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.


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for GALE
Ashlyn Schumacher
29 Aug 14 19:58:06
$GALE GALENA BIOPHARMA, INC. Files SEC form 8-K, Change http://t.co/TbdpDiRW60
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
$AEM Current Price $AEM Most recent stock chart and technical analysis. $XLV $QIHU $QCOM $GALE $SSO $FITX http http://t.co/QLzRxJ7Na9
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
Investors Hangout
28 Aug 14 08:48:14
DennyT: GALE Insider Disclosure $GALE $SH $GPRO $ECA.TO http://t.co/fYVKc1GMIx
leahanne
28 Aug 14 08:35:55
$KORS Michael Kors Holdings Limited (KORS) 81.34 -1.00 (-1.21%) $GALE $SH $V http://t.co/nkTJi0YMtD
Financial News
28 Aug 14 08:22:09
$GALE: Q2 2014 Galena Biopharma Inc Earnings Release - After Market Close http://t.co/bJZ0FWeolE http://t.co/mSxIarue9M
WKRB News
28 Aug 14 08:08:15
Galena Biopharma Given Positive Rating at MLV & Co $GALE http://t.co/ZAHnUrLKFp
iHangout
28 Aug 14 07:45:57
http://t.co/Vv1sYDyeQn DennyT: ALERTS, HOT STOCKS & CHARTS: DDD Filings and Disclosure $DDD $UGAZ $DUST $GALE http://t.co/uf76dlnVCp
Investors Hangout
28 Aug 14 07:43:53
DennyT: DDD Filings and Disclosure $DDD $UGAZ $DUST $GALE http://t.co/awEh9uLtej
Investors Hangout
28 Aug 14 07:43:21
DennyT: DDD Filings and Disclosure $DDD $UGAZ $DUST $GALE http://t.co/xQVCUSyhP3
Wall Street News
28 Aug 14 07:22:01
$GALE: GALENA BIOPHARMA, INC. Financials http://t.co/odsktSD9B4 http://t.co/Lovje4Hcz8
fazo
28 Aug 14 07:11:30
$RXII spin off of $GALE is beasting -- dont know what the fuck they do but ??? is going off
Wai
28 Aug 14 06:41:06
RT @LMLLL7: Who's Ready For THE $MINE Bounce? $MYEC $GLGT $RIBT $PTAH $DGLY $GALE
Investors Hangout
28 Aug 14 06:37:11
danrocks: $AEM Getting Interesting $GALE $HAL $IPCI $PTAH http://t.co/Yvflv8pLH1
Investors Hangout
28 Aug 14 06:37:11
danrocks: $AEM Getting Interesting $GALE $HAL $IPCI $PTAH http://t.co/GtxScEPtxN
ML7
28 Aug 14 06:34:11
Who's Ready For THE $MINE Bounce? $MYEC $GLGT $RIBT $PTAH $DGLY $GALE
Investors Hangout
28 Aug 14 06:33:52
clayton: $GALE 2.48 http://t.co/d9ftDuJBbo
Investors Hangout
28 Aug 14 06:33:43
clayton: $GALE 2.48 http://t.co/GsUsNdBHWz
clayton
28 Aug 14 06:31:12
$GALE 2.48 http://t.co/BbWxIt7Mqu
danrocks
28 Aug 14 06:23:58
$AEM Getting Interesting $GALE $HAL $IPCI $PTAH $AXP http://t.co/qg1bpyFltY
BuyersStrike
28 Aug 14 06:00:07
$GALE must have already appointed bankers for the next deal if MLV is cutting target....
				
				
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.