The biotechnology industry, which features companies such as Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) and Threshold Pharmaceuticals, Inc. (NASDAQ:THLD), has been showing a strong rally in 2012 as both large and small firms have demonstrated impressive growth. The SPDR S&P Biotech (ETF) (NYSEARCA:XBI) and the First Trust NYSE Arca Biotchnlgy Indx Fd (NYSEARCA:FBT) so far this year are up about 38%, outperforming the broader market by a wide margin.
Despite having to talk a more tough regulation process, biotech stocks have sustained to show investors strong gains in 2012. IMAP released a Pharmaceuticals & Biotechnology report disclosing that a number of pharmaceutical firms have changed their drug portfolios towards specialties like oncology, immunology and inflammation, where the medical demand is far above the ground and prices are more simply accepted by the regulators.
Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX)
Onyx Pharmaceuticals Inc. shares surged after the news that Company has gotten approval from the U.S Food and Drug Administration (FDA) of its Kyprolis (carfilzomib) for Injection, a proteasome inhibitor, indicated for the treatment of patients with multiple myeloma. Shares of Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) touched a new 52-week high after approval from FDA and mounted earlier on Friday.
ONXX reported the gain of +11.67% and closed at $76.38 and traded above average volume of shares that was 9.45 million shares. Its price to earnings ratio ended at 99.57 and ONXX has earnings per share of $0.77. It gained 5.15% return on assets and 9.58% return on equity.
StemCells, Inc. (NASDAQ:STEM)
StemCells, Inc. (NASDAQ:STEM) is also one of the hot stocks from the Biotechnology industry. Shares of STEM gained a surge of 10.71% following its declaration of positive results from its Alzheimer’s preclinical trials, which indicated memory restoration and improved synaptic function after relocating human neural stem cells into animal models.
In last trading session, its volume was 6.42 million shares, more than the average volume of 1.21 million and closed at $1.55. STEM touched the day high price of $1.68 and day low of $1.31 while stock was opened at $1.41.
Array Biopharma Inc (NASDAQ:ARRY)
Array BioPharma Inc. is a biopharmaceutical company. ARRY also ended up positively and gained +7.09% to close at $4.30. Its total volume during last trading session was 1.25 million shares.
Surge and above average volume of shares of ARRY was gained when ARRY announced that it had signed an agreement with Amgen in 2009 for the worldwide development of the small-molecule glucokinase activator (GKA) program and achieved a target of $8.5 million in its collaboration with Amgen.