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Quick Take: The Next Big Thing in Biotech

NEW YORK ( TheStreet) -- TheStreet's senior columnist Adam Feuerstein and Gregg Greenberg talked about the research abstracts ahead of the American Society of Clinical Oncology event later this month.

Overall, biotech companies were mostly trading down following the release, something many investors may not have expected from such a strong showing of cancer relief methods.

"The new cancer drug data we got from ASCO last night was really strong, but for Wall Street, that was expected," Feuerstein said. "Many of these stocks traded up into the ASCO event, so they're selling off today," he added.

Greenberg was curious about what he considered some of the winners and losers. According to Feuerstein, Bristol-Myers (BMY - Get Report) , Halozyme Therapeutics (HALO - Get Report) and Gilead Sciences (GILD - Get Report) had the strongest outings. Feuerstein believes Gilead's leukemia product in particular "looks strong."

As for the losers? Infinity Pharmaceuticals (INFI - Get Report) failed to impress with Feuerstein noting, "of the three drugs, Infinity looks like it might be in last place" when comparing it to other competitors. Investors noticed as well, with the stock closing lower Thursday although it is higher Friday.

--Written by Bret Kenwell in New York.
Bret Kenwell currently writes, blogs and also contributes to Rocco Pendola's Weekly Options Newsletter. Focuses on short- to intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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BMY $72.26 2.90%
HALO $10.84 -1.00%
GILD $91.14 -9.50%
INFI $5.96 0.00%
AAPL $95.03 -2.90%


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