BOSTON ( TheStreet) -- Welcome to this week's Biotech Stock Mailbag.
The results from the phase III study of Exact Sciences' (EXAS) non-invasive colon cancer screening test were labeled disappointing by a lot of investors, analysts and biotech stock commentators (ahem) when released on April 17.
Alan P. writes: "With biotech companies doing so well and the stocks surging, I'm surprised that we're not seeing more acquisitions being announced. Is there a reason for this? The rumors about takeovers don't seem to come true very much and I wonder why. Thanks for your help." Alan is correct about the relative dearth of healthcare mergers-and-acquisitions activity this year. Through the end of May, U.S.-based M&A healthcare deals totaled $34.1 billion, down 12% compared to the same time period last year, according to healthcare merchant bank Burrill & Co.
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