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Galena Biopharma (GALE) Launches New Product for Cancer Pain

By  +Follow October 3, 2013 5:04AM
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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.


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Results for GALE
PennyStock Zone
1 Sep 14 21:24:14
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Stockaholics
1 Sep 14 20:35:55
$IWEB closed up 100% today, on more than 290 MILLION shares traded! Huge News: http://t.co/ucQcnpafDY $ETEK $GALE $RSOL
Stockaholics
1 Sep 14 16:07:53
$IWEB closed up 100% today, on more than 290 MILLION shares traded! Huge News: http://t.co/ucQcnpafDY $ETEK $GALE $RSOL
PennyStock Zone
1 Sep 14 13:58:03
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Companies in News
1 Sep 14 08:22:03
$GALE: Galena Fires CEO Ahn, Offers No Parting Gifts http://t.co/BprlWblGTA http://t.co/p8jS6Bi2ki
Adam Cole
1 Sep 14 08:05:09
Hope everybody is having a nice Labor Day! Gotta go enjoy life, especially on days the market is closed 😃 $GERN $GALE $RTRX $ZGNX $DRL $GRPN
Orbis Tertius
1 Sep 14 06:54:42
@BanDaviK @IbizaInside @FranFuoRiOraRiO $GALE
Captain Future
1 Sep 14 06:31:54
$GALE $CYTR LAtimes "I am not sure there is an easy way to get around that as long as the perception is there." http://t.co/pBLEBR6hdQ
Matthew McBride
1 Sep 14 03:27:39
Will be watching $ONCS today, $INO and $GALE as well.
Chilasin
1 Sep 14 00:26:08
@Chilasin top pick for the week. Strong Buy Coverage: $GALE $GURE $GENE $VII, $JRJC, $HGSH
PennyStock Zone
31 Aug 14 19:10:46
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Business Headlines
31 Aug 14 14:21:53
$GALE: Earnings Reaction History: Galena Biopharma, Inc., 66.7% Follow-Through ... http://t.co/mbx7iiPMJP http://t.co/YHA2IzOTpI
Stock Market Monitor
31 Aug 14 13:21:46
$GALE: Galena 'stands little chance' of improving Zuplenz sales, TheStreet says http://t.co/fbE0X9hVLc http://t.co/uCvl4BarVp
PennyStock Zone
31 Aug 14 13:06:36
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fazo
31 Aug 14 09:50:52
@brucesusel maybe with AHN gone $GALE can make a move -- i think RANTE is definitely a paid pumper -- can't trust him for anything
PennyStock Zone
31 Aug 14 05:43:47
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Forex Insight
30 Aug 14 20:25:04
RT @CliffatMIG: $GALE: Stocks Alert – Hewlett-Packard Company (NYSE:HPQ), Galena Biopharma Inc ... http://t.co/cZ5fiPi33c http://t.co/xOKzO…
Stock News Headlines
30 Aug 14 20:21:50
$GALE: Stocks Alert – Hewlett-Packard Company (NYSE:HPQ), Galena Biopharma Inc ... http://t.co/cZ5fiPi33c http://t.co/xOKzOiOV9t
$Stocknewsalerts
30 Aug 14 09:05:07
$GALE Information for Galena Biopharma, Inc. From our Stock News Alerts App
Stocks in News
29 Aug 14 19:21:58
$GALE: Q2 2014 Galena Biopharma Inc Earnings Release - After Market Close http://t.co/Q4xMjtswQF http://t.co/7tMttjHySH
Business News Watch
29 Aug 14 18:21:56
$GALE: Galena Biopharma Reports Second Quarter 2014 Results http://t.co/qy8e00S9W6 http://t.co/XjAHRvmyo5
Stock Signaling
29 Aug 14 18:01:33
Movers and Shakers: $GRPN $FCEL $ECYT $SPLK $RFMD $TWTR $MNK $TKMR $PEIX $FEYE $LIVE $CIEN $AMBA $GALE $HERO http://t.co/Vtx6dLy0Nw #stocks
Stockaholics
29 Aug 14 12:23:32
RSII shot up over 100% today! Major Update: http://t.co/GMnQioznZp $ETEK $GALE $RSOL
PennyStock Zone
29 Aug 14 12:07:07
I am a VERY HAPPY subscriber to SUPERTRADES service check it out http://t.co/Ho9ydXHTWl $gale $twtr $aapl $lnkd $wfm $bac $cbis $mu #stocks
NextProgression
29 Aug 14 10:46:34
