Higher Rate of FDA New Drug Approvals a Major Factor in Biotech Industry's Success in 2012

NEW YORK, NY -- (Marketwire) -- 01/02/13 -- The Biotech Industry has skyrocketed in 2012 as an increase in the number of new drug approvals has boosted investor optimism within the industry. The iShares Nasdaq Biotechnology Index Fund (IBB) and the SPDR S&P Biotech ETF (XBI) have both gained over 30 percent year-to-date. Five Star Equities examines the outlook for companies in the Biotech Industry and provides equity research on Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX) and Vical Inc. (NASDAQ: VICL).

Access to the full company reports can be found at:

www.FiveStarEquities.com/PGNX

www.FiveStarEquities.com/VICL

"In 2011, the U.S. FDA approved 30 new drugs, compared to 21 in 2010," S&P Capital IQ wrote in a note. "Through September 2012, the year-to-date total was 22. We see an improving trend for FDA first cycle review approvals and a rise in the rate of new drug approvals for rare diseases, which we think is helping to boost investor sentiment for the agency, after years of criticism stemming from inconsistency in making and communicating its decisions."

Another key factor in the Biotech Industry's success has been the "patent cliff" major pharmaceuticals have faced in 2012. Major drug manufacturers have looked to biotech companies to help offset major revenue losses from expiring patents as it is less time consuming than developing new drugs through R&D.

Five Star Equities releases regular market updates on the Biotech Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.

Progenics Pharmaceuticals is a biopharmaceutical company focused on innovative therapeutics for patients suffering from cancer and related conditions. Progenics' pipeline candidates include PSMA ADC, a fully human monoclonal antibody-drug conjugate in Phase 2 testing for treatment of prostate cancer, and preclinical stage novel phosphoinositide 3-kinase inhibitors for the treatment of cancer.

Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. The company is developing certain infectious disease vaccines and cancer therapeutics internally. Vical last month announced that they have licensed Vaxfectin adjuvant to Cyvax, Inc. for use in malaria vaccines.

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