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Global Oncology Breakthroughs Being Fueled by Advancements in Clinical Trials and New Therapies
PALM BEACH, Fla., July 08, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - ...
About this update from Oncolytics Biotech Inc.
[{"type":"text","content":"Global Oncology Breakthroughs Being Fueled by Advancements in Clinical Trials and New Therapies\n\n\n\n PALM BEACH, Fla., July 08, 2025 (GLOBE NEWSWIRE) --\n \n\n FN Media Group\n \n\n\n News Commentary\n \n - The global oncology market, including breakthrough treatments, is experiencing substantial growth, with revenues projected to reach hundreds of billions of dollars in the coming years. Several factors are driving this expansion, including rising cancer incidence, advancements in therapies like precision medicine and immunotherapy, and increased investment in research and development. A\n \n report\n \n from Grand View Research said that the global breakthrough therapy designation market size is projected to grow at a CAGR of 14.2% through 2030. It is a process designed to escalate the development and assessment of sanctioning of drugs & biologics that are proposed for treating severe diseases, whereas primary clinical evidence notifies that the drug determines considerable enhancement over existing therapy on a clinically significant endpoint. Furthermore, the BT (Breakthrough) designation lets pharma companies hasten the developmental process by offering additional support and assistance from the FDA and making medications available to the public faster. The report continued: “Apart from breakthrough designation therapy, there are some important tools, all of which have been in place for many years, such as fast-track designation, accelerated approval, and priority review. All of these are inclined toward approving drugs used to treat serious disorders. Although these processes can reduce a drug's time to market, standard clinical testing is required for the development process, which usually involves three phases of large-scale and controlled trials.” Active oncology biotech and pharma companies in the markets this week include\n \n Oncolytics Biotech\n \n\n\n ®\n \n\n\n Inc.\n \n (NASDAQ: ONCY) (TSX: ONC),\n \n Mustang Bio, Inc.\n \n (NASDAQ: MBIO),\n \n Verastem Oncology\n \n (NASDAQ: VSTM),\n \n Cardiff Oncology, Inc.\n \n (NASDAQ: CRDF),\n \n AstraZeneca PLC\n \n (NASDAQ: AZN).\n \n\n Grand View Research continued: “The increasing prevalence of life-threatening conditions and the necessity for the rapid development of pipeline drugs are also some factors that propel the br...