@DoctorTranRI360 Although $GALE didn't do themselves any favors either...still, pretty convincing timeline of events on that one.
NextProgression
29 Aug 14 10:45:26
@DoctorTranRI360 I have a suspicion he and his cronies trashed $GALE as well, among others.
Financial News
29 Aug 14 10:22:12
$GALE: Galena Gives Sales Team Another Useless Product to Promote http://t.co/48Dp8fwSTF http://t.co/YHqMEAxzj8
PennyStock Zone
29 Aug 14 10:15:10
I am a VERY HAPPY subscriber to SUPERTRADES service check it out http://t.co/Ho9ydXHTWl $gale $twtr $aapl $lnkd $wfm $bac $cbis $mu #stocks
Stockwiki
29 Aug 14 09:09:24
RT @TroxK: Watching $TBEV $DRIO $LLLI $OXGN $OREX $GALE $CPRX $IBIO $WTSL
TickerChirp
29 Aug 14 07:46:06
Most Popular Tweets Relevant to $GALE (GALENA BIOPHARMA INC symbol GALE) on 08/29/2014 http://t.co/3QPd2bRtPN
Clark W. Griswold
29 Aug 14 06:10:03
RT @TroxK: Watching $TBEV $DRIO $LLLI $OXGN $OREX $GALE $CPRX $IBIO $WTSL
Joshua Payne
29 Aug 14 06:09:15
RT @TroxK: Watching $TBEV $DRIO $LLLI $OXGN $OREX $GALE $CPRX $IBIO $WTSL
GoldenHounds
29 Aug 14 06:08:33
RT @TroxK: Watching $TBEV $DRIO $LLLI $OXGN $OREX $GALE $CPRX $IBIO $WTSL
K. Trox
29 Aug 14 06:05:53
Watching $TBEV $DRIO $LLLI $OXGN $OREX $GALE $CPRX $IBIO $WTSL
BuyersStrike
29 Aug 14 05:28:28
Another sell side shill flees $GALE sinking ship. JMP's Jason Butler finally gives up on the name. Guess they didn't get the banking biz.
InterCooler
29 Aug 14 04:50:45
Galena Biopharma’s Positive Rating Reiterated at MLV & Co $GALE http://t.co/ALTs6RRgDe
Bulls vs Bears
28 Aug 14 18:22:14
$GALE: Galena Biopharma Appoints Mark W. Schwartz, Ph.D., as President and Chief ... http://t.co/GC3AAuOQMl http://t.co/fGyDnTDDKF
Stock Signaling
28 Aug 14 18:01:12
Movers and Shakers: $RFMD $TWTR $MNK $TKMR $PEIX $FEYE $LIVE $CIEN $AMBA $GALE $HERO $ARO $YGE $BAS $EXAS http://t.co/Vtx6dLy0Nw #daytrading
OTPicks.com
28 Aug 14 16:48:11
http://t.co/hjgLwIcNgz DennyT: GALE Insider Disclosure $GALE $SH $GPRO $ECA.TO: DennyT http://t.co/yO9mr32ScT http://t.co/hjgLwIcNgz
OTPicks.com
28 Aug 14 16:48:10
http://t.co/QkCFZ8H3V8 DennyT: GALE Insider Disclosure $GALE $SH $GPRO $ECA.TO: DennyT http://t.co/gcVNvpaSPx http://t.co/QkCFZ8H3V8
Stockaholics
28 Aug 14 13:16:23
$VIIC ran up 720% Today in an explosive move! Our new picks are coming soon: http://t.co/86hsEuqG18 $ETEK $GALE $RSOL
Frederick2
28 Aug 14 12:15:15
RT @jatdo1: @fazoinnorcal I have no position now like $gale but will get back in when timing is favorable. Dennis Quade Signing out bro. Ha…
jtrudeau
28 Aug 14 12:14:20
@fazoinnorcal I have no position now like $gale but will get back in when timing is favorable. Dennis Quade Signing out bro. Have a good one
Stocks in News
28 Aug 14 11:21:55
$GALE: Galena CEO Fired Following Stock-Promotions Scandal http://t.co/oevqmBjd8X http://t.co/AGfNCUMpuP
Wall Street Monitor
28 Aug 14 10:22:01
$GALE: Galena CEO Fired Following Stock-Promotions Scandal http://t.co/WoNZw4ZiJB http://t.co/3vKcOLDEoA
danrocks
28 Aug 14 09:54:53
$AKS alot of talk going around about this one $GALE $XLY $XLB $RFMD $USO http://t.co/CSdHdknSJX
lookn4wins
28 Aug 14 09:07:07
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Extreme Stocks
28 Aug 14 08:54:44
DennyT: GALE Insider Disclosure $GALE $SH $GPRO $ECA.TO http://t.co/ucDt6ShoII
iHangout
28 Aug 14 08:49:58
http://t.co/Vv1sYDyeQn DennyT: Cheeky's Board!: GALE Insider Disclosure $GALE $SH $GPRO $ECA.TO http://t.co/e4867uixaY
Investors Hangout
28 Aug 14 08:48:35
DennyT: GALE Insider Disclosure $GALE $SH $GPRO $ECA.TO http://t.co/JX92m6610S
				
				
By  +Follow October 3, 2013 5:04AM
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