Wave of FDA Fast Track Designations Sparks Renewed Interest in Biotech Sector That's Heating Up

FN Media Group Presents USA News Group News Commentary

VANCOUVER, British Colombia , Dec. 1, 2022 /PRNewswire/ -- USA News Group  -  A series of new Fast Track designations have been handed out by the United States Food and Drug Administration (FDA) this week, causing a flurry of activity in the markets for the worthy recipients. The most recent to gain such a designation is pelareorep from Oncolytics Biotech Inc. (NASDAQ:ONCY) (TSX:ONC.TO) in combination with atezolizumab, an anti-PD-L1 checkpoint inhibitor from Roche Holding AG (OTCQX:RHHBY) for the treatment of advanced/metastatic pancreatic ductal adenocarcinoma (PDAC). Among the small handful of other companies that recently received this distinction for their platforms have been Aravive, Inc. (NASDAQ:ARAV), Caribou Biosciences, Inc. (NASDAQ:CRBU), and Kintara Therapeutics, Inc. (NASDAQ:KTRA).