That leaves Oncothyreon with the experimental cancer drug PX-866, a PI-3K inhibitor. PI-3K is a sexy molecular target right now but more so in hematological cancer than solid tumors. To date, all the clinical work with PX-866 is in solid tumors. Results from randomized phase II studies in non-small cell lung cancer and metastatic colon cancer are expected in the first and second quarters of 2013.

We'll see what those data tell us about PX-866 soon enough.

Not all PI-3K inhibitors are the same. Right now, the buzz enveloping Gilead Sciences' ( GILD) idelasib, Infinity Pharmaceuticals' ( INFI) IPI-145 and Pharmacyclics' ( PCYC) ibrutinib (a closely related BTK inhibitor) has not spread to PX-866.

Paul T. writes, "I'm interested in knowing more about websites and other sources of information for deeper knowledge in biotech stocks and investing. What are your favorites ways to do research? Thanks."

Great question. Here's a list of my favorite biotech-related websites and resources. Some of these I use almost daily, others less frequently. Take a look and figure out what works best for you.

The basics, all free services:

The SEC's website for access to regulatory filings. Indispensable. You have to read a company's 10-Qs, 10-Ks and 8-Ks, always.

I use Yahoo! Finance for basic stock price and related information, plus access to press releases. My web browser's home page is a customized MyYahoo! page with real-time stock quotes and biotech and drug industry news. Stock traders likely have more sophisticated setups but MyYahoo! has always worked well for me. for keeping tabs on ongoing clinical trials.

Get to know your way around the FDA's website. For specific drug information, including approved drug labels, use the search engine at Drugs@FDA. The FDA also maintains a page for advisory panel information, which is helpful.

PubMed for looking up publishing clinical studies and research papers. I've also had good luck with Google Scholar.

StockTwits: Like it or not, Twitter is an entrenched part of Wall Street these days, certainly for active investors and traders. I'm particularly fond of StockTwits' "Signals" tools like sector heatmaps. I check the health-care heatmap every day to see which biotech stocks are capturing the most social media buzz. On a related note, check out Appeering for curated Twitter conversation threads. They do a great job of capturing much of the biotech talk that passes through Twitter.

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