FDA Guarantees Support for New Medical Technology

T he Food and Drug Administration reported that it will work together with medical device manufacturers on a public-private joint venture intended to speed up the growth of new medical technology.

The organization utters it expects to proffer management to the Medical Device Innovation Consortium, a novel industry-backed group that aspires to abridge the design and testing of medical devices.

Medical device producers have condemned the FDA for an excessively troublesome appraisal process, which they assert slows down growth of significant new therapies. Congressional Republicans have held numerous hearings to inspect the agency’s system.
Here we are going to discuss some hot Biotech stocks.

Peregrine Pharmaceuticals (NASDAQ: PPHM) plunged -0.78% and closed at $1.28 with the overall traded volume of 9.10 million shares more than the average volume of 3.52 million.

Peregrine Pharmaceuticals ( NASDAQ " /> PHM ), a biopharmaceutical company developing first-in-class monoclonal antibodies focused on the treatment and diagnosis of cancer, declared that it has made momentous development in advancing its Cotara program into late-stage growth through its concord with the U.S. Food and Drug Administration (FDA) on the plan of a single registration test for Cotara in patients with recurring glioblastoma multiforme (GBM).

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) reported the fall of -6.60% and closed at $4.67 with the total traded volume of 4.94 million shares. ACAD has market cap of 264.42 million.

ACADIA Pharmaceuticals options set a new 90-day record for the number of contracts that exchanged hands amid the buyers and the sellers on equally the call and put side. Collective volume of puts was 6,225 and calls were 16,345 equating to a 0.38 put/call ratio.

Dendreon Corporation (NASDAQ NDN) gained +6.59% with the closing price of $4.69. The overall volume in the last trading session was 4.87 million shares. Its fifty two week range was $3.69-$17.04. The total market capitalization remained $723.75 million.

DNDN is ahead its 52 week low with 27.10% and its last month price volatility remained 3.87%. Its beta coefficient was 2.17 with a target price of $6.11. Company’s current year earnings per share grew with 27.32% while the five year EPS growth rate was 0.00%.