logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Galena Biopharma (GALE) Launches New Product for Cancer Pain

By  +Follow October 3, 2013 5:04AM
Share:
Tickers Mentioned:

In its first foray into the commercial drug world, small cap Galena Biopharma (GALE) said Thursday morning that it has officially launched Abstral® Sublingual Tablets in the United States.  Delivering the medication in an “under the tongue” application, Abstral is indicated for pain in adults 18 and over who are already receiving, and tolerant of, opioid drugs for persistent cancer pain.  It is the only fentanyl sublingual tablet for the management of this type of pain on the market today.

Galena, a Lake Oswego, Oregon-based cancer drug developer, acquired Abstral from Swedish specialty drugmaker Orexo AB in March for sale and distribution in the U.S.  Per the deal, Galena paid Orexo $10 million upfront and is to pay another $5 million within one year, in addition to low double-digit royalties and one-time milestone payments based on pre-specified net sales.

The U.S. market for transmucosal immediate-release fentanyl, or TIRF, is estimated at $400 million.  Investors are cautiously optimistic for Galena to penetrate the TIRF markets given the fact that about one-third of all cancer patients suffer from controlled breakthrough pain.  In late-stage cancer patients, the percentage rises to approximately 80 percent.

The treatment was approved by the Food and Drug Administration in January 2011.  Sales in Europe by ProStrakan/Kyowa Kirin in 2012 totaled $54 million.  Abstral is also sold in Canada by Paladin Labs ($PLB:CA).  In Japan, Kyowa Hakko Kirin has filed for approval of the drug. 

"We believe Abstral delivers best in class performance because it is simple to carry, simple to use, and requires no special handling or disposal,” said Mark J. Ahn, president and chief executive at Galena in a statement today.  “We have a commercial team of highly dedicated, patient-focused professionals with experience in both pain and oncology who have helped us reach this tremendous milestone for Galena."

In September, Galena raised approximately $32.6 million (net proceeds), a portion of which is earmarked for marketing of Abstral as well as its ongoing phase 3 clinical trial of NeuVax™, a drug in development for HER2-positive breast cancer patients.

Last week, Ahn signaled that the company was ready to roll-out Abstral this week.  With that, shares have been on the move upward, rising from around $1.90 last week to a close at $2.29 on Tuesday, a 20 percent climb in six days.  Shares have continued to rise in early Thursday trading, printing as high as $2.58 before pulling back to $2.44 for gains of another 6.5 percent at 11 AM ET as some traders appear to be “selling the news.”

Through Tuesday’s close, shares of GALE were up about 50 percent in 2013.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Signup for our daily newsletter and get our best articles emailed right to you!

