Galena Biopharma Inc (NASAQ: GALE)
Galena Biopharma is having a great day in the market today after announcing two abstract publications at the American Society of Clinical Oncology (ASCO) 2015 Annual Meeting. So today, we’ll talk about the abstract publications, how the market reacted, and what we can expect to see from GALE moving forward. So, let’s get right to it…
Abstract Publications From GALE
While announcing the release of the abstract publications, here’s what GALE President and CEO, Mark W. Schwarts, Ph.D. had to say…
The two abstracts published by ASCO provide meaningful advancements for both of our cancer immunotherapy programs, NeuVax and Gale-301…The use of Leica’s Bond Oracle HER2 IHC system ensures we have enrolled the specified HER2 1+/2+ patients for our Phase 3 NeuVax™ Present trial and moves us further down the path of providing targeted, personalized medicine for these women. Meanhwhile, the published preliminary data from our GALE-301 program is quite promising as it shows significant reduction of recurrences with our vaccine. We expect to present more mature data at a scientific conference this Fall, and we are currently evaluating the next steps to potentially advance GALE-301 into a randomized late-stage trial to prevent recurrence in ovarian and endometrial cancers.”
What We’re Seeing From Galena Biopharma As A Result Of The News?
As mentioned above, GALE is having a great day in the market today. Currently (12:45), Galena Biopharma shares are trading at $1.64 after a gain of 15.49% so far today.
What We Can Expect To See Moving Forward
When it comes to GALE, I’m a bull in both the short term and long term outlooks. Here’s how I see it…
Short Term – The stock is climbing on good news and will most likely continue an overall upward trend. Of course, we will have corrections from highs here and there where Galena Biopharma stock pulls back a bit, however, tracking over the course of the next 2 or 3 days in the market, we should see pretty strong uptrends overall.
Long Term – I also think that Galena Biopharma is a great long term gainer. The company focuses in an area that is in very high demand, and with the abstract presentations today, we found out that they are getting closer and closer to where they need to be. NeuVax is moving further up through the system and getting closer and closer to approved indications; while GALE-301 is proving to be a promising candidate. When coupling the strong pipeline with a management team that has clear goals and a plan to see them come to fruition, I see massive upward potential for GALE in the long run.
What Do You Think?
Where do you think GALE is headed and why? Let us know in the comments below!