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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.

Results for GALE
Adair Corbinea
17 Apr 14 13:09:36
$GALE Lieff Cabraser Reminds G http://t.co/longFfReWv
3LL
17 Apr 14 12:26:55
hadn't looked at $GALE in a long time, wow, I'm glad I never turned that chart on again #pumpanddump that said, let me get in next time fkrs
_tr8dr_
17 Apr 14 12:09:06
$GALE seems to hold it well at 1.8
Hosam
17 Apr 14 09:56:54
RT @BioBounce: but we all know the real poster child for BioMania - $GALE - this is actually a sad story for those who lost big http://t.co…
Alexander Morris
17 Apr 14 08:03:09
$GALE: 1mCrossSMA+ 1.85[13+10%Days], NearCl:BrkPHi+PLo[-2.8%], tf:3f, FirmTrnd-:+25%; TLM:0.8 (PotLONG); vl:8; rs:+5,
Roy Harris
17 Apr 14 05:54:45
Possible short term long positions for chart reversal,few close watches $PVCT $WPCS $GALE $FREE $MWIP $EONC $SGLB $VIMC $VEND $ZAAP
Gotham City Capital
17 Apr 14 01:26:45
RT @Drchik23: Meant to add the link.Here it is for short interest: http://t.co/vXYOUqmHUm $arna $mnkd $myg $arwr $gern $srpt $enta $zgnx $p…
Ticker Report
17 Apr 14 00:42:04
Galena Biopharma Sees Significant Growth in Short Interest $GALE http://t.co/rEQAuvZJ9U
Stock Herald
16 Apr 14 17:23:05
$GALE: Hagens Berman: Galena Biopharma Investigation Proceeds in Light of May... http://t.co/jfnXJlSZ9O
stocknews247
16 Apr 14 17:17:32
$GALE - Hagens Berman: Galena Biopharma Investigation Proceeds in Light of May... -> http://t.co/2JYbFnu9SH #stock #stocks #stockaction
Cortez Kinlan
16 Apr 14 17:05:29
$GALE Lieff Cabraser Reminds G http://t.co/tSA8JguCjk
StockNews
16 Apr 14 16:58:12
$GALE - Hagens Berman: Galena Biopharma Investigation Proceeds in Light of May 5, 2014 Lead Plaintiff Deadline http://t.co/Hi5DrAvw2n
VisualStock Resource
16 Apr 14 16:58:10
$GALE - Hagens Berman: Galena Biopharma Investigation Proceeds in Light of May 5, 2014 Lead Plaintiff Deadline http://t.co/rxHuA1kfkm
Romulus Jackson
16 Apr 14 16:30:42
$GALE Lieff Cabraser Remin http://t.co/hwfm1bcJgn
_tr8dr_
16 Apr 14 11:53:25
$GALE getting interesting now
StockTalk
16 Apr 14 11:53:21
$GALE inching
WallStreet
16 Apr 14 11:18:47
$GALE Galena Biopharma Inc (NASDAQ:GALE) Tumbling, The Problem Of Management Oversight? http://t.co/Hw5wDcwt7U
PsychSignal
16 Apr 14 11:02:13
200.0% increased bullish conversations in $GALE in the past 3 hours.
LifeSciencesMkt
16 Apr 14 10:29:54
Even "Unfrozen Caveman Lawyer" couldn't help $GALE at this point
Shane Blackmon
16 Apr 14 09:33:11
The shit biotechs starting to run lol $GALE $GERN $INO
Alexander Morris
16 Apr 14 08:03:55
$GALE: 3mCrossSMA- 1.73[16-10%Days], tf:03; TLM:1.0 (PotSHRT); vl:8; rs:+4,
Alexander Morris
16 Apr 14 06:49:46
$GALE: 1mCrossSMA- 1.74[16-10%Days], 0cNearLo, tf:1f; TLM:0.6 (PotSHRT); vl:8; rs:+4,
Colin Macleod
16 Apr 14 03:25:47
$GALE Lookin like a steal at this price
MadMoney2014
16 Apr 14 02:37:26
RT @fazoinnorcal: @DDRANTE nice bro- just thinking about re-entry into $GALE today if it gets to $1.50 check $PMRS for ur weed basket http:…
US Banking News
15 Apr 14 23:49:55
Short Interest in Galena Biopharma Expands By 8.1% $GALE http://t.co/FOcpCFfcLk
WKRB News
15 Apr 14 23:38:22
Short Interest in Galena Biopharma Expands By 8.1% $GALE http://t.co/rF0HCnlDKm
fazo
15 Apr 14 23:36:27
@DDRANTE nice bro- just thinking about re-entry into $GALE today if it gets to $1.50 check $PMRS for ur weed basket http://t.co/RAKwmEzXd9
