NEW YORK, NY / ACCESSWIRE / January 4, 2017 / The Biotech Industry posted a sharp loss in 2016 as concerns over price gouging plagued the Industry. The iShares NASDAQ Biotechnology Index ETF (IBB) fell over 21 percent last year. While the Biotech Industry did experience a spike immediately following Donald Trump's victory over Hillary Clinton in the Presidential Election, the rally faded after President Trump stated, "I'm going to bring down drug prices. I don't like what has happened with drug prices," in an Interview with Time Magazine.

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According the Reuters, the U.S. Food and Drug Administration (FDA) approved only 22 new drugs in 2016, which was less than 50 percent of the 45 new drugs approved in 2015. The number of drugs approved in 2016 was the lowest mark seen since 2010. President Trump has previously stated he would like to quicken the approval process.

Let's Take a Closer Look at Biotech Stocks to Watch in 2017

ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD)

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ACADIA Pharmaceuticals' shares declined 0.24 percent to close at $28.77 a share Tuesday. The stock traded between $28.53 and $29.54 on volume of 1.37 million shares traded. ACADIA is a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders.

On December 20th, the company reported positive top-line results from its Phase II exploratory study (-019 Study) of pimavanserin in patients with Alzheimer's disease psychosis (AD Psychosis). The Phase II -019 Study was a double-blind, placebo-controlled exploratory trial designed to evaluate the efficacy and safety of pimavanserin as a treatment for patients with AD Psychosis. "Data from the -019 Study provide solid evidence that pimavanserin can improve psychosis in another major neurological disorder and provide strategic momentum for the further development of pimavanserin to address the needs of AD Psychosis patients," said Steve Davis, ACADIA's President and Chief Executive Officer.

Exelixis, Inc. (NASDAQ: EXEL)

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Exelixis' shares declined 1.21 percent to close at $14.73 a share Tuesday. The stock traded between $14.22 and $15.33 on volume of 4.96 million shares traded. Currently, Exelixis is focused on advancing cabozantinib, an inhibitor of multiple tyrosine kinases including MET, AXL and VEGF receptors, which has shown clinical anti-tumor activity in more than 20 forms of cancer and is the subject of a broad clinical development program.

On April 25th, 2016, the company announced that the U.S. Food and Drug Administration (FDA) has approved CABOMETYX? (cabozantinib) tablets for the treatment of patients with advanced renal cell carcinoma (RCC) who have received prior anti-angiogenic therapy. CABOMETYX was approved in the European Union (EU) on September 9, 2016 for the treatment of RCC in adults following prior vascular endothelial growth factor (VEGF)-targeted therapy.

On Nov 03, 2016, the Exelixis posted $31.2 million in net product revenue during the third quarter of 2016, which also reflects first full quarter of product sales. While Exelixis focuses on commercialization in the United States, its partner Ipsen is in the process of launching CABOMETYX in the European Union and the commercialization and continued development of cabozantinib in Canada. The regulatory filing in Canada is expected in 2017, with regulatory approval anticipated in early 2018.

Exelixis maintains exclusive rights for cabozantinib in the United States and Japan, whereas it is eligible to receive royalties on CABOMETYX sales by Ipsen in European Union and in Canada.

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