NEW YORK, NY -- (Marketwire) -- 04/04/12 -- They say you never want to catch a falling knife, but what to do with a rising star such as the Biotech Industry? Biotech stocks have continued to impress investors this current year with the Biotech Industry striking a 30 percent gain year-to-date, according to the Biotech Index (BTK). Five Star Equities examines the outlook for companies in the Biotechnology Industry and provides investment research on Pharmacyclics, Inc. (NASDAQ: PCYC) and Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX).
"I think we are beginning to see signs of life amongst biotechs, with new products coming to market that are gaining traction. Innovation is a great way to get paid, in any market environment or regulatory environment," says Marshall Gordon, health care analyst at Clear Bridge Advisors. "If you look at the pharmaceutical industry today, they are desperate for products, and the way to get those is by buying biotech," he says.
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Pharmacyclics, Inc. reported the non-GAAP (Generally Accepted Accounting Principles) net income reported for the fiscal quarter ended December 31, 2011 was $58.6 million, or $0.82 diluted earnings per share. This compares with a non-GAAP net loss of $6.1 million, or $0.10 loss per share, for the fiscal quarter ended December 31, 2010.
Onyx Pharmaceuticals, Inc. recently announced results from the Phase 3 trial GRID (GIST - Regorafenib in Progressive Disease) evaluating the investigational compound regorafenib (BAY 73-4506), a Bayer-owned compound, for the treatment of patients with metastatic and/or unresectable gastrointestinal stromal tumors (GIST) whose disease has progressed despite prior treatment with at least imatinib and sunitinib. The trial met its primary endpoint of statistically significant improvement in progression-free survival.
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