Scott Thomas
15 Apr 14 23:14:28
RT @Drchik23: Meant to add the link.Here it is for short interest: http://t.co/vXYOUqmHUm $arna $mnkd $myg $arwr $gern $srpt $enta $zgnx $p…
Andrew Colburn
15 Apr 14 21:30:51
RT @Drchik23: Meant to add the link.Here it is for short interest: http://t.co/vXYOUqmHUm $arna $mnkd $myg $arwr $gern $srpt $enta $zgnx $p…
Joe
15 Apr 14 21:05:25
Meant to add the link.Here it is for short interest: http://t.co/vXYOUqmHUm $arna $mnkd $myg $arwr $gern $srpt $enta $zgnx $pdli $gale $xoma
Bob
15 Apr 14 17:07:26
RT @BioBounce: but we all know the real poster child for BioMania - $GALE - this is actually a sad story for those who lost big http://t.co…
Travis King
15 Apr 14 17:06:34
RT @BioBounce: but we all know the real poster child for BioMania - $GALE - this is actually a sad story for those who lost big http://t.co…
BioBounce
15 Apr 14 17:05:10
but we all know the real poster child for BioMania - $GALE - this is actually a sad story for those who lost big http://t.co/JYn8GDRQcE
Brewman Brothers
15 Apr 14 13:07:58
$GALE still has a $200m+ mkt cap after being pummeled to 22% of their peak SP 3 months ago. Hilarious. Mgmt in the business of selling stock
Turd Trader
15 Apr 14 13:06:25
bto $TWTR put Apr 25 10@1.95 their news was smoke screen to hide loses. new $goog hire can't turn $TWTR overnight. btw: adolph is long $GALE
Alexander Morris
15 Apr 14 12:31:42
$GALE: 1mCrossSMA+ 1.74[-7%][14+10%Days], PrvCLo, tf:0f; TLM:2.0, 6MoLo- (PotLONG); vl:8; rs:+6,
nypd whistleblower
15 Apr 14 11:01:25
RT @StockRocket1: $IDOI on fire today! $LQMT $NVLX $BHRT $EXEL $AKS $KGC $MCIG $NBG $HK $ANV $XTRM $SD $GALE $HYSR $BSBR $DIRV $GGB $IAG $…
Stock Rocket
15 Apr 14 11:00:38
$IDOI on fire today! $LQMT $NVLX $BHRT $EXEL $AKS $KGC $MCIG $NBG $HK $ANV $XTRM $SD $GALE $HYSR $BSBR $DIRV $GGB $IAG $ODP $TAUG $ISR
Myle Le
15 Apr 14 10:15:23
Do GALE ever come back? SA Market Current on GALE - Midday Gainers / Losers http://t.co/9YVwEtghBf $GALE
PsychSignal
15 Apr 14 09:02:16
233.0% increased bullish conversations in $GALE in the past 3 hours.
Healey
15 Apr 14 08:02:37
$ibb no new run low today,but new run lows today on:$navb, $pgnx, $aezs, $acst, $biod, $dara, $pphm, $ssh, $gale, $athx, $pran, $clsn, $bcrx
Stock Rocket
15 Apr 14 07:57:57
$IDOI on breakout alert! $ARIA $GRPN $BCCI $EAPH $ITNS $KGC $ANR $FCEL $MCIG $MYEC $ANV $AKS $INO $ALU $IAG $NGMC $TRTC $NHYT $GALE $NBG
Shishy
15 Apr 14 07:53:58
$gale desperately needs positive neuvax data. It's getting dangerously in the delisting zone.
Captain Future
15 Apr 14 07:46:22
$GALE near 52W weeks low - deserves a new alltime low imo
Alexander Morris
15 Apr 14 07:40:06
$GALE: Waterfall-:1 [-11%,11.9%offHi], PrvCLo, 3mMv:-3, 20:7Accel-Dy, tf:00; 2x:2xTrdVol; TLM:1.4, 6MoLo-, AvgDyV/R=6.39M/0.23[x1.0],
John Leak
15 Apr 14 06:22:33
Sometimes it's not about the money, it's about watching trolls get smoked $GALE
Samuel Farrow
15 Apr 14 02:43:00
$GALE Lieff Cabraser Reminds G http://t.co/yZO65BHDiJ
BuyersStrike
14 Apr 14 22:12:27
$GALE fans...read page 32 of this S-3 carefully...is Mark Ahn finally fessing up? http://t.co/1akDPMppEg
Eli Pritsker
14 Apr 14 18:57:56
RT @BiotechMoney18: $GALE files to sell 6M common stock for holders http://t.co/QvvSCCgM2d LOL. At this time? Turd just getting worse.
				
				
By  +Follow October 3, 2013 5:04AM
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