CLSN Stock: Why Biotech Celsion Is Soaring Today CLSN is on the rise after getting fast-track approval from the FDA Feb 22, 2021, 10:29 am EDT February 22, 2021
Celsion (NASDAQ:
CLSN) stock was on the rise Monday after announcing fast-track approval from the U.S. Food and Drug Administration (FDA). This covers the treatment of advanced ovarian cancer from the company.
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The fast-track status is for GEN-1. This is a DNA-mediated interleukin-12 (IL-12) immunotherapy designed to treat ovarian cancer. The company notes that this treatment is currently being tested in a Phase II clinical trial.
The fast-track designation comes after Celsion shared data from the Phase 1 study of combining GEN-1 with neoadjuvant chemotherapy with the FDA. That includes seven out of eight patients in the study seeing complete tumor resection. For comparison, just neoadjuvant chemotherapy alone had a 50% resection rate.
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Philip Norcross
Law firm Parker McCay and lobbying firm Optimus Partners might represent the epitome of the politically connected firms – if the news headlines and government watchdogs are to be believed. Philip, an executive at both, is the nexus of those connections. That became evident in 2019, when activists and a task force put together by the Murphy administration outlined Optimus’ and Parker McCay’s alleged influence over the creation of the 2013 tax break program, and in helping businesses win lucrative incentive awards. Philip is the brother of both George Norcross, the South Jersey political kingmaker, and Donald Norcross, a U.S. congressman representing the First Congressional District. With the creation of a new massive tax break legislation, Trenton insiders have been speculating about just what kind of role Philip could play in helping businesses win incentives.