Zacks.com Expert Watch Highlights the Following Stocks: Imclone, Abgenix, Amgen, Dendreon, and ISTA Pharmaceuticals.

CHICAGO -- Biotechnology holds the keys to the future of your health and your profits. Discover the companies that will change your life and portfolio today. Read the full Experts Watch article with commentary and recommendations on Imclone (NASDAQ:IMCL), Abgenix (NASDAQ:ABGX), Amgen (NASDAQ:AMGN), Dendreon (NASDAQ:DNDN) and ISTA Pharmaceuticals (NASDAQ:ISTA) go to; http://at.zacks.com/?id=101

Here are the highlights from the Experts Watch column:

Each spring the American Society of Clinical Oncologists convenes for the reporting of the most recent data in the battle against cancer. The Experts closely scrutinize the data that comes out of this meeting as it can be incredibly lucrative. In spite of the fact that the AMEX Biotech Index is off 14% from its highs in mid-April, the Experts believe there are a number of hot biotech stories that can help round out your portfolio.

According to Dr. Scott and Nadine Wong, editors of the Biotech Stock Report, the biggest story to come out of this year's ASCO meeting was data on Imclone's (NASDAQ:IMCL) drug, Erbitux. The drug was revealed to improve the efficacy of radiation in the treatment of head and neck cancers. Erbitux is a mouse/human chimeric monoclonal antibody that targets the human epithelial growth factor receptor (EGFR) that is found in normal and cancerous tissue. Imclone is not currently in the Wong's Bioportfolio, but the head and neck cancer theme is very important to their current investment strategies.

Abgenix (NASDAQ:ABGX) and Amgen (NASDAQ:AMGN) presented data together at the ASCO meeting on their EGFR treatment. The company's report on ABX-EGF places it on par with Erbitux, according the Wongs. Specifically, patients in a Phase II clinical trial exhibited a 10% objective response rate, which provided stimulus for a larger Phase III clinical trial. The Wongs will be looking for that next release of data, but they own both companies in their Bioportfolio.

Dendreon (NASDAQ:DNDN) adopts an alternative approach. The company is working on the development of a cancer vaccine. Interestingly, Dendreon's share price appreciated during the last week of June, after a workshop held by the FDA on Tuesday, June 22, to formulate a strategy on possible alternative standards the agency could use to gauge the effectiveness of drugs to treat prostate cancer. Dendreon did announce it received fast track FDA designation for the use of Provenge in treating asymptomatic metastatic androgen-independent prostate cancer, and released data that it improves survival times in patients. The Wongs have a target price of $17.

Lon Juricic, editor of the Biotech Insider, also sees profits to be made in the biotech arena. Specifically, he recently added ISTA Pharmaceuticals (NASDAQ:ISTA) to his portfolio. ISTA's products seek to address serious diseases and conditions of the eye such as vitreous hemorrhage, diabetic retinopathy, hyphema, glaucoma, ocular pain and inflammation. ISTA announced FDA approval of Istalol for glaucoma, which is the company's second FDA approval; the company announced FDA approval for Vitrase as a spreading agent in May. Because of the company's successful navigation of the FDA system, its undiscovered status, and the numerous positive catalysts, Juricic believes ISTA represents a major opportunity for risk adverse biotech investors.

Read the full report with insight from the experts at Zacks.com: http://at.zacks.com/?id=102

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