NEW YORK, NY--(Marketwire -07/20/12)- The Biotechnology Industry has been soaring in 2012 as companies -- both large and small -- have shown impressive growth. The SPDR S&P Biotech ETF (XBI) and the First Trust NYSE Arca Biotech Index ETF (FBT) year-to-date are up 37 percent and 35 percent, respectively, outperforming the broader market by a wide margin. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on Galena Biopharma Inc. (GALE) and Synta Pharmaceuticals Corp. (SNTA).
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Despite having to negotiate a more challenging regulation process, biotech companies have continued to show investors strong gains in 2012. The FDA Amendments Act of 2007 forced regulators to increase standards for approvals of new drugs, introducing mandatory risk evaluation and mitigation strategies. According to a Pharmaceuticals & Biotechnology report from IMAP, several pharmaceutical firms have altered their drug portfolios from primary care driven blockbusters towards specialties such as oncology, immunology and inflammation, where the medical need is "so high that prices are more easily accepted by the regulators."
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Galena Biopharma is a biopharmaceutical company that develops innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. Shares of the company soared over 16 percent Wednesday after the company reported it received a key patent from the U.S. Patent and Trademark Office.
Synta Pharmaceuticals lead drug, ganetespib, has demonstrated compelling anti-cancer activity in multiple targeted patient populations, including in lung cancer and breast cancer, and has shown a favorable safety profile in over 450 patients treated to date. Shares of the company have surged nearly 60 percent in the last three months.
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