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 51.0 percent and 46.0 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."
Array Biopharma Inc. (NASDAQ: ARRY) shares traded in the range of $6.07 to $6.18 Friday before settling to close at $6.12, an increase of 0.49 percent. The stock appears to be facing some resistance at the $6.16 and $6.33 levels with some support at $5.95. Shares of Array Biopharma have gained approximately 65.0 percent in 2013.
More information on Array Biopharma and access to the free equity report can be found at:
GenVec Inc. (NASDAQ: GNVC) shares traded in the range of $0.90 to $1.31 Friday before settling to close at $1.19, an increase of 22.69 percent. The stock appears to be facing some resistance at the $1.23 and $1.46 levels with some support at $1.13. Shares of GenVec have fallen approximately 10.0 percent in 2013.
More information on GenVec and access to the free equity report can be found at:
Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) shares traded in the range of $4.85 to $5.63 Friday before settling to close at $5.48, an increase of 9.16 percent. The stock appears to be facing some resistance at the $5.50 with some support at the $5.41 and $5.25 levels. Shares of Idenix Pharmaceuticals have gained approximately 13.0 percent in 2013.
More information on Idenix Pharmaceuticals and access to the free equity report can be found at:
Novavax, Inc. (NASDAQ: NVAX) shares traded in the range of $3.30 to $3.50 Friday before settling to close at $3.39, an increase of 1.50 percent. The stock appears to be facing some resistance at $3.45 with some support at the $3.36 and $2.70. Shares of Novavax have gained approximately 80.0 percent in 2013.
More information on Novavax and access to the free equity report can be found at:
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