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Biotech Shows Glimmer of an Upward Trend
Date:6/1/2009

the sidelines, to 'pull the trigger' on biotech deals so that they don't lose out to their competitors," added Burrill.

Shares of Dendreon have increased in value by a whopping 440 percent since the company first announced it had positive Phase III data that showed its lead product Provenge extended the lives of men with advanced prostate cancer by an average of 4.1 months. According to analysts, Dendreon should be able to file for regulatory approval during the fourth quarter 2009. On the basis of its positive clinical data and strengthening share price the company raised $221 million, the second best biotech financing deal so far this year, to help fund the manufacture and sale of Provenge.

"While the industry overall is still going through tough times, and we predict it is still going to take many more months before biotech starts on the road to full recovery it is encouraging to see that investors are prepared to reward biotech companies that do achieve significant milestones," Burrill noted.

"In addition, despite the prevailing economic recession and travel restrictions some countries imposed because of the H1N1 flu outbreak, the 2009 BIO International Convention, held this month, attracted well over 14,000 attendees to Atlanta, Georgia," added Burrill. "The success of the meeting demonstrates that business is still ongoing and companies are actively looking for strategies and partners to help them get through the challenges that they are currently facing."

By the Numbers

The monthly Burrill Report (www.burrillreport.com) provides ongoing statistics and analysis on the 343 biotechs that are publicly traded on major US markets. Among the current data the publication reports that: at the end of May this group of companies had an aggregate market cap of $297.6 billion (up 3.6 percent for the month). Also:

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SOURCE Burrill & Company
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