The biotechnology kicks off its version of a Super Bowl today.
While it doesn't involve cocktail weiners, gallons of beer or the
wave, it's a major event that could have an impact on biotech
exchange traded funds (ETFs).
Today kicks off the annual meeting of the American Society of
Clinical Oncology (
), which will run through June 8. This is the foremost important
meeting for the biotech sector, attended not just by doctors and
leaders in the biotech industry, but biotech investors, as
Marc Lichtenfeld for Investment U reports that
this is the place where companies with cancer drugs in development
present key clinical trial data. [
What Patent Reform Means for Biotech ETFs.
Historically, many biotech stocks run higher in anticipation of
good news at the conference, and this year has been no exception. [
Why Bulls May Prevail in Pharmaceutical ETFs.
Lichtenfeld believes that this decade will be the decade of
biotech. Companies are researching drugs to treat a variety of
diseases and conditions, including cancer, diabetes, hepatitis and
For investors, biotech is a risky sector. One drug approval or
denial can make or break a company's fortunes. This is why biotech
ETFs are a less risky way to play the sector, giving you exposure
to a variety of companies and minimizing the negative impact of an
For more stories about biotech, visit our
SPDR S&P Bioetch (NYSEArca:
iShares Nasdaq Biotechnology (NASDAQ:
First Trust Amex Biotechnology Fund (NYSEArca:
Tisha Guerrero contributed to this article.