NEW YORK, NY--(Marketwire -02/07/12)- Biotech stocks are on fire in 2012. The iShares NASDAQ Biotechnology index is up more than 15 percent year-to-date as impressive earnings results have boosted investor optimism in the industry. According to BB Biotech, "neither the government debt crisis nor recessionary pressures nor all the turmoil on the currency front" have been able to slow the biotech sector. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on YM BioSciences, Inc. (AMEX: YMI - News) (TSX: YM.TO - News) and AEterna Zentaris, Inc. (NASDAQ: AEZS - News) (TSX: AEZ.TO - News). Access to the full company reports can be found at:
BB Biotech says that the expected news flow from biotech pipelines in 2012 "also bodes well" for the industry in the current year. In 2011, regulators approved 13 new biotech products and major R&D milestones were reached all while the industry's revenues and profits exceeded market expectations, BB observes.
Global Industry Analysts, Inc. (GIA) says that improving economic conditions have led to an increase in funding for the biotechnology industry. GIA predicts that the global market for biotechnology will surpass $320 billion by 2015 thanks to increased availability of funding for R&D.
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Aeterna Zentaris Inc. operates as a late-stage drug development company specialized in oncology and endocrine therapy. Last week the company reported 'positive' updated results for the Phase 1 portion of its ongoing Phase 1/2 study in castration- and taxane-resistant prostate cancer (CRPC) with AEZS-108 (zoptarelin doxorubicin), the co's targeted cytotoxic luteinizing hormone-releasing hormone analog.
YM BioSciences Inc., a drug development company, develops, markets, and commercializes hematology and cancer-related products. Its products include CYT387, a small molecule pyrimidine kinase inhibitor that is in Phase I/II clinical trial for the treatment of patients with myelofibrosis, a chronic debilitating disease; and CYT 997, a small molecule microtubule polymerisation inhibitor and vascular disrupting agent, which is Phase Ib/II clinical study for the treatment of solid tumors.
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