Results for GALE
jtrudeau
6 Mar 15 02:25:10
RT @jasminbarbeau: $GALE conference on Q4 earnings an hour ago, after mkt +0.09 so far
Stockaholics
6 Mar 15 01:35:55
Major New Penny Stock Picks Coming! Subscribe here to get them: http://t.co/onPt58XvZI $ETEK $GALE $RSOL
Stock Rocket
5 Mar 15 23:53:50
$VOIS Has Gained 400% In The Past Month! Huge Update + A New Pick Coming: http://t.co/fhyaqgoxEs $ETEK $GALE $RSOL
foolsgold
5 Mar 15 23:48:50
Watching 3/6 $ARQL $ASTI $AXN $CNDO $CORT $CRIS $GALE $MOSY $MTL $MY $PSTI $QTM $ZA
Katsu
5 Mar 15 23:37:25
$GALE off bottom
chartguy89
5 Mar 15 22:55:34
GALE 2.00 Galena Biopharma Stock Charts $GALE Last Updated: 03/05/15 Last price: 2.00 Total volume: 4,383,870 http://t.co/F4BjWAfRCl
Bruce
5 Mar 15 22:33:35
RT @StockSignaling: Movers and Shakers: Making Range Advances: $CSIQ $TSL $VSLR $PEIX $GLNG $CHK $WTI $CTIC $MR $X $SUNE $S $GALE $GERN $WB…
Hustle2015
5 Mar 15 22:28:23
RT @cleverpeanut: Long $GALE earnings winner, beat estimates nicely. Fantastic 4:1 risk/reward. $FB $TWTR $SGOC $GERN $RVLT $BGMD $MVIS $GR…
ProVesting
5 Mar 15 22:26:02
$GALE: Galena Biopharma Trading Up 4.1% Following Earnings Beat (GALE): http://t.co/kmZLb5JZoo
InterCooler
5 Mar 15 22:15:40
Galena Biopharma Trading Up 4.1% Following Earnings Beat $GALE http://t.co/g04mq4p9Ug
MAISA
5 Mar 15 21:47:40
$GALE_$2.00_reported its financial results for the quarter and year ended December 31, 2014 and provided a business update
AcropolisInc
5 Mar 15 21:35:25
RT @hustle2015: its monday eve. Anybody else exited for market open 2morrow?! $MINE back to copper land. $EXXI gonna keep movin up! $GALE w…
Stock Signaling
5 Mar 15 21:01:03
Movers and Shakers: Making Range Advances: $CSIQ $TSL $VSLR $PEIX $GLNG $CHK $WTI $CTIC $MR $X $SUNE $S $GALE $GERN $WBAI #investing #nyse
StockNews
5 Mar 15 20:15:10
$GALE - Galena Biopharma's (GALE) CEO Mark Schwartz on Q4 2014 Results - Earnings Call Transcript http://t.co/nklDZSOKIS
Stocks News&Markets
5 Mar 15 20:15:10
$GALE - Galena Biopharma's (GALE) CEO Mark Schwartz on Q4 2014 Results - Earnings Call Transcript http://t.co/5JBwrWcrqW
biotechnology smith
5 Mar 15 20:15:09
$GALE - Galena Biopharma's (GALE) CEO Mark Schwartz on Q4 2014 Results - Earnings Call Transcript http://t.co/VuIULkvNuO
mystock smith
5 Mar 15 20:15:08
$GALE - Galena Biopharma's (GALE) CEO Mark Schwartz on Q4 2014 Results - Earnings Call Transcript http://t.co/pyZQWL6Czh
Rachel Smith
5 Mar 15 20:15:08
$GALE - Galena Biopharma's (GALE) CEO Mark Schwartz on Q4 2014 Results - Earnings Call Transcript http://t.co/XQn3Vy64US
NASDAQ
5 Mar 15 20:15:06
$GALE - Galena Biopharma's (GALE) CEO Mark Schwartz on Q4 2014 Results - Earnings Call Transcript http://t.co/tR1s6UkjCY
Stock Rocket
5 Mar 15 18:44:31
$VOIS Has Gained 400% In The Past Month! Huge Update + A New Pick Coming: http://t.co/fhyaqgoxEs $ETEK $GALE $RSOL
alexander
5 Mar 15 18:40:54
$GALE not completely out of woods, but worse is over! Expect high volume, moderate PPS increase and near future possibility of short squeeze
alexander
5 Mar 15 18:30:33
Seems worse is over for $GALE PPS will raise with time. Near term Short squeeze is possibility.
Hustle2015
5 Mar 15 18:06:04
RT @jasminbarbeau: $GALE the reward of the believers 👍
Hustle2015
5 Mar 15 18:05:58
RT @jasminbarbeau: $GALE conference on Q4 earnings an hour ago, after mkt +0.09 so far
Hustle2015
5 Mar 15 18:05:46
RT @msumak: $gale beat the street and is working on #cancer treatments for #breastcancer #breastcancerawareness $PCYC
Hustle2015
5 Mar 15 18:04:52
RT @Bizquick: $gale loading the boat!!! Let's go!!!
Martin
5 Mar 15 16:34:22
$GALE Those who doubt me, look at my Twitter account @srqomy70
Breaking News Now
5 Mar 15 16:31:02
$GALE: Galena Biopharma Trading 4.1% Higher on Earnings Beat (GALE): http://t.co/O8JdnDzJYe
Martin
5 Mar 15 16:15:15
$GALE For the record. All I have said is to do your DD. There is nothing new here for now than a ER with EPS $-0.06. ANDA, SEC and Lawsuits
matt kolb
5 Mar 15 15:58:02
$gale beat the street and is working on #cancer treatments for #breastcancer #breastcancerawareness $PCYC
StockEarnings.com
5 Mar 15 15:30:45
$GALE Earnings result is already out. Check out historical price reaction after ER. http://t.co/lmfjF29YZV
Jasmin Barbeau
5 Mar 15 15:18:16
$GALE the reward of the believers 👍
Jasmin Barbeau
5 Mar 15 15:13:17
$GALE conference on Q4 earnings an hour ago, after mkt +0.09 so far
Briefing.com
5 Mar 15 15:12:23
$GALE: Galena Biopharma beats by $0.05, beats on revs http://t.co/Rex5kKKd0e
Martin
5 Mar 15 15:03:55
$GALE There is a reason why this tanked from $8. DD
Martin
5 Mar 15 15:02:45
$GALE Let me make this clear, I'm not shorting this. But it pisses me off when the pumpers screw ppl's hard earned money with lies.
MIke Pollack
5 Mar 15 14:59:45
RT @MaisaCorp: $GALE After Hours: $2.12 +$0.12 (+6.00%) - look like we will have another runup here guys!
Nick Budnick
5 Mar 15 14:49:27
Federal SEC investigation of Lake Oswego firm Galena Biopharma, continues: annual report $GALE http://t.co/AgXDI89N4q
Martin
5 Mar 15 14:39:25
$GALE Once the pumpers are done they will leave the bag holders wondering WTF!
Martin
5 Mar 15 14:37:49
$GALE Do your DD before buying this stock. It's a NO NO
Breaking News
5 Mar 15 14:37:05
$GALE: Galena Biopharma Shares Up 4.1% After Earnings Beat (GALE): http://t.co/hPER3o1JEC
ProVesting
5 Mar 15 14:36:03
$GALE: Galena Biopharma Shares Up 4.1% After Earnings Beat (GALE): http://t.co/QGdfNaxEfb
Hustle2015
5 Mar 15 14:29:43
@hustle2015 where my Bio Dawg @mmrosati_92 at? Cmon baby show us sum love. $GALE
Martin
5 Mar 15 14:27:38
$GALE Get out while you can
Martin
5 Mar 15 14:26:22
$GALE Fading
Martin
5 Mar 15 14:25:43
$GALE When does the party begins?
Market Raven
5 Mar 15 14:22:18
RT @stockguy22: not much #afterhours tonight : UP $GALE $GERN $CALA $RIG $BAC Down $SKUL $MS $C http://t.co/5TMJwQyzLk
Stockguy22
5 Mar 15 14:21:28
not much #afterhours tonight : UP $GALE $GERN $CALA $RIG $BAC Down $SKUL $MS $C http://t.co/5TMJwQyzLk
Breaking News
5 Mar 15 14:21:01
$GALE: Galena Biopharma Reports Fourth Quarter and Year End 2014 ...: http://t.co/Zt9EpeWoU6
Martin
5 Mar 15 14:18:37
$GALE Don't be fooled and chase this, you will get burn.
				
				
By  +Follow October 3, 2013 5:04AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.