 500 Index's gain of 15 percent. New legislation, increased mergers & acquisition activity as a result of major patent expirations have all been contributing factors to industry's rapid rise in 2012. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Genetic Technologies Limited (NASDAQ: GENE) and MannKind Corporation (NASDAQ: MNKD).
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The Biotechnology Industry Organization (BIO) has recently praised the introduction of the High Technology Small Business Research Incentives Act. The new legislation would allow investors of joint venture R&D projects to utilize the losses and tax credits.
"Through the tax code, Congress historically has provided opportunities that encourage private investment in pre-revenue, R&D-intensive companies. The early growth of the biotech industry in the 1980s was due in part to the ability of investors to support projects aimed at finding new cures and treatments through similar joint ventures. This legislation will help spur greater private investment in biotech and other R&D intensive industries," BIO's President and CEO Jim Greenwood said in a statement.
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Genetic Technologies is an established diagnostics company with more than 20 years of experience in commercializing genetic testing, non‐coding DNA and product patenting. Shares of the company soared after they reported BREVAGen, their breast cancer test, has been cleared for sale into the State of Florida.
MannKind is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes and cancer. The company's lead investigational product candidate, AFREZZA, is a novel, ultra rapid-acting mealtime insulin therapy.
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