Galena Biopharma (NASDAQ:GALE): Closing price $2.08
Share coverage was begun Monday at Needham & Company with a Buy, along with a price target of $3.50. Analyst Chad Messer commented that “Galena is developing NeuVax, a targeted vaccine for breast cancer. NeuVax has already demonstrated increased survival over placebo when given as an adjuvant to standard-of-care. Galena is now enrolling the 700-patient pivotal PRESENT study which will report interim data in fourth quarter 2013 or first quarter 2014. We believe adjuvant vaccine therapy will ultimately become standard of care for many cancer types, and we view NeuVax as one of the leading new product candidates for this revolutionary treatment modality. Galena also recently acquired an approved product for breakthrough cancer pain, giving the company near-term revenue potential and a commercial presence in oncology.”
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