The Biotech Industry has continued to provide investors with impressive gains in 2013. The iShares NASDAQ Biotechnology ETF (NASDAQ: IBB) and the SPDR S&P Biotech ETF (NYSEARCA: XBI) have posted gains of approximately 50.0 percent and 47.0 percent, respectively, year-to-date. One factor in the Biotech’s Industry’s recent boom has been the rise in research and development (R&D) spending. According to the 2013 BDO Biotech Briefing, companies listed on the NASDAQ Biotechnology Index on average spent $54.0 million on R&D in 2012, an increase of 8 percent when compared to 2011. "Unlike big pharma companies, who are developing new products while maintaining a consistent level of R&D spending, biotechs continue to demonstrate a desire to increase their R&D investment," said Ryan Starkes, partner and leader of the Life Sciences Practice at BDO. "The good news for the sector is that they are attracting significant capital and are clearly putting those dollars towards their intended use."
Cytori Therapeutics Inc. (NASDAQ: CYTX) shares traded in the range of $2.44 to $2.68 Tuesday before settling to close at $2.56, an increase of 7.11 percent. The stock appears to be facing some resistance at the $2.56 and $2.58 levels with some support at $2.53. Shares of Cytori Therapeutics have fallen approximately 8.5 percent in 2013.
More information on Cytori Therapeutics and access to the free equity report can be found at:
Galectin Therapeutics Inc. (NASDAQ: GALT) shares traded in the range of $7.51 to $8.71 Tuesday before settling to close at $8.57, an increase of 15.34 percent. The stock appears to have some support at the $8.48, $7.71 and $7.45 levels. Shares of Galectin Therapeutics have gained approximately 320.0 percent in 2013.
More information on Galectin Therapeutics and access to the free equity report can be found at:
Immunomedics, Inc. (NASDAQ: IMMU) shares traded in the range of $6.27 to $6.70 Tuesday before settling to close at $6.52, an increase of 3.49 percent. The stock appears to be facing some resistance at $7.23 with some support at the $6.22 and $5.63 levels. Shares of Immunomedics have gained approximately 120.0 percent in 2013.
More information on Immunomedics and access to the free equity report can be found at:
Oxygen Biotherapeutics, Inc. (NASDAQ: OXBT) shares traded in the range of $1.40 to $1.74 Tuesday before settling to close at $1.45, an increase of 12.40 percent. The stock appears to be facing some resistance at the $1.91 and $2.66 levels with some support at $1.41. Shares of Oxygen Biotherapeutics have fallen approximately 88.0 percent in 2013.
More information on Oxygen Biotherapeutics and access to the free equity report can be found at:
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