Biotech Industry Looks to Benefit From New Legislation Passed to Help Speed Up FDA Review Process
The Paragon Report Provides Stock Research on Celsion and Oncothyreon
NEW YORK, NY -- (Marketwire) -- 09/14/12 -- Despite concerns of a global economic slowdown the Biotech Industry has impressed investors with strong gains in 2012. Patent expirations, favorable legislation, and a faster review process have been some of the contributing factors for the industry's current boom. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on Celsion Corporation (NASDAQ: CLSN) and Oncothyreon Inc. (NASDAQ: ONTY).
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The Food and Drug Administration Safety and Innovation Act (FDASIA) was signed into law on July 9, 2012 by President Obama. The law allows the FDA to collect "user fees" to help fund reviews of innovator drugs, medical devices, generic drugs and biosimilars.
"The legislation will enhance the development and review of innovative new therapies through increased transparency and scientific dialogue, advancements in regulatory science and strengthened post-market review. It will also increase the Food and Drug Administration's (FDA) access to external expertise to improve the drug review process," Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood said in a statement.
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Celsion is a late-stage biopharmaceutical company dedicated to the development of innovative, targeted therapies that address unmet medical needs in oncology. By applying their unique heat-activated liposomal drug delivery system to proven anti-cancer agents, we can deliver high concentrations of chemotherapeutics directly to the tumor site. Shares of the company have gained over 50 percent in the last month.
Oncothyreon is a biotechnology company specializing in the development of innovative therapeutic products for the treatment of cancer. The company recently reported that it has expanded its Phase 2 of Trial PX-866 in patients with recurrent or metastatic castration-resistant prostate cancer. Stifel Nicolaus recently provided the company with a buy rating and price target of $10.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.paragonreport.com/disclaimer