Company Overview of Galena Biopharma, Inc.
Galena Biopharma, Inc., a biopharmaceutical company, focuses on developing and commercializing oncology therapeutics that address major unmet medical needs across cancer care. Its commercial products include Abstral, a sublingual tablet that is used for the management of breakthrough pain in patients with cancer; and Zuplenz, an oral soluble film for use in the prevention of chemotherapy-induced, radiotherapy-induced, and post-operative nausea and vomiting. The company’s lead product candidate, NeuVax (nelipepimut-S), is in Phase III clinical trials for the prevention of recurrence in early- stage and node-positive breast cancer with low to intermediate human epidermal growth factor receptor...
4640 SW Macadam Avenue
Portland, OR 97239
Founded in 2003
Key Executives for Galena Biopharma, Inc.
Chief Executive Officer, President, Director and Member of Ad Hoc (Strategy, Pricing, Etc) Committee
Total Annual Compensation: $707.1K
Chief Financial Officer and Vice President
Total Annual Compensation: $299.4K
Compensation as of Fiscal Year 2014.
Galena Biopharma, Inc. Key Developments
Independent Data Monitoring Committee Recommends Galena Biopharma for Reduction of Cardiac Toxicity Monitoring for NeuVax Present Trial
Aug 24 15
Galena Biopharma (GALE) announced that the Independent Data Monitoring Committee (IDMC) has recommended to the Company that it can reduce the cardiac toxicity monitoring for patients in its NeuVax Phase 3 PRESENT (Prevention of Recurrence in Early-Stage, Node-Positive Breast Cancer with Low to Intermediate HER2 Expression with NeuVax Treatment) clinical trial. The trial is being run under a Special Protocol Assessment (SPA) approved by the U.S. Food and Drug Administration (FDA).
Galena Biopharma, Inc. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Revenue Guidance for the Year 2015
Aug 6 15
Galena Biopharma, Inc. reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's net revenue was $3.4 million, a 48% increase compared to $2.3 million reported for the same period in 2014. Operating loss was $11.3 million compared to $15.8 million for the same period last year. Net loss was $15.7 million or $0.10 per basic and diluted share compared to $19.9 million or $0.17 per basic and diluted share a year ago. The lower net loss this quarter compared to the same quarter last year is a function of the lower operating loss, partially offset by the increase in the non-cash loss on the change in its warrant values. The current quarter loss per share was negatively impacted by a $4.3 million noncash expense from the increase in warrant liability compared to a $3.3 million noncash expense for the same quarter last year.
For the six months, the company's net revenue was $6.1 million, a 36% increase compared to $4.5 million reported for the same period in 2014. Operating loss was $22.4 million compared to $27.6 million for the same period in 2014. The decrease in net operating loss year-over-year is primarily the result of the completion of enrollment in its Phase 3 PRESENT trial for NeuVax, as well as the decrease in stock based compensation and professional fees associated with ongoing legal proceedings. Net loss was $26.2 million or $0.18 per basic and diluted share compared to net loss of $22.5 million or $0.19 per basic and diluted share a year ago. The higher net loss through the first two quarters of 2015 compared to the same period last year is a function of the lower operating loss, which was more than offset by the non-cash loss on the change in its warrant values 2015, compared to a non-cash gain last year.
The company projected full year 2015 net revenue guidance of approximately $15 million.
Galena Biopharma Launches Generic Anti-Nausea Product in U.S
Jul 29 15
Galena Biopharma announced its Zuplenz Oral Soluble Film has been launched in the U.S. Zuplenz is clinically bioequivalent to ondansetron orally disintegrating tablets, which are used for patients suffering from nausea and vomiting due to chemotherapy, radiation treatments, and surgical procedures. Ondansetron belongs to a class of medications called serotonin 5-HT3 receptor antagonists. The branded version of drugs containing the substance were estimated to have recorded sales of more than $1 billion in the U.S. in 2014.
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